Heritage Insurance Holdings, Inc. (NYSE:HRTG) Given Consensus Rating of “Buy” by Brokerages

Heritage Insurance Holdings, Inc. (NYSE:HRTG) has been assigned an average recommendation of “Buy” from the five research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $36.50.

A number of brokerages recently weighed in on HRTG. Truist Financial boosted their target price on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Piper Sandler lifted their price objective on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings raised shares of Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday.

Heritage Insurance Stock Down 1.1%

NYSE:HRTG opened at $34.08 on Thursday. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.85 and a beta of 0.92. Heritage Insurance has a twelve month low of $20.48 and a twelve month high of $36.50. The stock’s 50 day moving average price is $30.89 and its two-hundred day moving average price is $27.39. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.25 by $0.80. The company had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. Equities research analysts expect that Heritage Insurance will post 5.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Heritage Insurance

In other news, CEO Ernie Garateix sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $34.88, for a total value of $348,800.00. Following the completion of the sale, the chief executive officer directly owned 1,040,955 shares of the company’s stock, valued at $36,308,510.40. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Timothy Moura sold 15,104 shares of Heritage Insurance stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $32.49, for a total value of $490,728.96. Following the transaction, the insider owned 144,941 shares of the company’s stock, valued at $4,709,133.09. This represents a 9.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,904 shares of company stock valued at $2,615,205 in the last three months. Corporate insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Heritage Insurance

Large investors have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC boosted its position in Heritage Insurance by 1.9% during the first quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 489 shares during the period. Royal Bank of Canada raised its position in shares of Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 546 shares during the period. Graham Capital Management L.P. raised its position in shares of Heritage Insurance by 4.2% in the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock valued at $567,000 after purchasing an additional 789 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Heritage Insurance during the 3rd quarter worth about $25,000. Institutional investors own 59.03% of the company’s stock.

About Heritage Insurance

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.