Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie J. Garateix acquired 5,000 shares of Heritage Insurance stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $8.21 per share, for a total transaction of $41,050.00. Following the completion of the purchase, the chief executive officer now directly owns 1,067,584 shares of the company's stock, valued at $8,764,864.64. The acquisition was disclosed in a filing with the SEC, which is available through this link.
Heritage Insurance Stock Down 2.1 %
HRTG opened at $8.05 on Wednesday. The business's 50-day moving average price is $9.24 and its 200-day moving average price is $7.66. Heritage Insurance Holdings, Inc. has a 12 month low of $3.66 and a 12 month high of $11.23. The company has a market cap of $246.50 million, a P/E ratio of 4.91 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 (NYSE:HRTG - Get Free Report) last released its earnings results on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share (EPS) 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 business 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 business posted $0.55 earnings per share. On average, equities analysts expect that Heritage Insurance Holdings, Inc. will post 1.52 EPS for the current year.
Institutional Investors Weigh In On Heritage Insurance
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Several hedge funds and other institutional investors have recently made changes to their positions in HRTG. Essex Investment Management Co. LLC purchased a new position in shares of Heritage Insurance during the 3rd quarter valued at $2,171,000. EAM Investors LLC bought a new position in shares of Heritage Insurance in the third quarter worth about $1,912,000. Assenagon Asset Management S.A. grew its position 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 in the last quarter. Acadian Asset Management LLC raised 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 purchasing an additional 197,656 shares during the period. Finally, Jump Financial LLC lifted its holdings in Heritage Insurance by 137.4% in the 3rd quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider's stock worth $313,000 after purchasing an additional 27,888 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company's stock.
Analysts Set New Price Targets
A number of research firms have weighed in on HRTG. Truist Financial boosted their target price on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. StockNews.com lowered shares of Heritage Insurance from a "buy" rating to a "hold" rating in a research note on Thursday, May 2nd. Piper Sandler reiterated a "neutral" rating and issued a $9.00 target price on shares of Heritage Insurance in a report on Monday, April 1st. Finally, JMP Securities reissued a "market perform" rating on shares of Heritage Insurance in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Heritage Insurance has a consensus rating of "Hold" and an average target price of $9.00.
Get Our Latest Analysis on HRTG
Heritage Insurance Company Profile
(
Get Free Report)
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.
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