Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells $49,304.65 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 1,709 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $28.85, for a total value of $49,304.65. Following the sale, the chief executive officer owned 1,185,806 shares in the company, valued at $34,210,503.10. This trade represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Heritage Insurance Stock Performance

Shares of HRTG stock opened at $29.39 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. Heritage Insurance Holdings, Inc. has a 12-month low of $9.89 and a 12-month high of $31.98. The business’s 50 day moving average is $26.90 and its two-hundred day moving average is $24.37. The company has a market capitalization of $908.29 million, a P/E ratio of 6.08 and a beta of 0.96.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $1.10. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%.The business had revenue of $212.46 million during the quarter, compared to the consensus estimate of $210.12 million. Analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Heritage Insurance

Hedge funds and other institutional investors have recently modified their holdings of the business. USA Financial Formulas purchased a new stake in Heritage Insurance during the 2nd quarter valued at about $25,000. Advisory Services Network LLC acquired a new position in shares of Heritage Insurance during the 3rd quarter worth approximately $25,000. Financial Management Professionals Inc. purchased a new stake in shares of Heritage Insurance in the third quarter valued at approximately $26,000. Nisa Investment Advisors LLC increased its holdings in shares of Heritage Insurance by 2,413.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 1,062 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Heritage Insurance in the third quarter valued at approximately $36,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HRTG has been the topic of several recent analyst reports. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Truist Financial lifted their price objective on Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings upgraded Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $32.50.

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.