Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 8,334 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of Heritage Insurance stock in a transaction on Monday, October 20th. The shares were sold at an average price of $23.01, for a total value of $191,765.34. Following the completion of the sale, the chief executive officer directly owned 1,229,140 shares of the company’s stock, valued at approximately $28,282,511.40. This represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Heritage Insurance Price Performance

Shares of NYSE:HRTG opened at $23.36 on Thursday. Heritage Insurance Holdings, Inc. has a 52 week low of $9.71 and a 52 week high of $29.10. The company has a market cap of $724.63 million, a P/E ratio of 6.73 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $24.05 and a 200-day simple moving average of $22.42.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.52. Heritage Insurance had a return on equity of 33.36% and a net margin of 12.71%.The firm had revenue of $208.04 million for the quarter, compared to analysts’ expectations of $212.12 million. Equities research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HRTG. Marshall Wace LLP lifted its stake in shares of Heritage Insurance by 58.9% during 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 in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Heritage Insurance by 223.9% in the third quarter. Assenagon Asset Management S.A. now owns 462,075 shares of the insurance provider’s stock worth $11,635,000 after acquiring an additional 319,434 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Heritage Insurance by 290.8% in the second quarter. Prudential Financial Inc. now owns 383,582 shares of the insurance provider’s stock worth $9,567,000 after acquiring an additional 285,425 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Heritage Insurance by 69.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock worth $13,128,000 after acquiring an additional 216,019 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Heritage Insurance by 33.6% in 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 in the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on HRTG. Wall Street Zen cut Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Heritage Insurance in a report on Wednesday, October 8th. Truist Financial lifted their target price on Heritage Insurance from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Zacks Research cut Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

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.