Heritage Insurance (NYSE:HRTG) Stock Crosses Above 50 Day Moving Average of $8.59

Heritage Insurance Holdings, Inc. (NYSE:HRTG) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.59 and traded as high as $9.77. Heritage Insurance shares last traded at $9.51, with a volume of 190,531 shares changing hands.

Analysts Set New Price Targets

HRTG has been the topic of a number of recent research reports. StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Heritage Insurance in a research note on Monday, April 1st. Truist Financial raised their price objective on shares of Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Heritage Insurance in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Heritage Insurance Trading Down 0.7 %

The company’s fifty day simple moving average is $8.59 and its two-hundred day simple moving average is $7.35. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $287.39 million, a price-to-earnings ratio of 5.53 and a beta of 0.89.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Monday, March 11th. The insurance provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.70. The company had revenue of $186.97 million for the quarter, compared to analyst estimates of $185.11 million. Heritage Insurance had a net margin of 6.16% and a return on equity of 26.69%. Research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul L. Whiting acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $8.14 per share, for a total transaction of $162,800.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $162,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,800 shares of company stock worth $28,943 over the last ninety days. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Heritage Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new stake in shares of Heritage Insurance during the fourth quarter worth $40,000. Essex Investment Management Co. LLC increased its stake in Heritage Insurance by 11.2% in the 4th quarter. Essex Investment Management Co. LLC now owns 372,076 shares of the insurance provider’s stock valued at $2,426,000 after buying an additional 37,581 shares during the last quarter. Victory Capital Management Inc. increased its stake in Heritage Insurance by 13.0% in the 4th quarter. Victory Capital Management Inc. now owns 104,000 shares of the insurance provider’s stock valued at $678,000 after buying an additional 12,000 shares during the last quarter. Ritholtz Wealth Management increased its stake in Heritage Insurance by 232.0% in the 4th quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after buying an additional 23,826 shares during the last quarter. Finally, Legato Capital Management LLC increased its stake in Heritage Insurance by 20.2% in the 4th quarter. Legato Capital Management LLC now owns 149,980 shares of the insurance provider’s stock valued at $978,000 after buying an additional 25,155 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors and hedge funds.

About Heritage Insurance

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.