Heritage Insurance Holdings, Inc. (NYSE:HRTG) Receives $33.50 Average Target Price from Analysts

Heritage Insurance Holdings, Inc. (NYSE:HRTG) has earned a consensus rating of “Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $33.50.

A number of equities analysts recently issued reports on the company. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Truist Financial boosted their price target on shares of Heritage Insurance from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Insurance in a research note on Friday, March 27th. Finally, Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th.

Insider Activity at Heritage Insurance

In related news, insider Timothy Moura sold 29,133 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $26.63, for a total value of $775,811.79. Following the transaction, the insider owned 210,535 shares of the company’s stock, valued at approximately $5,606,547.05. This trade represents a 12.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sharon Binnun sold 9,200 shares of Heritage Insurance stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $25.72, for a total value of $236,624.00. Following the transaction, the chief accounting officer owned 133,188 shares of the company’s stock, valued at $3,425,595.36. This trade represents a 6.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 130,918 shares of company stock valued at $3,446,606. 14.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Heritage Insurance by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after acquiring an additional 234,296 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Heritage Insurance by 8.7% in the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock valued at $25,793,000 after purchasing an additional 82,190 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Heritage Insurance by 11.5% in the third quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock valued at $22,371,000 after purchasing an additional 91,847 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Heritage Insurance by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 665,902 shares of the insurance provider’s stock valued at $19,486,000 after purchasing an additional 34,996 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Heritage Insurance by 11.4% during the fourth quarter. State Street Corp now owns 507,577 shares of the insurance provider’s stock valued at $14,852,000 after purchasing an additional 52,041 shares in the last quarter. 59.03% of the stock is owned by hedge funds and other institutional investors.

Heritage Insurance Stock Performance

Shares of Heritage Insurance stock opened at $29.01 on Wednesday. The business has a 50-day simple moving average of $27.26 and a 200 day simple moving average of $26.99. Heritage Insurance has a one year low of $16.83 and a one year high of $31.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $880.36 million, a price-to-earnings ratio of 4.59 and a beta of 1.03.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.54. The business had revenue of $215.32 million for the quarter, compared to analyst estimates of $212.60 million. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%. On average, research analysts anticipate that Heritage Insurance will post 4.7 earnings per share for the current fiscal year.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.