Heritage Insurance (NYSE:HRTG) Shares Cross Above 50 Day Moving Average of $8.59

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.59 and traded as high as $9.77. Heritage Insurance shares last traded at $9.51, with a volume of 190,531 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price objective on Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. JMP Securities reiterated a “market perform” rating on shares of Heritage Insurance in a research note on Monday, April 15th. Piper Sandler reiterated a “neutral” rating and issued a $9.00 price objective on shares of Heritage Insurance in a research note on Monday, April 1st. Finally, StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Heritage Insurance presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Heritage Insurance Stock Performance

The firm has a market capitalization of $317.00 million, a P/E ratio of 6.10 and a beta of 0.90. The stock has a 50-day moving average of $8.76 and a 200 day moving average of $7.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Monday, March 11th. The insurance provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.70. The business had revenue of $186.97 million for the quarter, compared to analyst estimates of $185.11 million. Heritage Insurance had a return on equity of 26.69% and a net margin of 6.16%. On average, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current year.

Insider Buying and Selling

In other Heritage Insurance news, Director Paul L. Whiting purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $8.14 per share, for a total transaction of $162,800.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $162,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 3,800 shares of company stock worth $28,943 in the last three months. Insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in Heritage Insurance in the 4th quarter valued at $40,000. Ritholtz Wealth Management bought a new position in Heritage Insurance in the 3rd quarter valued at $67,000. Victory Capital Management Inc. lifted its stake in shares of Heritage Insurance by 13.0% in the 4th quarter. Victory Capital Management Inc. now owns 104,000 shares of the insurance provider’s stock valued at $678,000 after purchasing an additional 12,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Heritage Insurance by 20.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,791 shares of the insurance provider’s stock valued at $609,000 after purchasing an additional 15,776 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Heritage Insurance in the 3rd quarter valued at $109,000. 59.03% of the stock is currently owned by institutional investors.

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.