Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells $178,790.22 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 6,291 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $28.42, for a total transaction of $178,790.22. Following the sale, the chief executive officer directly owned 1,187,515 shares in the company, valued at $33,749,176.30. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Heritage Insurance Trading Up 1.4%

NYSE:HRTG traded up $0.42 during trading hours on Monday, hitting $29.50. 377,769 shares of the company were exchanged, compared to its average volume of 402,699. The company has a fifty day simple moving average of $26.76 and a 200 day simple moving average of $24.30. Heritage Insurance Holdings, Inc. has a one year low of $9.89 and a one year high of $31.98. The stock has a market capitalization of $911.91 million, a price-to-earnings ratio of 6.11 and a beta of 0.96. 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 (NYSE:HRTG) last issued its quarterly earnings data 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 company had revenue of $212.46 million during the quarter, compared to the consensus estimate of $210.12 million. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%. Sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. USA Financial Formulas bought a new position in shares of Heritage Insurance during the 2nd quarter worth $25,000. Advisory Services Network LLC bought a new position in shares of Heritage Insurance in the 3rd quarter worth $25,000. Financial Management Professionals Inc. purchased a new stake in Heritage Insurance during the third quarter valued at about $26,000. Nisa Investment Advisors LLC boosted 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 in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Heritage Insurance in the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities 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 Thursday, November 6th. Weiss Ratings raised Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $32.50.

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.