Heritage Insurance (NYSE:HRTG) Hits New 12-Month High - Time to Buy?

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $19.60 and last traded at $19.21, with a volume of 243720 shares. The stock had previously closed at $18.87.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Heritage Insurance from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th.

Heritage Insurance Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $804.96 million, a price-to-earnings ratio of 7.52 and a beta of 0.93. The stock has a 50-day moving average price of $13.68 and a 200 day moving average price of $12.26.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.83. The firm had revenue of $210.26 million during the quarter, compared to the consensus estimate of $199.87 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. As a group, equities research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Heritage Insurance

In other news, Director Paul L. Whiting purchased 10,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $13.35 per share, with a total value of $133,500.00. Following the purchase, the director now owns 79,576 shares in the company, valued at $1,062,339.60. This trade represents a 14.37 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ernie J. Garateix acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $12.77 per share, with a total value of $63,850.00. Following the purchase, the chief executive officer now directly owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. This trade represents a 0.40 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 21,000 shares of company stock valued at $280,450. Insiders own 14.00% of the company's stock.

Institutional Trading of Heritage Insurance

Large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its holdings in shares of Heritage Insurance by 222.2% during the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock worth $35,000 after buying an additional 2,000 shares in the last quarter. GAMMA Investing LLC boosted its position in Heritage Insurance by 8,472.2% during the 1st quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider's stock worth $450,000 after buying an additional 3,050 shares during the period. Triumph Capital Management bought a new stake in Heritage Insurance in the fourth quarter valued at approximately $121,000. Cantor Fitzgerald L. P. acquired a new stake in Heritage Insurance in the fourth quarter worth $133,000. Finally, SG Americas Securities LLC acquired a new stake in Heritage Insurance in the 4th quarter valued at $134,000. 59.03% of the stock is 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.

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