Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 10,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 10,000 shares of Heritage Insurance stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $34.88, for a total value of $348,800.00. Following the completion of the transaction, the chief executive officer owned 1,040,955 shares in the company, valued at approximately $36,308,510.40. This represents a 0.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Heritage Insurance Stock Up 0.7%

HRTG stock opened at $34.45 on Thursday. The firm has a 50-day moving average price of $29.09 and a 200-day moving average price of $26.75. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.02 billion, a P/E ratio of 4.91 and a beta of 0.89.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.80. The company had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. As a group, equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of HRTG. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Heritage Insurance in the second quarter valued at $960,000. California State Teachers Retirement System boosted its holdings in Heritage Insurance by 3,509.9% in the second quarter. California State Teachers Retirement System now owns 841,549 shares of the insurance provider’s stock valued at $21,948,000 after acquiring an additional 818,237 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Heritage Insurance during the 2nd quarter valued at $272,000. Empowered Funds LLC purchased a new position in Heritage Insurance during the 2nd quarter valued at $4,230,000. Finally, Public Employees Retirement System of Ohio bought a new position in Heritage Insurance in the 2nd quarter worth $917,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heritage Insurance in a report on Friday, August 7th. Piper Sandler increased their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $36.50.

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.