Paul Whiting Purchases 16,000 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul Whiting purchased 16,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $23.56 per share, with a total value of $376,960.00. Following the completion of the acquisition, the director directly owned 103,126 shares of the company’s stock, valued at $2,429,648.56. This represents a 18.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Insurance Stock Up 0.5%

HRTG traded up $0.11 on Wednesday, reaching $23.26. The company’s stock had a trading volume of 745,126 shares, compared to its average volume of 357,405. The stock has a 50 day moving average of $26.59 and a two-hundred day moving average of $27.03. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $705.79 million, a price-to-earnings ratio of 3.57 and a beta of 1.03. Heritage Insurance Holdings, Inc. has a fifty-two week low of $16.83 and a fifty-two week high of $31.98.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.34). The business had revenue of $212.66 million during the quarter, compared to analyst estimates of $215.39 million. Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. As a group, analysts forecast that Heritage Insurance Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HRTG has been the subject of a number of research reports. Wall Street Zen cut Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Zacks Research cut Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, May 11th. Truist Financial reduced their price objective on Heritage Insurance from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Weiss Ratings cut Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Heritage Insurance has a consensus rating of “Hold” and a consensus price target of $36.00.

Institutional Investors Weigh In On Heritage Insurance

Hedge funds have recently modified their holdings of the stock. Kestra Private Wealth Services LLC raised its position in Heritage Insurance by 1.9% in the first quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock worth $690,000 after acquiring an additional 489 shares in the last quarter. Royal Bank of Canada raised its position in Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 497 shares in the last quarter. Tudor Investment Corp ET AL raised its position in Heritage Insurance by 0.3% in the third quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock worth $4,693,000 after acquiring an additional 503 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock worth $196,000 after acquiring an additional 546 shares in the last quarter. Finally, Graham Capital Management L.P. raised its position in Heritage Insurance by 4.2% in the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock worth $567,000 after acquiring an additional 789 shares in the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

About Heritage Insurance

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.