Paul L. Whiting Acquires 50,000 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting acquired 50,000 shares of Heritage Insurance stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $8.35 per share, with a total value of $417,500.00. Following the purchase, the director now owns 59,662 shares in the company, valued at $498,177.70. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Heritage Insurance Trading Up 3.5 %

NYSE:HRTG opened at $8.32 on Thursday. The company has a market capitalization of $254.89 million, a P/E ratio of 5.07 and a beta of 0.92. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. Heritage Insurance Holdings, Inc. has a 12 month low of $3.73 and a 12 month high of $11.23. The firm has a fifty day simple moving average of $9.27 and a 200-day simple moving average of $7.67.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.14). Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. The firm had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $189.05 million. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on HRTG. JMP Securities reaffirmed a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Piper Sandler restated a “neutral” rating and set a $9.00 target price on shares of Heritage Insurance in a research note on Monday, April 1st. StockNews.com cut Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Truist Financial boosted their price target on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Institutional Investors Weigh In On Heritage Insurance

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in Heritage Insurance by 110.3% during the 3rd quarter. Acadian Asset Management LLC now owns 376,832 shares of the insurance provider’s stock valued at $2,444,000 after acquiring an additional 197,656 shares during the period. Essex Investment Management Co. LLC raised its holdings in shares of Heritage Insurance by 11.2% during the fourth quarter. Essex Investment Management Co. LLC now owns 372,076 shares of the insurance provider’s stock worth $2,426,000 after purchasing an additional 37,581 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in 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 valued at $3,353,000 after purchasing an additional 228,655 shares during the period. EAM Investors LLC acquired a new stake in Heritage Insurance during the 3rd quarter worth about $1,912,000. Finally, Legato Capital Management LLC raised its stake in shares of Heritage Insurance by 20.2% during the 4th quarter. Legato Capital Management LLC now owns 149,980 shares of the insurance provider’s stock valued at $978,000 after buying an additional 25,155 shares during the last quarter. 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.