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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul Whiting purchased 16,000 shares of Heritage Insurance stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average price of $23.56 per share, with a total value of $376,960.00. Following the completion of the transaction, the director directly owned 103,126 shares in the company, valued at approximately $2,429,648.56. This represents a 18.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

Heritage Insurance Stock Up 0.5%

HRTG opened at $23.26 on Thursday. The company has a fifty day moving average price of $26.51 and a 200-day moving average price of $27.03. The firm has a market capitalization of $705.79 million, a P/E ratio of 3.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. Heritage Insurance Holdings, Inc. has a one year low of $16.83 and a one year high of $31.98.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Truist Financial cut their target price on shares of Heritage Insurance from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Finally, Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a research report 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.00.

Hedge Funds Weigh In On Heritage Insurance

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Heritage Insurance by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after purchasing an additional 234,296 shares during the period. JPMorgan Chase & Co. increased its position in shares of Heritage Insurance by 1,078.7% in the second quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock valued at $3,514,000 after acquiring an additional 128,927 shares during the period. Nuveen LLC raised its stake in shares of Heritage Insurance by 181.7% during the fourth quarter. Nuveen LLC now owns 169,454 shares of the insurance provider’s stock valued at $4,958,000 after acquiring an additional 109,307 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Heritage Insurance by 27.2% during the third quarter. Pacific Ridge Capital Partners LLC now owns 458,929 shares of the insurance provider’s stock valued at $11,556,000 after acquiring an additional 98,246 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Heritage Insurance by 92.5% during the first quarter. Bank of America Corp DE now owns 194,689 shares of the insurance provider’s stock valued at $5,111,000 after acquiring an additional 93,548 shares during the last quarter. 59.03% of the stock is owned by hedge funds and other institutional investors.

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.