Heritage Insurance (NYSE:HRTG) Sets New 1-Year High at $16.88

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $16.88 and last traded at $16.87, with a volume of 88375 shares trading hands. The stock had previously closed at $16.24.

Analysts Set New Price Targets

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

Heritage Insurance Stock Performance

The company has a market capitalization of $510.09 million, a P/E ratio of 10.15 and a beta of 0.90. The stock's fifty day moving average price is $9.82 and its 200-day moving average price is $9.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.23. Heritage Insurance had a return on equity of 26.27% and a net margin of 7.37%. The business had revenue of $203.57 million for the quarter, compared to analyst estimates of $196.81 million. During the same period in the previous year, the firm earned $0.32 EPS. As a group, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Insider Transactions at Heritage Insurance

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

Hedge Funds Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in HRTG. Innealta Capital LLC acquired a new position in shares of Heritage Insurance during the 2nd quarter worth $30,000. Valmark Advisers Inc. acquired a new position in Heritage Insurance during the second quarter worth about $80,000. Sei Investments Co. bought a new position in shares of Heritage Insurance in the second quarter worth about $102,000. Fortis Capital Advisors LLC acquired a new stake in shares of Heritage Insurance in the 1st quarter valued at approximately $134,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Heritage Insurance during the 1st quarter valued at approximately $155,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

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.