Heritage Insurance (NYSE:HRTG) Stock Price Breaks Below 50-Day Moving Average of $3.29

Heritage Insurance Holdings, Inc. (NYSE: HRTG – Get Rating) stock price broke below its 50-day moving average during Monday’s trading session. The stock has a 50-day moving average of $3.29 and is trading as low as $2.64. Heritage Insurance shares last traded at $2.64, with volume trading at 76,630 shares.

HRTG has been the subject of a number of recent analyst reports. Piper Sandler cut her price target on Heritage Insurance shares to $6.00 in a Thursday, June 9 research note. StockNews.com upgraded Heritage Insurance from a “buy” rating to a “hold” rating in a Thursday, May 19 report. Finally, TheStreet downgraded Heritage Insurance from a “c-” rating to a “d+” rating in a Tuesday, May 3 research report.

The company has a debt ratio of 0.44, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $69.88 million, a P/E ratio of -0.72 and a beta of 0.92. The company has a 50-day simple moving average of $3.29 and a 200-day simple moving average of $5.13.

Heritage Insurance (NYSE:HRTG – Get Rating) last released quarterly earnings data on Thursday, May 5. The insurance provider reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.50). Heritage Insurance had a negative net margin of 15.61% and a negative return on equity of 10.95%. The company posted revenue of $158.61 million in the quarter, versus analyst estimates of $153.74 million. During the same period of the previous year, the company achieved EPS of ($0.19). Sell-side analysts expect Heritage Insurance Holdings, Inc. to post -1.5 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 5. Shareholders of record on Tuesday, June 14 received a dividend of $0.06 per share. This represents an annualized dividend of $0.24 and a dividend yield of 9.09%. The ex-dividend date was Monday, June 13. Heritage Insurance’s payout ratio is currently -6.54%.

In related news, Chief Financial Officer Kirk Lusk acquired 10,000 shares of the company in a transaction that took place on Thursday, June 30. The shares were acquired at an average cost of $2.61 per share, for a total transaction of $26,100.00. Following the completion of the acquisition, the CFO now directly owns 233,736 shares of the company, valued at approximately $610,050.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders hold 8.50% of the shares of the company.

A number of institutional investors have recently increased or reduced their stake in the company. McIlrath & Eck LLC bought a new stake in Heritage Insurance stock in Q1 worth $43,000. Boston Partners increased its position in Heritage Insurance by 19.2% during the first quarter. Boston Partners now owns 376,164 shares of the insurance provider valued at $2,686,000 after acquiring an additional 60,697 shares in the last quarter. Herold Advisors Inc. acquired a new stake in Heritage Insurance during Q1 worth approximately $43,000. Avantax Planning Partners Inc. increased its stake in Heritage Insurance by 13.5% during the first quarter. Avantax Planning Partners Inc. now owns 100,707 shares of the insurance provider worth $719,000 after acquiring an additional 12,000 shares during the period. Finally, Acuitas Investments LLC increased its stake in the shares of Heritage Insurance by 76.0% in the 1st quarter. Acuitas Investments LLC now owns 830,310 shares of the insurance provider valued at $5,928,000 after purchasing an additional 358,603 shares during the period. Hedge funds and other institutional investors own 59.33% of the company’s shares.

Heritage Insurance Company Profile (NYSE: HRTG)

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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