Paul L. Whiting Purchases 50,000 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting bought 50,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $8.35 per share, with a total value of $417,500.00. Following the completion of the acquisition, the director now owns 59,662 shares of the company’s stock, valued at approximately $498,177.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Heritage Insurance Stock Performance

Heritage Insurance stock opened at $8.32 on Thursday. Heritage Insurance Holdings, Inc. has a fifty-two week low of $3.73 and a fifty-two week high of $11.23. The company has a market capitalization of $254.89 million, a price-to-earnings ratio of 5.07 and a beta of 0.92. The stock has a fifty day moving average of $9.27 and a two-hundred day moving average of $7.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its stake in Heritage Insurance by 101.5% in the third quarter. Assenagon Asset Management S.A. now owns 107,738 shares of the insurance provider’s stock valued at $699,000 after purchasing an additional 54,272 shares during the last quarter. Jump Financial LLC grew its holdings in Heritage Insurance by 137.4% in the 3rd quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider’s stock valued at $313,000 after buying an additional 27,888 shares during the period. Barclays PLC increased its stake in shares of Heritage Insurance by 68.3% during the 3rd quarter. Barclays PLC now owns 58,944 shares of the insurance provider’s stock valued at $383,000 after acquiring an additional 23,926 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Heritage Insurance during the 3rd quarter worth about $2,171,000. Finally, Acadian Asset Management LLC boosted its position in shares of Heritage Insurance by 110.3% in the third quarter. Acadian Asset Management LLC now owns 376,832 shares of the insurance provider’s stock worth $2,444,000 after acquiring an additional 197,656 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HRTG has been the subject of several research analyst reports. 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 target on Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. JMP Securities reiterated a “market perform” rating on shares of Heritage Insurance in a research report on Monday, April 15th. Finally, StockNews.com downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Heritage Insurance has an average rating of “Hold” and an average price target of $9.00.

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.