Timothy Moura Sells 25,721 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Moura sold 25,721 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $25.79, for a total value of $663,344.59. Following the transaction, the insider directly owned 184,814 shares of the company’s stock, valued at approximately $4,766,353.06. This represents a 12.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Timothy Moura also recently made the following trade(s):

• On Thursday, April 2nd, Timothy Moura sold 24,769 shares of Heritage Insurance stock. The stock was sold at an average price of $25.76, for a total value of $638,049.44.
• On Thursday, March 19th, Timothy Moura sold 29,133 shares of Heritage Insurance stock. The stock was sold at an average price of $26.63, for a total value of $775,811.79.

Heritage Insurance Stock Performance

Shares of HRTG opened at $26.21 on Friday. The company has a market capitalization of $805.23 million, a price-to-earnings ratio of 4.15 and a beta of 0.95. Heritage Insurance Holdings, Inc. has a 52-week low of $13.27 and a 52-week high of $31.98. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $26.38 and a 200 day moving average price of $26.66.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share 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 for the quarter, compared to analysts’ expectations of $212.60 million. Research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HRTG. Caitong International Asset Management Co. Ltd boosted its holdings in Heritage Insurance by 3,774.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 2,831 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in shares of Heritage Insurance during the 4th quarter worth approximately $31,000. Invesco Ltd. lifted its holdings in shares of Heritage Insurance by 49.7% in the 4th quarter. Invesco Ltd. now owns 77,421 shares of the insurance provider’s stock valued at $2,265,000 after buying an additional 25,711 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Heritage Insurance in the 4th quarter valued at approximately $230,000. Finally, Empowered Funds LLC boosted its stake in shares of Heritage Insurance by 6.3% in the fourth quarter. Empowered Funds LLC now owns 152,254 shares of the insurance provider’s stock valued at $4,455,000 after buying an additional 9,090 shares in the last quarter. 59.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HRTG shares. Truist Financial upped their price objective on shares of Heritage Insurance from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a report on Friday, March 27th. Citigroup reissued a “market perform” rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Finally, Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Heritage Insurance currently has a consensus rating of “Buy” and an average target price of $33.50.

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.