Heritage Insurance (NYSE:HRTG) Reaches New 12-Month High – Should You Buy?

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) reached a new 52-week high during trading on Monday . The stock traded as high as $17.36 and last traded at $16.90, with a volume of 85069 shares trading hands. The stock had previously closed at $16.23.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th.

Heritage Insurance Stock Down 0.5 %

The business has a 50 day moving average price of $13.27 and a 200 day moving average price of $12.12. 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 stock has a market cap of $742.67 million, a PE ratio of 6.93 and a beta of 0.93.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.83. The business had revenue of $210.26 million for the quarter, compared to analyst estimates of $199.87 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. Equities research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Insider Activity at Heritage Insurance

In other Heritage Insurance news, CEO Ernie J. Garateix purchased 5,000 shares of the stock in a transaction on Friday, March 14th. The shares were bought at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the completion of the transaction, the chief executive officer now owns 1,270,808 shares of the company’s stock, valued at $16,228,218.16. This trade represents a 0.40 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul L. Whiting acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $13.35 per share, with a total value of $133,500.00. Following the completion of the transaction, the director now directly owns 79,576 shares of the company’s stock, valued at approximately $1,062,339.60. This represents a 14.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 21,000 shares of company stock worth $280,450. 14.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HRTG. New York State Common Retirement Fund increased its holdings in Heritage Insurance by 222.2% in the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 2,000 shares in the last quarter. Triumph Capital Management acquired a new stake in shares of Heritage Insurance in the fourth quarter valued at about $121,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Heritage Insurance during the fourth quarter worth about $133,000. SG Americas Securities LLC acquired a new position in shares of Heritage Insurance during the 4th quarter worth about $134,000. Finally, Brandywine Global Investment Management LLC lifted its stake in Heritage Insurance by 21.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock valued at $150,000 after buying an additional 2,210 shares in the last quarter. Hedge funds and other 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.