Heritage Insurance (NYSE:HRTG) Shares Up 7.8% - Still a Buy?

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report)'s share price was up 7.8% during mid-day trading on Tuesday . The stock traded as high as $15.39 and last traded at $15.41. Approximately 84,922 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 376,074 shares. The stock had previously closed at $14.29.

Analysts Set New Price Targets

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

Heritage Insurance Stock Performance

The company has a market capitalization of $695.38 million, a price-to-earnings ratio of 6.49 and a beta of 0.93. The stock's 50 day moving average price is $13.03 and its 200 day moving average price is $12.10. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.83. The business had revenue of $210.26 million for 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%. Analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling at Heritage Insurance

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

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently modified their holdings of HRTG. FMR LLC raised its stake in Heritage Insurance by 28,416.9% in the 3rd quarter. FMR LLC now owns 87,547 shares of the insurance provider's stock worth $1,072,000 after purchasing an additional 87,240 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Heritage Insurance by 412.8% in the third quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider's stock valued at $235,000 after buying an additional 15,468 shares in the last quarter. State Street Corp boosted its stake in shares of Heritage Insurance by 27.4% in the third quarter. State Street Corp now owns 371,057 shares of the insurance provider's stock valued at $4,542,000 after buying an additional 79,802 shares during the period. SG Americas Securities LLC acquired a new stake in Heritage Insurance during the fourth quarter worth approximately $134,000. Finally, Exchange Traded Concepts LLC bought a new position in Heritage Insurance during the 4th quarter worth $296,000. Institutional investors own 59.03% of the company's stock.

Heritage Insurance Company Profile

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.