Ernie Garateix Sells 8,334 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $25.39, for a total value of $211,600.26. Following the transaction, the chief executive officer owned 1,069,289 shares in the company, valued at $27,149,247.71. This trade represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Heritage Insurance Price Performance

Heritage Insurance stock opened at $26.62 on Wednesday. The stock has a market capitalization of $817.89 million, a P/E ratio of 4.21 and a beta of 0.95. The company’s fifty day moving average price is $26.34 and its 200 day moving average price is $26.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. Heritage Insurance Holdings, Inc. has a 1 year low of $13.27 and a 1 year high of $31.98.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.54. The company had revenue of $215.32 million during the quarter, compared to analysts’ expectations of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. As a group, equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Truist Financial boosted their price objective on Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Citigroup reissued a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Heritage Insurance in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $33.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HRTG. Royal Bank of Canada boosted its holdings in shares of Heritage Insurance by 72.6% during the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 497 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Heritage Insurance by 0.3% in the third quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock valued at $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 during the last quarter. Graham Capital Management L.P. lifted its position in Heritage Insurance by 4.2% during the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock worth $567,000 after buying an additional 789 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Heritage Insurance during the third quarter worth $25,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

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.