Heritage Insurance (NYSE:HRTG) CEO Sells $88,125.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 2,500 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $35.25, for a total value of $88,125.00. Following the transaction, the chief executive officer owned 1,035,955 shares in the company, valued at approximately $36,517,413.75. This represents a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Heritage Insurance Price Performance

Shares of NYSE HRTG opened at $34.40 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.83 and a quick ratio of 0.83. Heritage Insurance Holdings, Inc. has a 1-year low of $20.48 and a 1-year high of $36.50. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 4.90 and a beta of 0.92. The business has a 50-day moving average of $31.94 and a 200-day moving average of $27.79.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.25 by $0.80. The firm had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. On average, equities analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors and hedge funds have recently modified their holdings of HRTG. BlackRock Inc. purchased a new stake in Heritage Insurance during the second quarter valued at about $60,842,000. Dimensional Fund Advisors LP increased its position in shares of Heritage Insurance by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider’s stock worth $32,732,000 after acquiring an additional 36,879 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Heritage Insurance in the 2nd quarter valued at approximately $14,437,000. Bank of America Corp DE acquired a new position in Heritage Insurance in the 2nd quarter worth approximately $6,070,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Heritage Insurance by 52.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider’s stock worth $5,740,000 after purchasing an additional 75,339 shares during the period. 59.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on HRTG. Piper Sandler raised their price objective on Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Truist Financial increased their target price on Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned 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.

About Heritage Insurance

Heritage Insurance Holdings, Inc is a property and casualty insurance company that provides residential property coverage through its insurance subsidiaries. Its products primarily include homeowners insurance and related coverage for personal and commercial residential properties, including protection against risks such as wind, fire and other property damage.

The company focuses on serving customers in catastrophe-exposed coastal markets, particularly in the Southeastern United States.