Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock Has Average Target Price of $36.50

Heritage Insurance Holdings, Inc. (NYSE:HRTG) has been given a consensus recommendation of “Buy” by the five analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $36.50.

Several brokerages have commented on HRTG. Weiss Ratings raised shares of Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Truist Financial upped their price objective on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Piper Sandler upped their price objective on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th.

Heritage Insurance Price Performance

Heritage Insurance stock opened at $33.10 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $984.09 million, a P/E ratio of 4.72 and a beta of 0.92. The business has a 50-day moving average of $32.96 and a 200-day moving average of $28.13. Heritage Insurance has a 1 year low of $20.48 and a 1 year high of $36.50.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. The business had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.71 million. On average, equities analysts anticipate that Heritage Insurance will post 5.5 EPS for the current year.

Insider Buying and Selling

In other news, insider Timothy Johns sold 3,500 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $34.74, for a total transaction of $121,590.00. Following the sale, the insider owned 21,938 shares of the company’s stock, valued at $762,126.12. This trade represents a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Sharon Binnun sold 6,565 shares of Heritage Insurance stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $33.81, for a total value of $221,962.65. Following the transaction, the chief accounting officer owned 80,623 shares in the company, valued at $2,725,863.63. This trade represents a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 77,069 shares of company stock valued at $2,578,235. 9.20% of the stock is owned by company insiders.

Institutional Trading of Heritage Insurance

A number of large investors have recently bought and sold shares of HRTG. Optiver Holding B.V. boosted its holdings in shares of Heritage Insurance by 510.0% in the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock valued at $37,000 after buying an additional 1,173 shares during the period. Harbour Investments Inc. acquired a new stake in shares of Heritage Insurance during the fourth quarter worth $50,000. Pinnacle Holdings LLC acquired a new stake in shares of Heritage Insurance during the second quarter worth $48,000. Caitong International Asset Management Co. Ltd lifted its position in Heritage Insurance by 3,774.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider’s stock valued at $85,000 after acquiring an additional 2,831 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Heritage Insurance in the 2nd quarter valued at $92,000. 59.03% of the stock is owned by institutional investors.

About Heritage Insurance

Heritage Insurance Holdings, Inc is a property and casualty insurance company that provides residential property coverage through its insurance subsidiaries. Its products primarily include homeowners insurance and related coverage for personal and commercial residential properties, including protection against risks such as wind, fire and other property damage.

The company focuses on serving customers in catastrophe-exposed coastal markets, particularly in the Southeastern United States.