Heritage Insurance (NYSE:HRTG) Stock Passes Above Fifty Day Moving Average – Should You Sell?

Heritage Insurance Holdings, Inc. (NYSE:HRTG) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.73 and traded as high as $11.91. Heritage Insurance shares last traded at $11.76, with a volume of 294,304 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Monday, November 25th.

Heritage Insurance Stock Performance

The firm’s 50 day moving average price is $11.73 and its two-hundred day moving average price is $12.12. The firm has a market cap of $360.69 million, a PE ratio of 4.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Insurance announced that its board has initiated a stock repurchase program on Monday, December 9th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the insurance provider to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, Director Nicholas George Pappas sold 4,000 shares of Heritage Insurance stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $12.64, for a total transaction of $50,560.00. Following the completion of the sale, the director now directly owns 76,314 shares in the company, valued at $964,608.96. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.00% of the company’s stock.

Hedge Funds Weigh In On Heritage Insurance

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in Heritage Insurance in the 3rd quarter valued at approximately $49,000. Assenagon Asset Management S.A. boosted its position in shares of Heritage Insurance by 87.6% during the third quarter. Assenagon Asset Management S.A. now owns 235,019 shares of the insurance provider’s stock worth $2,877,000 after buying an additional 109,714 shares during the period. GSA Capital Partners LLP grew its stake in shares of Heritage Insurance by 20.3% in the third quarter. GSA Capital Partners LLP now owns 100,055 shares of the insurance provider’s stock valued at $1,225,000 after buying an additional 16,911 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Heritage Insurance in the 3rd quarter valued at $206,000. Finally, Empowered Funds LLC lifted its stake in Heritage Insurance by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 109,552 shares of the insurance provider’s stock worth $1,341,000 after acquiring an additional 5,494 shares in the last quarter. 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.