Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 25,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 25,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $24.61, for a total value of $615,250.00. Following the transaction, the chief executive officer directly owned 1,245,808 shares in the company, valued at approximately $30,659,334.88. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Heritage Insurance Stock Up 1.4%

Shares of HRTG stock opened at $24.83 on Thursday. Heritage Insurance Holdings, Inc. has a 1-year low of $8.70 and a 1-year high of $26.64. The stock’s fifty day moving average price is $22.14 and its 200 day moving average price is $20.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $770.20 million, a price-to-earnings ratio of 7.16 and a beta of 1.05.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.52. The firm had revenue of $208.04 million for the quarter, compared to the consensus estimate of $212.12 million. Heritage Insurance had a return on equity of 33.36% and a net margin of 12.71%. On average, research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of Heritage Insurance to a “strong-buy” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $29.00.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors have recently modified their holdings of the business. USA Financial Formulas acquired a new stake in shares of Heritage Insurance during the 2nd quarter valued at about $25,000. Nisa Investment Advisors LLC boosted its position in Heritage Insurance by 2,413.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 1,062 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Heritage Insurance by 77.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,035 shares of the insurance provider’s stock valued at $76,000 after buying an additional 1,323 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Heritage Insurance by 8,472.2% during the 1st quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider’s stock valued at $450,000 after buying an additional 3,050 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in shares of Heritage Insurance by 252.3% during the 2nd quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock valued at $81,000 after buying an additional 2,334 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors and hedge funds.

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.