Ernie Garateix Sells 7,000 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $28.36, for a total transaction of $198,520.00. Following the transaction, the chief executive officer directly owned 1,193,806 shares in the company, valued at $33,856,338.16. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Heritage Insurance Trading Up 1.1%

Shares of HRTG stock opened at $29.12 on Friday. The stock has a market cap of $900.10 million, a P/E ratio of 6.03 and a beta of 0.96. Heritage Insurance Holdings, Inc. has a 1 year low of $9.89 and a 1 year high of $31.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $26.66 and a 200 day simple moving average of $24.25.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $1.10. The firm had revenue of $212.46 million for the quarter, compared to analyst estimates of $210.12 million. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%. On average, research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in HRTG. Tudor Investment Corp ET AL increased its position in Heritage Insurance by 0.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock worth $4,693,000 after purchasing an additional 503 shares in the last quarter. Cantor Fitzgerald L. P. grew its stake in shares of Heritage Insurance by 15.9% during the third quarter. Cantor Fitzgerald L. P. now owns 12,750 shares of the insurance provider’s stock worth $321,000 after buying an additional 1,750 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Heritage Insurance during the third quarter worth $25,000. Kestra Private Wealth Services LLC acquired a new position in shares of Heritage Insurance during the third quarter worth $611,000. Finally, Triumph Capital Management bought a new position in shares of Heritage Insurance in the 3rd quarter valued at $88,000. 59.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HRTG. Truist Financial upped their price objective on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Weiss Ratings upgraded shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Finally, Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.50.

Heritage Insurance Company 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.