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 company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $24.12, for a total value of $201,016.08. Following the transaction, the chief executive officer directly owned 1,120,170 shares in the company, valued at approximately $27,018,500.40. This represents a 0.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Heritage Insurance Stock Down 1.5%

NYSE HRTG opened at $27.24 on Thursday. The stock has a fifty day moving average of $26.67 and a 200-day moving average of $25.87. The stock has a market capitalization of $841.96 million, a P/E ratio of 5.64 and a beta of 0.96. Heritage Insurance Holdings, Inc. has a 52 week low of $9.89 and a 52 week high of $31.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Zacks Research cut Heritage Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday, December 29th. Finally, Truist Financial boosted their price target on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after acquiring an additional 546 shares during the period. Millennium Management LLC increased its stake in Heritage Insurance by 39.8% in the first quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock valued at $4,657,000 after purchasing an additional 91,982 shares in the last quarter. Empowered Funds LLC raised its holdings in Heritage Insurance by 8.4% in the first quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock worth $1,800,000 after purchasing an additional 9,728 shares during the period. Strs Ohio bought a new position in shares of Heritage Insurance during the first quarter worth $127,000. Finally, AlphaQuest LLC grew its holdings in shares of Heritage Insurance by 252.3% in the 2nd quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock valued at $81,000 after buying an additional 2,334 shares during the period. 59.03% of the stock is currently 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.