Ernie Garateix Sells 6,291 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 6,291 shares of Heritage Insurance stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $28.42, for a total value of $178,790.22. Following the sale, the chief executive officer directly owned 1,187,515 shares of the company’s stock, valued at approximately $33,749,176.30. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Heritage Insurance Stock Performance

Shares of NYSE HRTG opened at $29.10 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $899.54 million, a price-to-earnings ratio of 6.03 and a beta of 0.96. The stock’s fifty day moving average price is $26.83 and its two-hundred day moving average price is $24.33. Heritage Insurance Holdings, Inc. has a one year low of $9.89 and a one year high of $31.98.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.63 EPS for the quarter, beating the consensus estimate of $0.53 by $1.10. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. The business had revenue of $212.46 million for the quarter, compared to the consensus estimate of $210.12 million. On average, equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on HRTG. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Truist Financial lifted their price objective on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings raised Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $32.50.

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds have recently modified their holdings of HRTG. Tudor Investment Corp ET AL increased its holdings in Heritage Insurance by 0.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock worth $4,693,000 after purchasing an additional 503 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 546 shares during the last quarter. USA Financial Formulas bought a new position in shares of Heritage Insurance during the 2nd quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in Heritage Insurance in the third quarter worth $25,000. Finally, Financial Management Professionals Inc. purchased a new stake in Heritage Insurance in the 3rd quarter worth about $26,000. Institutional investors and hedge funds 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.