Heritage Insurance (NYSE:HRTG) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) passed above its 50-day moving average during trading on Monday . The stock has a 50-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 trading hands.

Wall Street Analyst Weigh In

HRTG has been the topic of a number of recent analyst reports. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Insurance in a research report on Friday, March 27th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Finally, Truist Financial boosted their price objective on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Heritage Insurance has a consensus rating of “Buy” and a consensus price target of $33.50.

Heritage Insurance Stock Performance

The stock has a market capitalization of $774.57 million, a PE ratio of 3.99 and a beta of 0.95. The business has a 50 day moving average price of $26.35 and a 200 day moving average price of $26.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83.

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

Insider Transactions at Heritage Insurance

In related news, insider Timothy Moura sold 29,133 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $26.63, for a total value of $775,811.79. Following the completion of the transaction, the insider directly owned 210,535 shares in the company, valued at $5,606,547.05. The trade was a 12.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sharon Binnun sold 7,893 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $28.35, for a total value of $223,766.55. Following the completion of the transaction, the chief accounting officer directly owned 142,388 shares in the company, valued at $4,036,699.80. This trade represents a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 62,028 shares of company stock worth $1,629,129. Corporate insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HRTG. Marshall Wace LLP boosted its holdings in Heritage Insurance by 58.9% in the second 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 during the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 valued at $11,635,000 after buying an additional 319,434 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Heritage Insurance by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after buying an additional 234,296 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Heritage Insurance by 69.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock worth $13,128,000 after buying an additional 216,019 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Heritage Insurance by 1,078.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock worth $3,514,000 after buying an additional 128,927 shares during 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 (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.