Heritage Insurance (NYSE:HRTG) Shares Cross Above 50 Day Moving Average of $8.59

Heritage Insurance Holdings, Inc. (NYSE:HRTG)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.59 and traded as high as $9.77. Heritage Insurance shares last traded at $9.51, with a volume of 190,531 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a research report on Monday, April 15th. Truist Financial boosted their price objective on Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price objective on shares of Heritage Insurance in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Heritage Insurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Heritage Insurance Stock Up 2.8 %

The firm has a 50 day simple moving average of $8.76 and a two-hundred day simple moving average of $7.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $317.00 million, a P/E ratio of 6.10 and a beta of 0.90.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Monday, March 11th. The insurance provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.70. The firm had revenue of $186.97 million for the quarter, compared to the consensus estimate of $185.11 million. Heritage Insurance had a return on equity of 26.69% and a net margin of 6.16%. Equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current year.

Insider Buying and Selling at Heritage Insurance

In other news, Director Paul L. Whiting acquired 20,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $8.14 per share, with a total value of $162,800.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at $162,800. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 3,800 shares of company stock valued at $28,943 in the last quarter. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Heritage Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Heritage Insurance during the fourth quarter worth $40,000. Ritholtz Wealth Management acquired a new stake in shares of Heritage Insurance during the third quarter worth $67,000. Quadrature Capital Ltd acquired a new stake in shares of Heritage Insurance during the third quarter worth $109,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Heritage Insurance during the third quarter valued at $172,000. Finally, Jump Financial LLC grew its holdings in shares of Heritage Insurance by 137.4% during the third quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider’s stock valued at $313,000 after buying an additional 27,888 shares in the last quarter. Institutional investors own 59.03% of the company’s stock.

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.