Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 1,709 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 1,709 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $28.85, for a total value of $49,304.65. Following the completion of the transaction, the chief executive officer owned 1,185,806 shares in the company, valued at $34,210,503.10. This represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Heritage Insurance Trading Up 1.4%

Shares of NYSE:HRTG opened at $29.50 on Tuesday. Heritage Insurance Holdings, Inc. has a 1 year low of $9.89 and a 1 year high of $31.98. The firm has a fifty day moving average price of $26.76 and a 200 day moving average price of $24.30. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $911.88 million, a PE ratio of 6.11 and a beta of 0.96.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $1.10. The business had revenue of $212.46 million during the quarter, compared to the consensus estimate of $210.12 million. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. Analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HRTG. Weiss Ratings raised Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Truist Financial raised their price objective on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $32.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HRTG. Tudor Investment Corp ET AL grew its holdings in shares of Heritage Insurance by 0.3% during the third quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock worth $4,693,000 after purchasing an additional 503 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 purchasing an additional 546 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Heritage Insurance during the second quarter worth $25,000. Advisory Services Network LLC acquired a new position in Heritage Insurance during the 3rd quarter valued at about $25,000. Finally, Financial Management Professionals Inc. bought a new position in Heritage Insurance in the third quarter valued at approximately $26,000. 59.03% of the stock is owned by institutional investors and hedge funds.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.