Ernie J. Garateix Buys 5,000 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average price of $8.21 per share, for a total transaction of $41,050.00. Following the transaction, the chief executive officer now owns 1,067,584 shares in the company, valued at $8,764,864.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Heritage Insurance Stock Up 3.5 %

Shares of NYSE:HRTG opened at $8.32 on Thursday. Heritage Insurance Holdings, Inc. has a 1 year low of $3.73 and a 1 year high of $11.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77. The stock’s 50-day moving average is $9.27 and its 200 day moving average is $7.67. The company has a market cap of $254.89 million, a PE ratio of 5.07 and a beta of 0.92.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.14). The business had revenue of $191.30 million for the quarter, compared to the consensus estimate of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. During the same quarter in the prior year, the company earned $0.55 EPS. Sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Heritage Insurance

Several institutional investors and hedge funds have recently modified their holdings of HRTG. Fortis Capital Advisors LLC bought a new position in shares of Heritage Insurance in the 1st quarter worth approximately $134,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Heritage Insurance during the 1st quarter valued at $155,000. Empowered Funds LLC grew its position in shares of Heritage Insurance by 8.1% in the 1st quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider’s stock worth $1,030,000 after buying an additional 7,203 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Heritage Insurance by 265.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 314,856 shares of the insurance provider’s stock worth $3,353,000 after acquiring an additional 228,655 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Heritage Insurance during the 4th quarter valued at about $40,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HRTG. StockNews.com cut Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Truist Financial lifted their price target on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Finally, Piper Sandler reiterated a “neutral” rating and set a $9.00 price target on shares of Heritage Insurance in a report on Monday, April 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Heritage Insurance presently has an average rating of “Hold” and an average target price of $9.00.

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.