Heritage Insurance Holdings, Inc. (NYSE:HRTG – Get Free Report) shares rose 4.9% during trading on Monday . The stock traded as high as $35.00 and last traded at $35.5140. Approximately 100,788 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 367,543 shares. The stock had previously closed at $33.84.
Analysts Set New Price Targets
A number of brokerages have issued reports on HRTG. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Truist Financial boosted their price objective on Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Piper Sandler increased their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Heritage Insurance in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Heritage Insurance currently has a consensus rating of “Buy” and a consensus target price of $36.50.
View Our Latest Report on HRTG
Heritage Insurance Stock Down 1.3%
Heritage Insurance (NYSE:HRTG – Get Free Report) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.80. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The business had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Heritage Insurance news, CEO Ernie J. Garateix sold 5,000 shares of Heritage Insurance stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.31, for a total transaction of $171,550.00. Following the completion of the sale, the chief executive officer directly owned 1,055,955 shares in the company, valued at $36,229,816.05. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy Moura sold 15,104 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $32.49, for a total transaction of $490,728.96. Following the completion of the transaction, the insider directly owned 144,941 shares of the company’s stock, valued at approximately $4,709,133.09. This represents a 9.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,204 shares of company stock valued at $1,866,683 over the last three months. Corporate insiders own 9.20% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Heritage Insurance by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 546 shares during the last quarter. Millennium Management LLC lifted its position in Heritage Insurance by 39.8% in the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock worth $4,657,000 after buying an additional 91,982 shares during the last quarter. Empowered Funds LLC boosted its stake in Heritage Insurance by 8.4% in the first quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock worth $1,800,000 after buying an additional 9,728 shares in the last quarter. Strs Ohio bought a new position in Heritage Insurance during the first quarter valued at approximately $127,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Heritage Insurance by 1,078.7% during the second quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock worth $3,514,000 after acquiring an additional 128,927 shares in the last quarter. Institutional investors own 59.03% of the company’s stock.
About Heritage Insurance
Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.
Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.
Featured Articles
- Five stocks we like better than Heritage Insurance
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Receive News & Ratings for Heritage Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Insurance and related companies with MarketBeat.com's FREE daily email newsletter.
