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 firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $25.39, for a total transaction of $211,600.26. Following the completion of the transaction, the chief executive officer owned 1,069,289 shares of the company’s stock, valued at approximately $27,149,247.71. This trade represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Heritage Insurance Trading Up 4.3%

HRTG opened at $26.76 on Tuesday. Heritage Insurance Holdings, Inc. has a fifty-two week low of $13.27 and a fifty-two week high of $31.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $822.13 million, a price-to-earnings ratio of 4.23 and a beta of 0.95. The company’s 50 day moving average price is $26.32 and its two-hundred day moving average price is $26.53.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.54. The firm had revenue of $215.32 million during the quarter, compared to the consensus estimate of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. As a group, research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday, December 29th. Truist Financial raised their price objective on Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $33.50.

Hedge Funds Weigh In On Heritage Insurance

Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Heritage Insurance by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock worth $196,000 after buying an additional 546 shares in the last quarter. Millennium Management LLC increased its stake in shares of Heritage Insurance by 39.8% in the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock valued at $4,657,000 after acquiring an additional 91,982 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Heritage Insurance by 8.4% in the 1st quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock valued at $1,800,000 after acquiring an additional 9,728 shares in the last quarter. Strs Ohio acquired a new position in shares of Heritage Insurance during the 1st quarter valued at $127,000. Finally, Geode Capital Management LLC lifted its position in shares of Heritage Insurance by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 517,803 shares of the insurance provider’s stock valued at $12,917,000 after acquiring an additional 8,112 shares during the period. 59.03% of the stock is owned by institutional investors and hedge funds.

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.