Heritage Insurance (NYSE:HRTG) Hits New 52-Week High – Still a Buy?

Heritage Insurance Holdings, Inc. (NYSE:HRTG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.60 and last traded at $19.21, with a volume of 243720 shares trading hands. The stock had previously closed at $18.87.

Wall Street Analyst Weigh In

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

Heritage Insurance Stock Performance

The company’s 50 day moving average is $13.96 and its 200-day moving average is $12.36. The company has a market capitalization of $828.87 million, a P/E ratio of 7.74 and a beta of 0.93. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42.

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

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were acquired at an average cost of $13.35 per share, for a total transaction of $133,500.00. Following the completion of the transaction, the director now owns 79,576 shares of the company’s stock, valued at approximately $1,062,339.60. The trade was a 14.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirk Lusk acquired 6,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $13.85 per share, with a total value of $83,100.00. Following the transaction, the chief financial officer now owns 618,756 shares in the company, valued at approximately $8,569,770.60. This trade represents a 0.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 21,000 shares of company stock worth $280,450. Company insiders own 14.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HRTG. New York State Common Retirement Fund raised its holdings in Heritage Insurance by 222.2% during the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 2,000 shares during the period. Triumph Capital Management bought a new stake in Heritage Insurance during the 4th quarter valued at approximately $121,000. Cantor Fitzgerald L. P. purchased a new position in Heritage Insurance in the 4th quarter worth approximately $133,000. SG Americas Securities LLC bought a new position in Heritage Insurance in the 4th quarter worth approximately $134,000. Finally, Brandywine Global Investment Management LLC grew its holdings in Heritage Insurance by 21.7% during the 4th quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock valued at $150,000 after buying an additional 2,210 shares in the last quarter. 59.03% of the stock is 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.