Heritage Insurance (NYSE:HRTG) Reaches New 12-Month High at $16.55

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $16.55 and last traded at $16.44, with a volume of 381853 shares traded. The stock had previously closed at $15.36.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HRTG shares. Truist Financial upped their price objective on Heritage Insurance from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Piper Sandler raised Heritage Insurance from a "neutral" rating to an "overweight" rating and increased their price target for the company from $9.00 to $13.00 in a research report on Friday, August 9th. Finally, StockNews.com raised Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $10.67.

Heritage Insurance Stock Up 5.7 %

The stock has a market cap of $497.53 million, a PE ratio of 9.90 and a beta of 0.90. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $9.27 and a 200 day moving average of $8.81.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.23. The business had revenue of $203.57 million for the quarter, compared to analyst estimates of $196.81 million. Heritage Insurance had a return on equity of 24.02% and a net margin of 6.07%. During the same quarter last year, the company earned $0.32 EPS. On average, equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.45 EPS for the current fiscal year.

Insider Transactions at Heritage Insurance

In related news, Chairman Richard A. Widdicombe purchased 4,437 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $14.55 per share, for a total transaction of $64,558.35. Following the purchase, the chairman now directly owns 696,497 shares of the company's stock, valued at $10,134,031.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Richard A. Widdicombe bought 4,437 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $14.55 per share, with a total value of $64,558.35. Following the transaction, the chairman now directly owns 696,497 shares in the company, valued at $10,134,031.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ernie J. Garateix purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $8.59 per share, for a total transaction of $42,950.00. Following the purchase, the chief executive officer now directly owns 1,072,584 shares in the company, valued at $9,213,496.56. The disclosure for this purchase can be found here. Insiders own 14.00% of the company's stock.

Institutional Trading of Heritage Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in 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 acquiring an additional 12,000 shares during the period. Essex Investment Management Co. LLC increased its holdings in shares of Heritage Insurance by 11.2% in the fourth quarter. Essex Investment Management Co. LLC now owns 372,076 shares of the insurance provider's stock valued at $2,426,000 after purchasing an additional 37,581 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Heritage Insurance during the fourth quarter worth approximately $40,000. Assenagon Asset Management S.A. raised its stake in shares of Heritage Insurance by 265.3% during the first quarter. Assenagon Asset Management S.A. now owns 314,856 shares of the insurance provider's stock worth $3,353,000 after purchasing an additional 228,655 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Heritage Insurance by 8.1% during the first quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider's stock worth $1,030,000 after purchasing an additional 7,203 shares during the period. Hedge funds and other institutional investors own 59.03% of the company's stock.

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.