Heritage Insurance (NYSE:HRTG) Stock Price Down 7.3% After Insider Selling

Heritage Insurance Holdings, Inc. (NYSE:HRTG)’s share price was down 7.3% during mid-day trading on Friday following insider selling activity. The company traded as low as $26.43 and last traded at $26.2620. Approximately 112,356 shares were traded during trading, a decline of 72% from the average daily volume of 402,347 shares. The stock had previously closed at $28.32.

Specifically, CFO Kirk Lusk sold 8,331 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $28.21, for a total value of $235,017.51. Following the completion of the transaction, the chief financial officer owned 550,425 shares of the company’s stock, valued at approximately $15,527,489.25. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of equities analysts have issued reports on HRTG shares. Truist Financial upped their target price on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings raised shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Wall Street Zen downgraded shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $32.50.

Heritage Insurance Stock Down 7.0%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $814.17 million, a P/E ratio of 5.45 and a beta of 0.96. The stock has a fifty day moving average price of $26.23 and a two-hundred day moving average price of $24.08.

Heritage Insurance (NYSE:HRTG) last announced 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. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%.The firm had revenue of $212.46 million for the quarter, compared to analysts’ expectations of $210.12 million. Research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently modified their holdings of HRTG. USA Financial Formulas bought a new position in Heritage Insurance in the second quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in shares of Heritage Insurance during the 3rd quarter worth approximately $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Heritage Insurance during the 3rd quarter worth approximately $26,000. Nisa Investment Advisors LLC lifted its holdings in shares of Heritage Insurance by 2,413.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 1,062 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Heritage Insurance during the 3rd quarter valued at approximately $36,000. Institutional investors own 59.03% of the company’s stock.

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.