Insider Selling: Heritage Insurance (NYSE:HRTG) Insider Sells 29,133 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Moura sold 29,133 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $26.63, for a total value of $775,811.79. Following the completion of the sale, the insider owned 210,535 shares of the company’s stock, valued at approximately $5,606,547.05. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Heritage Insurance Price Performance

Shares of Heritage Insurance stock traded up $1.11 during trading on Monday, reaching $26.76. The company’s stock had a trading volume of 354,434 shares, compared to its average volume of 335,439. The stock has a 50-day moving average price of $26.32 and a two-hundred day moving average price of $26.52. The stock has a market capitalization of $822.16 million, a P/E ratio of 4.23 and a beta of 0.95. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16. Heritage Insurance Holdings, Inc. has a one year low of $13.27 and a one year high of $31.98.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.54. The firm had revenue of $215.32 million for the quarter, compared to analyst estimates of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. As a group, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup reissued a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Truist Financial lifted their target price on Heritage Insurance from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Heritage Insurance in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Heritage Insurance presently has an average rating of “Buy” and an average target price of $33.50.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new position in Heritage Insurance in the third quarter valued at approximately $984,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Heritage Insurance by 514.4% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 76,798 shares of the insurance provider’s stock valued at $1,934,000 after acquiring an additional 64,298 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Heritage Insurance by 69.6% during the 2nd 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 during the period. Principal Financial Group Inc. grew its holdings in Heritage Insurance by 201.7% during the 3rd quarter. Principal Financial Group Inc. now owns 64,490 shares of the insurance provider’s stock worth $1,624,000 after acquiring an additional 43,113 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Heritage Insurance by 829.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 125,828 shares of the insurance provider’s stock valued at $3,138,000 after acquiring an additional 112,288 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.