Heritage Insurance (NYSE:HRTG) Shares Up 4.4% – What’s Next?

Heritage Insurance Holdings, Inc. (NYSE:HRTG) shares rose 4.4% on Wednesday . The company traded as high as $18.02 and last traded at $18.06. Approximately 79,951 shares changed 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 Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th.

Heritage Insurance Trading Up 5.6 %

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 market cap of $805.48 million, a price-to-earnings ratio of 7.52 and a beta of 0.93. The firm has a 50-day moving average price of $13.54 and a 200 day moving average price of $12.21.

Heritage Insurance (NYSE:HRTG) last posted its 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. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The firm had revenue of $210.26 million during the quarter, compared to analysts’ expectations of $199.87 million. As a group, sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling

In other Heritage Insurance news, Director Paul L. Whiting acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $13.35 per share, with a total value of $133,500.00. Following the purchase, the director now owns 79,576 shares of the company’s stock, valued at $1,062,339.60. This represents a 14.37 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernie J. Garateix acquired 5,000 shares of the stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of $12.77 per share, with a total value of $63,850.00. Following the transaction, the chief executive officer now directly owns 1,270,808 shares of the company’s stock, valued at $16,228,218.16. This represents a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 21,000 shares of company stock worth $280,450. Corporate insiders own 14.00% of the company’s stock.

Hedge Funds Weigh In On Heritage Insurance

Several hedge funds have recently modified their holdings of HRTG. Exchange Traded Concepts LLC bought a new position in shares of Heritage Insurance in the fourth quarter valued at about $296,000. Ieq Capital LLC bought a new stake in shares of Heritage Insurance during the 4th quarter worth $303,000. Raymond James Financial Inc. acquired a new stake in shares of Heritage Insurance in the 4th quarter valued at approximately $1,123,000. American Century Companies Inc. grew its stake in shares of Heritage Insurance by 14.8% during the fourth quarter. American Century Companies Inc. now owns 589,899 shares of the insurance provider’s stock worth $7,138,000 after buying an additional 76,032 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Heritage Insurance by 323.8% during the 4th quarter. Prudential Financial Inc. now owns 93,975 shares of the insurance provider’s stock valued at $1,137,000 after acquiring an additional 71,800 shares in the last quarter. 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.