Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Nicholas George Pappas Sells 1,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Nicholas George Pappas sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $10.87, for a total value of $10,870.00. Following the transaction, the director now owns 81,400 shares of the company’s stock, valued at approximately $884,818. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Nicholas George Pappas also recently made the following trade(s):

• On Thursday, February 29th, Nicholas George Pappas sold 1,300 shares of Heritage Insurance stock. The shares were sold at an average price of $7.06, for a total transaction of $9,178.00.
• On Friday, February 2nd, Nicholas George Pappas sold 1,500 shares of Heritage Insurance stock. The shares were sold at an average price of $5.93, for a total transaction of $8,895.00.

Heritage Insurance Stock Performance

Shares of HRTG opened at $10.30 on Friday. 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 firm’s 50 day moving average is $7.67 and its 200-day moving average is $6.99. Heritage Insurance Holdings, Inc. has a 12-month low of $2.85 and a 12-month high of $11.23. The stock has a market capitalization of $311.11 million, a P/E ratio of 5.99 and a beta of 0.90.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Monday, March 11th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.70. The firm had revenue of $186.97 million for the quarter, compared to analyst estimates of $185.11 million. Heritage Insurance had a net margin of 6.16% and a return on equity of 26.69%. Equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently modified their holdings of the stock. Panagora Asset Management Inc. raised its holdings in shares of Heritage Insurance by 38.0% during the first quarter. Panagora Asset Management Inc. now owns 136,909 shares of the insurance provider’s stock valued at $978,000 after acquiring an additional 37,672 shares during the period. BlackRock Inc. raised its stake in Heritage Insurance by 3.4% during the 1st quarter. BlackRock Inc. now owns 2,505,233 shares of the insurance provider’s stock valued at $17,889,000 after purchasing an additional 82,533 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Heritage Insurance by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,326,983 shares of the insurance provider’s stock valued at $9,474,000 after purchasing an additional 50,432 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Heritage Insurance in the first quarter valued at $147,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Heritage Insurance by 14.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 74,430 shares of the insurance provider’s stock worth $532,000 after buying an additional 9,541 shares during the period. 59.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HRTG shares. JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a research report on Wednesday, March 13th. Piper Sandler reissued a “neutral” rating and set a $9.00 target price on shares of Heritage Insurance in a report on Monday, April 1st. Truist Financial upped their target price on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

About Heritage Insurance

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.