Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Buys $41,050.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix purchased 5,000 shares of Heritage Insurance stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of $8.21 per share, for a total transaction of $41,050.00. Following the purchase, the chief executive officer now directly owns 1,067,584 shares in the company, valued at $8,764,864.64. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Heritage Insurance Price Performance

Shares of HRTG stock opened at $8.60 on Friday. The company has a market cap of $263.47 million, a P/E ratio of 5.24 and a beta of 0.92. The stock’s 50-day moving average is $9.30 and its 200 day moving average is $7.67. Heritage Insurance Holdings, Inc. has a 1-year low of $3.73 and a 1-year high of $11.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Wednesday, May 1st. The insurance provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.14). The firm had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. During the same period in the previous year, the company earned $0.55 EPS. Research analysts predict that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC purchased a new stake in Heritage Insurance during the 3rd quarter worth approximately $2,171,000. Acadian Asset Management LLC lifted its position in Heritage Insurance by 110.3% during the 3rd quarter. Acadian Asset Management LLC now owns 376,832 shares of the insurance provider’s stock worth $2,444,000 after acquiring an additional 197,656 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Heritage Insurance during the 3rd quarter valued at about $172,000. Ritholtz Wealth Management increased its holdings in shares of Heritage Insurance by 232.0% in the fourth quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 23,826 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Heritage Insurance in the third quarter worth about $109,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on HRTG shares. Truist Financial increased their price objective on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Piper Sandler restated a “neutral” rating and issued a $9.00 price objective on shares of Heritage Insurance in a report on Monday, April 1st. StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Friday. Finally, JMP Securities reissued a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Heritage Insurance Company Profile

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.