Heritage Insurance (NYSE:HRTG) Stock Price Up 4.4% - Still a Buy?

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) were up 4.4% on Wednesday . The stock traded as high as $18.02 and last traded at $18.06. Approximately 79,951 shares traded hands during trading, a decline of 79% from the average daily volume of 378,553 shares. The stock had previously closed at $17.30.

Analysts Set New Price Targets

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

Heritage Insurance Trading Down 1.0 %

The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average price of $13.68 and a two-hundred day moving average price of $12.26. The firm has a market capitalization of $800.25 million, a price-to-earnings ratio of 7.47 and a beta of 0.93.

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

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, CEO Ernie J. Garateix bought 5,000 shares of Heritage Insurance stock in a transaction on Friday, March 14th. The stock was bought at an average price of $12.77 per share, with a total value of $63,850.00. Following the completion of the acquisition, the chief executive officer now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul L. Whiting purchased 10,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $13.35 per share, for a total transaction of $133,500.00. Following the purchase, the director now directly owns 79,576 shares in the company, valued at approximately $1,062,339.60. This represents a 14.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 21,000 shares of company stock worth $280,450 over the last three months. Insiders own 14.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HRTG. State Street Corp boosted its position in Heritage Insurance by 27.4% during the 3rd quarter. State Street Corp now owns 371,057 shares of the insurance provider's stock worth $4,542,000 after purchasing an additional 79,802 shares during the period. SG Americas Securities LLC acquired a new stake in Heritage Insurance in the fourth quarter worth $134,000. Exchange Traded Concepts LLC bought a new position in Heritage Insurance in the 4th quarter worth about $296,000. Empowered Funds LLC grew its stake in shares of Heritage Insurance by 5.1% in the fourth quarter. Empowered Funds LLC now owns 115,131 shares of the insurance provider's stock worth $1,393,000 after purchasing an additional 5,579 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Heritage Insurance by 222.2% in the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock worth $35,000 after acquiring an additional 2,000 shares during the period. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

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.