Kirk Lusk Sells 6,803 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk sold 6,803 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $24.16, for a total value of $164,360.48. Following the sale, the chief financial officer owned 578,756 shares in the company, valued at approximately $13,982,744.96. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kirk Lusk also recently made the following trade(s):

• On Wednesday, October 1st, Kirk Lusk sold 13,197 shares of Heritage Insurance stock. The stock was sold at an average price of $24.77, for a total value of $326,889.69.
• On Friday, September 12th, Kirk Lusk sold 20,000 shares of Heritage Insurance stock. The stock was sold at an average price of $24.17, for a total value of $483,400.00.

Heritage Insurance Price Performance

NYSE HRTG opened at $25.92 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. Heritage Insurance Holdings, Inc. has a 1 year low of $9.01 and a 1 year high of $29.10. The stock’s 50-day moving average price is $23.32 and its two-hundred day moving average price is $21.72. The company has a market cap of $804.04 million, a PE ratio of 7.47 and a beta of 0.98.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial lifted their target price on Heritage Insurance from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Zacks Research cut Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Heritage Insurance in a research note on Wednesday. Finally, Wall Street Zen cut Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Hedge Funds Weigh In On Heritage Insurance

Hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors acquired a new position in Heritage Insurance in the first quarter worth approximately $1,727,000. AQR Capital Management LLC increased its holdings in Heritage Insurance by 8.6% in the first quarter. AQR Capital Management LLC now owns 509,080 shares of the insurance provider’s stock worth $7,341,000 after buying an additional 40,220 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Heritage Insurance by 8.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 485,631 shares of the insurance provider’s stock worth $7,003,000 after buying an additional 37,763 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Heritage Insurance during the first quarter worth approximately $751,000. Finally, Kingsview Wealth Management LLC bought a new stake in Heritage Insurance during the first quarter worth approximately $228,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.