Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 8,334 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $29.48, for a total transaction of $245,686.32. Following the completion of the sale, the chief executive officer directly owned 1,136,838 shares of the company’s stock, valued at approximately $33,513,984.24. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Heritage Insurance Stock Performance

NYSE:HRTG opened at $29.54 on Tuesday. The firm’s 50-day moving average is $27.62 and its 200-day moving average is $24.67. The company has a market cap of $913.21 million, a price-to-earnings ratio of 6.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82. Heritage Insurance Holdings, Inc. has a 52-week low of $9.89 and a 52-week high of $31.98.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share 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 during the quarter, compared to analysts’ expectations of $210.12 million. Equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial boosted their price objective on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings upgraded shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note 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 company. According to data from MarketBeat.com, Heritage Insurance currently has an average rating of “Buy” and an average target price of $32.50.

Institutional Trading of Heritage Insurance

Several institutional investors have recently bought and sold shares of HRTG. Vanguard Group Inc. lifted its holdings in shares of Heritage Insurance by 8.7% during the third quarter. Vanguard Group Inc. now owns 1,646,731 shares of the insurance provider’s stock valued at $41,465,000 after acquiring an additional 132,271 shares during the period. Marshall Wace LLP increased its position in shares of Heritage Insurance by 8.7% during the 3rd quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock worth $25,793,000 after purchasing an additional 82,190 shares in the last quarter. American Century Companies Inc. increased its position in shares of Heritage Insurance by 11.5% during the 3rd quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock worth $22,371,000 after purchasing an additional 91,847 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in 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 valued at $16,180,000 after purchasing an additional 163,142 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Heritage Insurance by 69.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock valued at $13,128,000 after buying an additional 216,019 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Company Profile

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.