Ernie Garateix Sells 8,334 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the company’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $25.39, for a total transaction of $211,600.26. Following the sale, the chief executive officer directly owned 1,069,289 shares in the company, valued at approximately $27,149,247.71. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Heritage Insurance Trading Up 4.3%

NYSE HRTG traded up $1.11 on Monday, hitting $26.76. 354,434 shares of the stock were exchanged, compared to its average volume of 335,439. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. Heritage Insurance Holdings, Inc. has a 52-week low of $13.27 and a 52-week high of $31.98. The firm has a market capitalization of $822.16 million, a P/E ratio of 4.23 and a beta of 0.95. The stock has a fifty day moving average price of $26.32 and a two-hundred day moving average price of $26.52.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Monday, March 9th. The insurance provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.54. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%.The firm had revenue of $215.32 million for the quarter, compared to analysts’ expectations of $212.60 million. Research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

A number of large investors have recently modified their holdings of HRTG. Y Intercept Hong Kong Ltd acquired a new position in shares of Heritage Insurance during the third quarter valued at about $984,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Heritage Insurance by 514.4% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 76,798 shares of the insurance provider’s stock valued at $1,934,000 after purchasing an additional 64,298 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Heritage Insurance by 69.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock worth $13,128,000 after purchasing an additional 216,019 shares in the last quarter. Principal Financial Group Inc. grew its position 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 purchasing an additional 43,113 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Heritage Insurance by 829.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 125,828 shares of the insurance provider’s stock worth $3,138,000 after purchasing an additional 112,288 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on HRTG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday, December 29th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Citigroup reaffirmed a “market perform” rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Finally, Truist Financial boosted their price objective on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. 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. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $33.50.

About Heritage Insurance

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.