Heritage Insurance (NYSE:HRTG) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Heritage Insurance Holdings, Inc. (NYSE:HRTG) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $26.36 and traded as high as $26.45. Heritage Insurance shares last traded at $26.2090, with a volume of 237,113 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HRTG shares. Truist Financial boosted their price objective on Heritage Insurance from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Citigroup reaffirmed a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a research note on Friday. Finally, Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $33.50.

Heritage Insurance Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $26.36 and a 200-day moving average price of $26.63. The firm has a market cap of $805.14 million, a price-to-earnings ratio of 4.15 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Monday, March 9th. The insurance provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.54. The firm had revenue of $215.32 million during the quarter, compared to the consensus estimate of $212.60 million. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%. On average, analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Sharon Binnun sold 7,893 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $28.35, for a total transaction of $223,766.55. Following the completion of the transaction, the chief accounting officer directly owned 142,388 shares of the company’s stock, valued at $4,036,699.80. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Timothy Moura sold 29,133 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $26.63, for a total transaction of $775,811.79. Following the completion of the sale, the insider owned 210,535 shares of the company’s stock, valued at approximately $5,606,547.05. The trade was a 12.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,028 shares of company stock valued at $1,629,129 over the last quarter. Corporate insiders own 14.00% of the company’s stock.

Institutional Trading of Heritage Insurance

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC purchased a new stake in shares of Heritage Insurance during the 3rd quarter worth $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Heritage Insurance in the third quarter valued at about $26,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Heritage Insurance in the fourth quarter valued at about $31,000. Royal Bank of Canada boosted its holdings in Heritage Insurance by 72.6% during the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after buying an additional 497 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Heritage Insurance during the third quarter worth about $36,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

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.