Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells $348,800.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $34.88, for a total value of $348,800.00. Following the completion of the sale, the chief executive officer directly owned 1,040,955 shares of the company’s stock, valued at approximately $36,308,510.40. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Heritage Insurance Stock Performance

Shares of NYSE HRTG opened at $33.92 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50. The stock has a 50 day moving average of $29.51 and a 200-day moving average of $26.85. The company has a market capitalization of $1.01 billion, a P/E ratio of 4.83 and a beta of 0.89.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The business had revenue of $214.19 million for the quarter, compared to analysts’ expectations of $212.71 million. As a group, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.

Institutional Investors Weigh In On Heritage Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LP acquired a new position in shares of Heritage Insurance in the second quarter valued at about $1,091,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Heritage Insurance in the 2nd quarter worth about $960,000. California State Teachers Retirement System raised its stake in Heritage Insurance by 3,509.9% in the 2nd quarter. California State Teachers Retirement System now owns 841,549 shares of the insurance provider’s stock worth $21,948,000 after purchasing an additional 818,237 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Heritage Insurance in the 2nd quarter valued at about $272,000. Finally, Empowered Funds LLC bought a new stake in Heritage Insurance in the 2nd quarter valued at about $4,230,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analysts Set New Price Targets

HRTG has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Heritage Insurance in a research report on Friday, August 7th. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Truist Financial increased their price target on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Piper Sandler boosted their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $36.50.

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.