Heritage Insurance (NYSE:HRTG) CEO Sells $216,934.02 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $26.03, for a total transaction of $216,934.02. Following the completion of the transaction, the chief executive officer directly owned 1,128,504 shares of the company’s stock, valued at $29,374,959.12. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Heritage Insurance Stock Down 1.6%

NYSE:HRTG opened at $25.49 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. Heritage Insurance Holdings, Inc. has a twelve month low of $9.89 and a twelve month high of $31.98. The company has a market cap of $787.74 million, a PE ratio of 5.28 and a beta of 0.98. The company’s 50 day moving average is $27.96 and its two-hundred day moving average is $25.16.

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

Analyst Upgrades and Downgrades

HRTG has been the topic of a number of research reports. Truist Financial increased their price objective on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a research report on Monday, December 29th. Finally, Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Heritage Insurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Institutional Trading of Heritage Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its holdings in Heritage Insurance by 660.9% in the fourth quarter. State of Alaska Department of Revenue now owns 11,056 shares of the insurance provider’s stock valued at $322,000 after acquiring an additional 9,603 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Heritage Insurance by 339.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,612 shares of the insurance provider’s stock valued at $340,000 after purchasing an additional 8,971 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Heritage Insurance in the 4th quarter valued at $268,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Heritage Insurance by 10.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,025 shares of the insurance provider’s stock worth $323,000 after buying an additional 1,033 shares in the last quarter. Finally, Fragasso Financial Advisors Inc purchased a new stake in Heritage Insurance during the fourth quarter worth $328,000. 59.03% of the stock is owned by institutional investors and hedge funds.

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.