Kirk Lusk Sells 13,197 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk sold 13,197 shares of Heritage Insurance stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $24.77, for a total value of $326,889.69. Following the sale, the chief financial officer directly owned 585,559 shares of the company’s stock, valued at $14,504,296.43. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Kirk Lusk also recently made the following trade(s):

• On Friday, September 12th, Kirk Lusk sold 20,000 shares of Heritage Insurance stock. The stock was sold at an average price of $24.17, for a total transaction of $483,400.00.

Heritage Insurance Stock Performance

Shares of NYSE HRTG opened at $24.62 on Monday. The company has a 50 day simple moving average of $23.04 and a two-hundred day simple moving average of $21.59. The stock has a market cap of $763.68 million, a price-to-earnings ratio of 7.09 and a beta of 0.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. Heritage Insurance Holdings, Inc. has a 12 month low of $8.70 and a 12 month high of $29.10.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.52. The firm had revenue of $208.04 million for the quarter, compared to analyst estimates of $212.12 million. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. As a group, analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Heritage Insurance in a report on Saturday, September 27th. Wall Street Zen downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Zacks Research upgraded Heritage Insurance to a “strong-buy” rating in a research report on Monday, August 11th. Finally, Truist Financial lifted their target price on shares of Heritage Insurance from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $31.50.

Institutional Trading of Heritage Insurance

Several institutional investors have recently bought and sold shares of the business. Marshall Wace LLP raised its stake in shares of Heritage Insurance by 58.9% during the 2nd quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider’s stock worth $23,498,000 after buying an additional 349,168 shares during the period. American Century Companies Inc. raised its position in Heritage Insurance by 17.7% during the second quarter. American Century Companies Inc. now owns 796,605 shares of the insurance provider’s stock worth $19,867,000 after acquiring an additional 119,791 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Heritage Insurance by 33.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider’s stock worth $16,180,000 after acquiring an additional 163,142 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Heritage Insurance by 69.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock valued at $13,128,000 after purchasing an additional 216,019 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Heritage Insurance by 1.6% in the second quarter. Geode Capital Management LLC now owns 517,803 shares of the insurance provider’s stock valued at $12,917,000 after purchasing an additional 8,112 shares during the period. 59.03% of the stock is owned by institutional investors and hedge funds.

About Heritage Insurance

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.