Insider Buying: Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Acquires 50,000 Shares of Stock

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

Heritage Insurance Price Performance

NYSE:HRTG traded down $0.18 on Tuesday, hitting $8.04. The company had a trading volume of 342,139 shares, compared to its average volume of 414,006. The firm has a 50 day moving average of $9.23 and a two-hundred day moving average of $7.64. The stock has a market capitalization of $246.35 million, a price-to-earnings ratio of 5.01 and a beta of 0.92. Heritage Insurance Holdings, Inc. has a 52 week low of $3.66 and a 52 week high of $11.23. 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 (NYSE:HRTG) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.14). Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. The business had revenue of $191.30 million for the quarter, compared to the consensus estimate of $189.05 million. During the same period in the previous year, the business posted $0.55 EPS. On average, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on HRTG. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 target price on shares of Heritage Insurance in a report on Monday, April 1st. JMP Securities reaffirmed a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Truist Financial lifted their target price on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, StockNews.com lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Heritage Insurance currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Institutional Investors Weigh In On Heritage Insurance

Large investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new stake in Heritage Insurance in the third quarter worth $2,171,000. Acadian Asset Management LLC grew its holdings in shares of Heritage Insurance by 110.3% during the third quarter. Acadian Asset Management LLC now owns 376,832 shares of the insurance provider’s stock valued at $2,444,000 after buying an additional 197,656 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Heritage Insurance during the third quarter valued at about $172,000. Ritholtz Wealth Management grew its holdings in shares of Heritage Insurance by 232.0% during the fourth quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after buying an additional 23,826 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Heritage Insurance during the third quarter valued at about $109,000. 59.03% of the stock is currently 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.