Heritage Insurance (NYSE:HRTG) Insider Timothy Moura Sells 29,133 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Moura sold 29,133 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $26.63, for a total value of $775,811.79. Following the completion of the transaction, the insider directly owned 210,535 shares of the company’s stock, valued at approximately $5,606,547.05. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Heritage Insurance Trading Up 4.3%

Shares of Heritage Insurance stock opened at $26.76 on Tuesday. The firm has a market capitalization of $822.13 million, a PE ratio of 4.23 and a beta of 0.95. 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 company’s fifty day moving average price is $26.32 and its two-hundred day moving average price is $26.53. Heritage Insurance Holdings, Inc. has a 52-week low of $13.27 and a 52-week high of $31.98.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.54. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. The company had revenue of $215.32 million during the quarter, compared to the consensus estimate of $212.60 million. On average, analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial raised their price target on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Weiss Ratings restated a “buy (b)” rating on shares of Heritage Insurance in a research report on Monday, December 29th. Finally, Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. One 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 company. According to data from MarketBeat, Heritage Insurance currently has a consensus rating of “Buy” and a consensus 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 company. Caitong International Asset Management Co. Ltd boosted its position in Heritage Insurance by 3,774.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider’s stock valued at $85,000 after buying an additional 2,831 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of Heritage Insurance during the fourth quarter worth approximately $31,000. Invesco Ltd. raised its stake in shares of Heritage Insurance by 49.7% in the fourth quarter. Invesco Ltd. now owns 77,421 shares of the insurance provider’s stock valued at $2,265,000 after acquiring an additional 25,711 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Heritage Insurance in the 4th quarter worth approximately $230,000. Finally, Empowered Funds LLC boosted its holdings in shares of Heritage Insurance by 6.3% in the 4th quarter. Empowered Funds LLC now owns 152,254 shares of the insurance provider’s stock worth $4,455,000 after acquiring an additional 9,090 shares in the last quarter. 59.03% of the stock is owned by institutional investors.

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.