Insider Buying: Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Acquires $417,500.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting acquired 50,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $8.35 per share, with a total value of $417,500.00. Following the acquisition, the director now owns 59,662 shares in the company, valued at approximately $498,177.70. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Heritage Insurance Stock Performance

Shares of NYSE HRTG opened at $8.60 on Friday. The company has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $7.67. The stock has a market cap of $263.47 million, a price-to-earnings ratio of 5.24 and a beta of 0.92. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. Heritage Insurance Holdings, Inc. has a 12 month low of $3.73 and a 12 month high of $11.23.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.14). The business had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, analysts predict that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Friday. JMP Securities reaffirmed a “market perform” rating on shares of Heritage Insurance in a research report on Monday, April 15th. Truist Financial boosted their target price on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Piper Sandler reissued a “neutral” rating and issued a $9.00 target price on shares of Heritage Insurance in a research report on Monday, April 1st. Two 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 currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Institutional Trading of Heritage Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Heritage Insurance during the 4th quarter worth about $40,000. Quadrature Capital Ltd purchased a new position in Heritage Insurance during the third quarter worth approximately $109,000. Fortis Capital Advisors LLC acquired a new stake in Heritage Insurance in the first quarter valued at approximately $134,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Heritage Insurance in the first quarter valued at approximately $155,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Heritage Insurance in the third quarter valued at approximately $172,000. 59.03% of the stock is 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.