Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells $178,790.22 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 6,291 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $28.42, for a total transaction of $178,790.22. Following the transaction, the chief executive officer owned 1,187,515 shares in the company, valued at $33,749,176.30. This represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Heritage Insurance Stock Performance

Heritage Insurance stock traded up $0.42 during midday trading on Monday, reaching $29.50. 377,769 shares of the company’s stock were exchanged, compared to its average volume of 402,699. The stock’s 50-day simple moving average is $26.76 and its 200 day simple moving average is $24.30. Heritage Insurance Holdings, Inc. has a 52 week low of $9.89 and a 52 week high of $31.98. The firm has a market cap of $911.91 million, a price-to-earnings ratio of 6.11 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 (NYSE:HRTG) last issued its quarterly earnings data 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 company had revenue of $212.46 million for the quarter, compared to analyst estimates of $210.12 million. On average, analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HRTG shares. Weiss Ratings raised Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Truist Financial boosted their price objective on shares of Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 7th. One 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, the stock currently has an average rating of “Buy” and an average target price of $32.50.

Institutional Trading of Heritage Insurance

Several large investors have recently made changes to their positions in HRTG. Tudor Investment Corp ET AL raised its position in Heritage Insurance by 0.3% during the third quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock valued at $4,693,000 after purchasing an additional 503 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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. USA Financial Formulas bought a new stake in shares of Heritage Insurance during the 2nd quarter worth $25,000. Advisory Services Network LLC acquired a new stake in Heritage Insurance in the third quarter valued at about $25,000. Finally, Financial Management Professionals Inc. bought a new position in Heritage Insurance in the third quarter valued at about $26,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.