Heritage Insurance (NYSE:HRTG) Chairman Richard Widdicombe Sells 50,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Chairman Richard Widdicombe sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $29.40, for a total transaction of $1,470,000.00. Following the transaction, the chairman directly owned 449,047 shares in the company, valued at $13,201,981.80. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Heritage Insurance Price Performance

Shares of NYSE:HRTG opened at $26.10 on Friday. Heritage Insurance Holdings, Inc. has a one year low of $9.89 and a one year high of $31.98. The stock has a market capitalization of $806.65 million, a price-to-earnings ratio of 5.40 and a beta of 0.95. The company has a 50-day simple moving average of $25.65 and a 200-day simple moving average of $23.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (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, analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Institutional Investors Weigh In On Heritage Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the business. USA Financial Formulas acquired a new position in shares of Heritage Insurance during the 2nd quarter worth $25,000. Advisory Services Network LLC purchased a new stake in Heritage Insurance during the third quarter worth about $25,000. Financial Management Professionals Inc. acquired a new position in Heritage Insurance during the third quarter worth about $26,000. Nisa Investment Advisors LLC grew 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 buying an additional 1,062 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in Heritage Insurance in the third quarter valued at about $36,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Upgrades and Downgrades

HRTG has been the topic of a number of recent research reports. Weiss Ratings raised Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Wall Street Zen cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Truist Financial raised their target price on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average 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.