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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 2,500 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.10, for a total transaction of $87,750.00. Following the transaction, the chief executive officer directly owned 1,038,455 shares in the company, valued at $36,449,770.50. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Heritage Insurance Price Performance

Shares of Heritage Insurance stock opened at $34.40 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.83 and a quick ratio of 0.83. Heritage Insurance Holdings, Inc. has a fifty-two week low of $20.48 and a fifty-two week high of $36.50. The firm has a fifty day moving average price of $30.75 and a two-hundred day moving average price of $27.32. The company has a market cap of $1.02 billion, a PE ratio of 4.90 and a beta of 0.92.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.80. The company had revenue of $214.19 million for 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%. Analysts expect that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.

Institutional Trading of Heritage Insurance

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after acquiring an additional 546 shares during the last quarter. Millennium Management LLC grew its position in Heritage Insurance by 39.8% during the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock worth $4,657,000 after acquiring an additional 91,982 shares during the last quarter. Empowered Funds LLC grew its position in Heritage Insurance by 8.4% during the 1st 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 last quarter. Strs Ohio acquired a new stake in Heritage Insurance during the 1st quarter valued at $127,000. Finally, JPMorgan Chase & Co. increased its holdings in Heritage Insurance by 1,078.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock valued at $3,514,000 after purchasing an additional 128,927 shares in the last quarter. 59.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on HRTG. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Piper Sandler boosted their price objective on Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Wall Street Zen upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heritage Insurance in a research report on Friday, August 7th. Finally, Truist Financial lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Heritage Insurance presently has a consensus rating of “Buy” and a consensus 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.