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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $26.03, for a total value of $216,934.02. Following the transaction, the chief executive officer directly owned 1,128,504 shares of the company’s stock, valued at $29,374,959.12. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Heritage Insurance Stock Down 1.6%

Shares of Heritage Insurance stock opened at $25.49 on Friday. The firm has a market cap of $787.74 million, a PE ratio of 5.28 and a beta of 0.98. The business’s 50 day simple moving average is $27.96 and its 200 day simple moving average is $25.15. 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 quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $1.10. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%.The firm had revenue of $212.46 million during the quarter, compared to the consensus estimate of $210.12 million. On average, analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. USA Financial Formulas bought a new stake in Heritage Insurance in the second quarter valued at approximately $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. bought a new stake in Heritage Insurance in the 3rd quarter valued at $26,000. Nisa Investment Advisors LLC lifted its holdings in Heritage Insurance by 2,413.6% during the 2nd 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 Heritage Insurance during the 3rd quarter valued at $36,000. Institutional investors own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HRTG. Weiss Ratings restated a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday, December 29th. Zacks Research cut Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Truist Financial boosted their price target on Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

About Heritage Insurance

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.