Heritage Insurance (NYSE:HRTG) Stock Price Down 4.9% on Insider Selling

Heritage Insurance Holdings, Inc. (NYSE:HRTG) shares fell 4.9% on Wednesday following insider selling activity. The company traded as low as $22.77 and last traded at $22.64. 68,704 shares changed hands during trading, a decline of 81% from the average session volume of 361,124 shares. The stock had previously closed at $23.81.

Specifically, CAO Sharon Binnun sold 21,000 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $24.47, for a total value of $513,870.00. Following the transaction, the chief accounting officer owned 176,006 shares of the company’s stock, valued at $4,306,866.82. This represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

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

Heritage Insurance Price Performance

The company has a fifty day moving average of $21.99 and a 200-day moving average of $19.95. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The stock has a market cap of $683.40 million, a PE ratio of 6.35 and a beta of 1.05.

Heritage Insurance (NYSE:HRTG) last issued its quarterly 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. 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 the consensus estimate of $212.12 million. Sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Several large investors have recently bought and sold shares of HRTG. Marshall Wace LLP boosted its position in shares of Heritage Insurance by 58.9% during the 2nd quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider’s stock worth $23,498,000 after acquiring an additional 349,168 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Heritage Insurance by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 796,605 shares of the insurance provider’s stock worth $19,867,000 after acquiring an additional 119,791 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Heritage Insurance by 33.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider’s stock worth $16,180,000 after acquiring an additional 163,142 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Heritage Insurance during the 4th quarter worth about $7,799,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Heritage Insurance by 69.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock worth $13,128,000 after acquiring an additional 216,019 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

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.