StockNews.com has updated the shares of Wealth Insurance (NYSE: HRTG – Get an Appraisal) from a hold rating to a buy rating in a research report sent to investors Monday morning.
Several other research analysts have also recently commented on the stock. Piper Sandler lowered her price target on Heritage Insurance shares to $6.00 in a Thursday, June 9 report. JMP Securities cut its price target on Heritage Insurance shares from $10.00 to $8.00 and set a market outperformance rating for the stock in a Monday, July 18 research report. Finally, TheStreet downgraded shares of Heritage Insurance from a c- to a d+ rating in a research report on Tuesday, May 3.
Wealth insurance stock up 0.9%
Shares of HRTG opened at $3.19 on Monday. Heritage Insurance has a 12 month minimum of $2.26 and a 12 month maximum of $7.53. The company’s 50-day moving average is $2.93 and its 200-day moving average is $4.59. The stock has a market capitalization of $84.44 million, a PE ratio of -0.47 and a beta of 0.88. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt ratio of 0.44.
Insider buying and selling
In other news, CFO Kirk Lusk bought 10,000 shares of Heritage Insurance in a deal that took place on Thursday, June 30. The shares were acquired at an average price of $2.61 per share, for a total transaction of $26,100.00. Following the transaction, the CFO now owns 233,736 shares of the company, valued at approximately $610,050.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 10.80% of the shares are currently held by insiders of the company.
Institutional wealth insurance trading
Hedge funds have recently increased or reduced their holdings in the stock. Acuitas Investments LLC increased its position in Heritage Insurance by 76.0% in the first quarter. Acuitas Investments LLC now owns 830,310 shares of the insurance provider valued at $5,928,000 after buying an additional 358,603 shares last quarter. McIlrath & Eck LLC acquired a new position in shares of Heritage Insurance during the first quarter worth $43,000. Boston Partners increased its holdings of Heritage Insurance shares by 19.2% in the first quarter. Boston Partners now owns 376,164 shares of the insurance provider worth $2,686,000 after purchasing an additional 60,697 shares during the period. Herold Advisors Inc. acquired a new position in shares of Heritage Insurance during the first quarter worth $43,000. Finally, Avantax Planning Partners Inc. increased its stake in Heritage Insurance shares by 13.5% during the first quarter. Avantax Planning Partners Inc. now owns 100,707 shares of the insurance provider worth $719,000 after purchasing an additional 12,000 shares during the period. Institutional investors and hedge funds hold 59.33% of the company’s shares.
Heritage Insurance Company Profile
(Get a rating)
Heritage Insurance Holdings, Inc., through its subsidiaries, offers personal and commercial home insurance products. The company offers personal residential property insurance for single family homeowners and condominium owners, as well as rental property insurance in the states of 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 residential property and personal wind insurance.
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