Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 5,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.31, for a total value of $171,550.00. Following the transaction, the chief executive officer owned 1,055,955 shares of the company’s stock, valued at approximately $36,229,816.05. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Heritage Insurance Price Performance

NYSE:HRTG opened at $33.38 on Thursday. The business’s 50-day moving average is $27.94 and its 200 day moving average is $26.48. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50. The company has a market capitalization of $992.39 million, a P/E ratio of 4.75 and a beta of 0.89. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.80. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The business had revenue of $214.19 million during the quarter, compared to analysts’ expectations of $212.71 million. On average, equities research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Heritage Insurance during the 2nd quarter worth $60,842,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Heritage Insurance during the second quarter valued at about $14,437,000. Vanguard Group Inc. raised its position in shares of Heritage Insurance by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after purchasing an additional 234,296 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Heritage Insurance in the 2nd quarter valued at approximately $6,070,000. Finally, Quartz Partners LLC purchased a new stake in Heritage Insurance during the 2nd quarter worth approximately $4,924,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HRTG shares. Piper Sandler raised their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heritage Insurance in a research note on Friday, August 7th. Truist Financial raised their target price on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $36.50.

Heritage Insurance Company Profile

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.