Truist Financial Issues Positive Forecast for Heritage Insurance (NYSE:HRTG) Stock Price

Heritage Insurance (NYSE:HRTG) had its target price boosted by Truist Financial from $35.00 to $37.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

HRTG has been the topic of several other reports. Wall Street Zen downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Zacks Research cut Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings upgraded Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $32.50.

Heritage Insurance Stock Up 6.2%

HRTG stock traded up $1.72 during trading on Friday, hitting $29.57. 828,357 shares of the stock traded hands, compared to its average volume of 432,361. The stock has a market cap of $917.39 million, a price-to-earnings ratio of 6.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. Heritage Insurance has a 1 year low of $9.89 and a 1 year high of $29.96. The firm’s 50 day moving average is $24.62 and its two-hundred day moving average is $23.13.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $1.10. Heritage Insurance had a net margin of 17.72% and a return on equity of 44.62%. The firm had revenue of $212.46 million for the quarter, compared to the consensus estimate of $210.12 million. On average, sell-side analysts anticipate that Heritage Insurance will post 1.86 EPS for the current year.

Insider Buying and Selling

In other Heritage Insurance news, Chairman Richard A. Widdicombe sold 100,000 shares of the company’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $27.26, for a total value of $2,726,000.00. Following the completion of the sale, the chairman owned 499,047 shares in the company, valued at $13,604,021.22. This represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kirk Lusk sold 19,929 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $24.18, for a total value of $481,883.22. Following the completion of the transaction, the chief financial officer directly owned 558,756 shares in the company, valued at $13,510,720.08. This trade represents a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 322,668 shares of company stock worth $8,147,141. Company insiders own 15.20% of the company’s stock.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of Heritage Insurance by 83.7% during the 1st quarter. CWM LLC now owns 9,951 shares of the insurance provider’s stock valued at $143,000 after buying an additional 4,535 shares in the last quarter. Bailard Inc. increased its stake in Heritage Insurance by 48.6% during the first quarter. Bailard Inc. now owns 24,779 shares of the insurance provider’s stock worth $357,000 after acquiring an additional 8,100 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in Heritage Insurance during the first quarter valued at approximately $228,000. Mackenzie Financial Corp lifted its stake in shares of Heritage Insurance by 307.3% in the 1st quarter. Mackenzie Financial Corp now owns 102,652 shares of the insurance provider’s stock valued at $1,480,000 after purchasing an additional 77,452 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Heritage Insurance in the 1st quarter worth approximately $388,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.