Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells $171,550.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 5,000 shares of Heritage Insurance stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.31, for a total value of $171,550.00. Following the completion of the transaction, the chief executive officer owned 1,055,955 shares in the company, valued at $36,229,816.05. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Heritage Insurance Stock Performance

NYSE HRTG opened at $33.92 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. Heritage Insurance Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $36.50. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.83 and a beta of 0.89. The business’s 50 day moving average is $28.39 and its two-hundred day moving average is $26.58.

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

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently made changes to their positions in HRTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Heritage Insurance by 4.2% in 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 during the last quarter. Millennium Management LLC grew its position in shares of Heritage Insurance by 39.8% during the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock valued at $4,657,000 after buying an additional 91,982 shares during the last quarter. Empowered Funds LLC raised its stake in Heritage Insurance by 8.4% during the first quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock worth $1,800,000 after acquiring an additional 9,728 shares during the period. Strs Ohio acquired a new stake in Heritage Insurance during the first quarter worth about $127,000. Finally, JPMorgan Chase & Co. lifted its holdings in Heritage Insurance by 1,078.7% in the second quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock worth $3,514,000 after acquiring an additional 128,927 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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