Heritage Insurance (NYSE:HRTG) Stock Price Passes Below 50 Day Moving Average – Time to Sell?

Heritage Insurance Holdings, Inc. (NYSE:HRTG) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $23.40 and traded as low as $21.36. Heritage Insurance shares last traded at $21.62, with a volume of 297,533 shares changing hands.

Analysts Set New Price Targets

HRTG has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Heritage Insurance from $19.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Wall Street Zen raised Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Truist Financial upped their price target on Heritage Insurance from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, May 8th.

Heritage Insurance Trading Down 0.1%

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average is $23.40 and its two-hundred day moving average is $17.16. The stock has a market capitalization of $670.00 million, a PE ratio of 8.55 and a beta of 1.01.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.53. Heritage Insurance had a return on equity of 26.95% and a net margin of 9.29%. The company had revenue of $211.52 million during the quarter, compared to analysts’ expectations of $213.68 million. On average, analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Heritage Insurance

In other news, Director Panagiotis Apostolou sold 25,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the sale, the director owned 164,719 shares of the company’s stock, valued at approximately $4,183,862.60. The trade was a 13.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its stake in Heritage Insurance by 46.1% in the 4th quarter. Ameriprise Financial Inc. now owns 384,948 shares of the insurance provider’s stock valued at $4,658,000 after acquiring an additional 121,518 shares during the period. Man Group plc purchased a new stake in shares of Heritage Insurance in the fourth quarter worth about $662,000. Raymond James Financial Inc. acquired a new stake in Heritage Insurance during the fourth quarter worth $1,123,000. American Century Companies Inc. increased its position in shares of Heritage Insurance by 14.8% during the fourth quarter. American Century Companies Inc. now owns 589,899 shares of the insurance provider’s stock worth $7,138,000 after purchasing an additional 76,032 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Heritage Insurance by 323.8% in the 4th quarter. Prudential Financial Inc. now owns 93,975 shares of the insurance provider’s stock valued at $1,137,000 after buying an additional 71,800 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.