Heritage Insurance (NYSE:HRTG) Insider Sells $117,880.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Johns sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $33.68, for a total value of $117,880.00. Following the sale, the insider owned 25,438 shares of the company’s stock, valued at approximately $856,751.84. This represents a 12.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Trading Up 0.2%

Shares of NYSE:HRTG opened at $33.92 on Monday. Heritage Insurance Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $36.50. The business’s fifty day simple moving average is $28.39 and its 200-day simple moving average is $26.58. The company has a market capitalization of $1.01 billion, a PE ratio of 4.83 and a beta of 0.89. 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 (NYSE:HRTG) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, topping 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 firm had revenue of $214.19 million during the quarter, compared to analysts’ expectations of $212.71 million. As a group, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HRTG. BlackRock Inc. purchased a new position in Heritage Insurance during the 2nd quarter worth approximately $60,842,000. Vanguard Group Inc. boosted its holdings in shares of Heritage Insurance by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after acquiring an additional 234,296 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Heritage Insurance by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider’s stock valued at $32,732,000 after acquiring an additional 36,879 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Heritage Insurance by 8.7% in the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock worth $25,793,000 after acquiring an additional 82,190 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Heritage Insurance by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 665,902 shares of the insurance provider’s stock worth $19,486,000 after acquiring an additional 34,996 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Heritage Insurance

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.