Insider Selling: Heritage Insurance (NYSE:HRTG) CFO Sells $341,600.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.16, for a total transaction of $341,600.00. Following the completion of the sale, the chief financial officer owned 492,522 shares in the company, valued at $16,824,551.52. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Heritage Insurance Price Performance

NYSE:HRTG traded down $0.31 during trading hours on Wednesday, reaching $33.38. 176,198 shares of the company’s stock were exchanged, compared to its average volume of 371,063. The company has a market capitalization of $992.39 million, a P/E ratio of 4.75 and a beta of 0.89. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $27.72 and its two-hundred day simple moving average is $26.43.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.80. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The company had revenue of $214.19 million for the quarter, compared to analysts’ expectations of $212.71 million. Sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heritage Insurance in a report on Friday, August 7th. Piper Sandler lifted their price target on Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial upped their price objective on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $36.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC purchased a new stake in Heritage Insurance in the 3rd quarter worth about $25,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Heritage Insurance in the 4th quarter valued at about $31,000. Royal Bank of Canada increased its holdings in shares of Heritage Insurance by 72.6% in the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 497 shares during the period. Optiver Holding B.V. lifted its position in shares of Heritage Insurance by 510.0% in the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Harbour Investments Inc. purchased a new stake in shares of Heritage Insurance in the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors 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.