Heritage Insurance (NYSE:HRTG) Stock: Insider Timothy Johns Sells 3,500 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Johns sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $35.91, for a total transaction of $125,685.00. Following the completion of the transaction, the insider owned 18,438 shares of the company’s stock, valued at $662,108.58. This trade represents a 15.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Stock Up 1.5%

Shares of HRTG stock opened at $37.63 on Friday. Heritage Insurance Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $37.87. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $34.51 and a 200-day moving average of $29.12. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 5.36 and a beta of 0.92.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.25 by $0.80. The business had revenue of $214.19 million for the quarter, compared to analysts’ expectations of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. As a group, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 5.33 earnings per share for the current fiscal year.

Institutional Trading of Heritage Insurance

A number of institutional investors have recently made changes to their positions in HRTG. Optiver Holding B.V. boosted its holdings in Heritage Insurance by 510.0% during the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 1,173 shares during the last quarter. Pinnacle Holdings LLC bought a new position in Heritage Insurance in the second quarter valued at $48,000. Caitong International Asset Management Co. Ltd grew its position in Heritage Insurance by 3,774.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 2,831 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Heritage Insurance in the 2nd quarter valued at $92,000. Finally, Nisa Investment Advisors LLC increased its stake in Heritage Insurance by 170.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,393 shares of the insurance provider’s stock valued at $212,000 after buying an additional 4,025 shares during the last quarter. Institutional investors own 59.03% of the company’s stock.

Wall Street Analysts Forecast Growth

HRTG has been the topic of several recent research reports. Truist Financial lifted their price target on Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Raymond James Financial assumed coverage on Heritage Insurance in a research report on Friday, October 16th. They set a “market perform” rating for the company. Wall Street Zen upgraded Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Piper Sandler increased their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Zacks Research lowered Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc (NYSE:HRTG) is a property and casualty insurance company focused primarily on residential insurance. Through its insurance subsidiaries, the company provides coverage for homeowners, condominium owners, renters and other residential property owners, including protection against risks such as wind, fire and other covered losses.

Heritage distributes its products through independent agents and other insurance distribution channels. Its business has historically been concentrated in catastrophe-exposed coastal markets, particularly Florida, and has also included operations in additional states across the southeastern United States.