Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 2,500 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 2,500 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $35.25, for a total transaction of $88,125.00. Following the completion of the transaction, the chief executive officer owned 1,035,955 shares of the company’s stock, valued at approximately $36,517,413.75. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Heritage Insurance Trading Up 0.7%

NYSE HRTG opened at $35.03 on Thursday. Heritage Insurance Holdings, Inc. has a 52 week low of $20.48 and a 52 week high of $36.50. The firm has a 50 day moving average of $31.65 and a two-hundred day moving average of $27.69. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.04 billion, a PE ratio of 4.99 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HRTG shares. Weiss Ratings upgraded Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Wall Street Zen upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Piper Sandler lifted their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Truist Financial upped their target price on Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. 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, the company presently has a consensus rating of “Buy” and an average target price of $36.50.

Institutional Trading of Heritage Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Heritage Insurance in the second quarter worth approximately $60,842,000. Dimensional Fund Advisors LP raised its stake in Heritage Insurance by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider’s stock worth $32,732,000 after purchasing an additional 36,879 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Heritage Insurance in the 2nd quarter valued at $14,437,000. Bank of America Corp DE acquired a new stake in shares of Heritage Insurance during the 2nd quarter worth $6,070,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Heritage Insurance by 52.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider’s stock worth $5,740,000 after buying an additional 75,339 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc is a property and casualty insurance company that provides residential property coverage through its insurance subsidiaries. Its products primarily include homeowners insurance and related coverage for personal and commercial residential properties, including protection against risks such as wind, fire and other property damage.

The company focuses on serving customers in catastrophe-exposed coastal markets, particularly in the Southeastern United States.