Heritage Insurance (NYSE:HRTG) Sets New 52-Week High – Here’s Why

Heritage Insurance Holdings, Inc. (NYSE:HRTG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.60 and last traded at $19.21, with a volume of 243720 shares trading hands. The stock had previously closed at $18.87.

Analyst Ratings Changes

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

Heritage Insurance Trading Down 0.4 %

The stock’s 50 day moving average is $13.68 and its 200-day moving average is $12.26. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a market cap of $804.96 million, a P/E ratio of 7.52 and a beta of 0.93.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.83. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The business had revenue of $210.26 million during the quarter, compared to analysts’ expectations of $199.87 million. Research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting purchased 10,000 shares of the stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $13.35 per share, with a total value of $133,500.00. Following the transaction, the director now owns 79,576 shares of the company’s stock, valued at approximately $1,062,339.60. This trade represents a 14.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirk Lusk acquired 6,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average price of $13.85 per share, with a total value of $83,100.00. Following the purchase, the chief financial officer now owns 618,756 shares in the company, valued at $8,569,770.60. This represents a 0.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 21,000 shares of company stock worth $280,450 over the last quarter. Insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Heritage Insurance

A number of hedge funds have recently modified their holdings of HRTG. Dimensional Fund Advisors LP raised its holdings in Heritage Insurance by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider’s stock valued at $18,993,000 after buying an additional 193,590 shares during the period. Vanguard Group Inc. grew its position in shares of Heritage Insurance by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,328,135 shares of the insurance provider’s stock worth $16,070,000 after acquiring an additional 9,452 shares during the last quarter. Invesco Ltd. lifted its position in Heritage Insurance by 24.0% during the 4th quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider’s stock worth $11,430,000 after acquiring an additional 182,624 shares during the period. Pacific Ridge Capital Partners LLC increased its stake in shares of Heritage Insurance by 33.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider’s stock worth $9,844,000 after acquiring an additional 205,195 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Heritage Insurance during the 4th quarter worth $7,799,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

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.