Insider Buying: Heritage Insurance Holdings, Inc. (NYSE:HRTG) Chairman Acquires 4,437 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Chairman Richard A. Widdicombe acquired 4,437 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $14.55 per share, for a total transaction of $64,558.35. Following the acquisition, the chairman now directly owns 696,497 shares in the company, valued at approximately $10,134,031.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Insurance Stock Down 6.5 %

NYSE HRTG traded down $0.98 during trading hours on Tuesday, hitting $14.15. 681,312 shares of the company were exchanged, compared to its average volume of 430,938. The company has a 50 day moving average of $8.06 and a two-hundred day moving average of $8.32. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. Heritage Insurance Holdings, Inc. has a 52-week low of $4.28 and a 52-week high of $15.40. The firm has a market cap of $433.50 million, a price-to-earnings ratio of 8.70 and a beta of 0.90.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.23. The business had revenue of $203.57 million during the quarter, compared to analysts’ expectations of $196.81 million. Heritage Insurance had a return on equity of 24.02% and a net margin of 6.07%. During the same period in the prior year, the firm posted $0.32 EPS. Equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Heritage Insurance

Large investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Heritage Insurance in the 2nd quarter valued at about $30,000. Tower Research Capital LLC TRC acquired a new stake in shares of Heritage Insurance in the 4th quarter valued at about $40,000. Valmark Advisers Inc. acquired a new stake in shares of Heritage Insurance in the 2nd quarter valued at about $80,000. Sei Investments Co. purchased a new stake in Heritage Insurance during the 2nd quarter valued at approximately $102,000. Finally, Fortis Capital Advisors LLC purchased a new stake in Heritage Insurance during the 1st quarter valued at approximately $134,000. 59.03% of the stock is owned by institutional investors and hedge funds.

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.