Brokerages Set Heritage Insurance Holdings, Inc. (NYSE:HRTG) PT at $33.50

Heritage Insurance Holdings, Inc. (NYSE:HRTG) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $33.50.

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday, December 29th. Citigroup reissued a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday. Zacks Research lowered Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Truist Financial increased their target price on Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Monday.

Heritage Insurance Trading Up 4.9%

NYSE:HRTG opened at $28.11 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $868.82 million, a price-to-earnings ratio of 4.45 and a beta of 0.95. The firm has a fifty day simple moving average of $26.25 and a two-hundred day simple moving average of $26.27. Heritage Insurance has a 12 month low of $11.87 and a 12 month high of $31.98.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.54. The firm had revenue of $215.32 million for the quarter, compared to analyst estimates of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 51.04%. Analysts expect that Heritage Insurance will post 1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ernie J. Garateix sold 8,334 shares of Heritage Insurance stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $24.12, for a total transaction of $201,016.08. Following the completion of the transaction, the chief executive officer directly owned 1,120,170 shares in the company, valued at $27,018,500.40. This trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 25,002 shares of company stock worth $663,636 in the last 90 days. Corporate insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HRTG. Marshall Wace LLP grew its position in Heritage Insurance by 58.9% in the 2nd quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider’s stock worth $23,498,000 after purchasing an additional 349,168 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Heritage Insurance by 223.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 462,075 shares of the insurance provider’s stock worth $11,635,000 after buying an additional 319,434 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Heritage Insurance by 290.8% during the 2nd quarter. Prudential Financial Inc. now owns 383,582 shares of the insurance provider’s stock worth $9,567,000 after buying an additional 285,425 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Heritage Insurance by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock worth $55,039,000 after buying an additional 234,296 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Heritage Insurance by 69.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock valued at $13,128,000 after acquiring an additional 216,019 shares in the last quarter. 59.03% of the stock is owned by 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.