Heritage Insurance (NYSE:HRTG) Shares Down 3.6% – Time to Sell?

Heritage Insurance Holdings, Inc. (NYSE:HRTG) shares traded down 3.6% on Tuesday . The company traded as low as $24.33 and last traded at $24.43. 303,708 shares were traded during mid-day trading, a decline of 23% from the average session volume of 395,272 shares. The stock had previously closed at $25.35.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Truist Financial boosted their target price on Heritage Insurance from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. StockNews.com raised shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Piper Sandler raised their price objective on Heritage Insurance from $19.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th.

Heritage Insurance Stock Down 2.9%

The stock has a market cap of $762.74 million, a P/E ratio of 9.84 and a beta of 0.95. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $17.82 and a two-hundred day simple moving average of $13.89.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.53. The business had revenue of $211.52 million during the quarter, compared to analysts’ expectations of $213.68 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. On average, equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling

In related news, Director Panagiotis Apostolou sold 25,000 shares of Heritage Insurance stock in a transaction on Friday, May 9th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the sale, the director now owns 164,719 shares in the company, valued at $4,183,862.60. The trade was a 13.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ernie J. Garateix acquired 5,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was bought at an average price of $12.77 per share, with a total value of $63,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. This represents a 0.40% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 21,000 shares of company stock valued at $280,450 over the last ninety days. 15.20% of the stock is owned by insiders.

Institutional Trading of Heritage Insurance

Several institutional investors and hedge funds have recently bought and sold shares of HRTG. SG Americas Securities LLC bought a new position in shares of Heritage Insurance in the 4th quarter worth approximately $134,000. Exchange Traded Concepts LLC purchased a new stake in Heritage Insurance in the fourth quarter worth $296,000. Empowered Funds LLC raised its holdings in Heritage Insurance by 5.1% in the fourth quarter. Empowered Funds LLC now owns 115,131 shares of the insurance provider’s stock worth $1,393,000 after purchasing an additional 5,579 shares in the last quarter. New York State Common Retirement Fund lifted its position 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 buying an additional 2,000 shares during the period. Finally, Ieq Capital LLC bought a new stake in shares of Heritage Insurance during the 4th quarter valued at $303,000. 59.03% of the stock is currently 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.