Arkadios Wealth Advisors Sells 3,881 Shares of Heritage Insurance Holdings, Inc. $HRTG

Arkadios Wealth Advisors decreased its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 3.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 115,889 shares of the insurance provider’s stock after selling 3,881 shares during the quarter. Arkadios Wealth Advisors’ holdings in Heritage Insurance were worth $2,890,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. USA Financial Formulas bought a new stake in Heritage Insurance in the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC lifted its position in Heritage Insurance by 2,413.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock worth $28,000 after buying an additional 1,062 shares during the last quarter. AlphaQuest LLC lifted its position in Heritage Insurance by 252.3% in the 2nd quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock worth $81,000 after buying an additional 2,334 shares during the last quarter. Strs Ohio bought a new stake in Heritage Insurance in the 1st quarter worth approximately $127,000. Finally, Quantbot Technologies LP bought a new stake in Heritage Insurance in the 1st quarter worth approximately $141,000. Institutional investors own 59.03% of the company’s stock.

Heritage Insurance Trading Up 0.8%

NYSE HRTG opened at $23.26 on Friday. The stock has a market cap of $721.48 million, a P/E ratio of 6.70 and a beta of 0.98. Heritage Insurance Holdings, Inc. has a fifty-two week low of $9.71 and a fifty-two week high of $29.10. The stock has a 50 day simple moving average of $24.23 and a two-hundred day simple moving average of $22.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on HRTG shares. Wall Street Zen downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Weiss Ratings upgraded Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Truist Financial boosted their price objective on Heritage Insurance from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Finally, Zacks Research downgraded Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Heritage Insurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Insider Buying and Selling at Heritage Insurance

In other news, CFO Kirk Lusk sold 20,000 shares of Heritage Insurance stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $24.17, for a total transaction of $483,400.00. Following the sale, the chief financial officer owned 598,756 shares of the company’s stock, valued at approximately $14,471,932.52. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ernie J. Garateix sold 25,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $24.61, for a total transaction of $615,250.00. Following the transaction, the chief executive officer owned 1,245,808 shares in the company, valued at $30,659,334.88. This represents a 1.97% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 302,668 shares of company stock worth $7,663,554. 15.20% of the stock is owned by corporate insiders.

Heritage Insurance Profile

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.