Insider Buying: Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Purchases 5,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of $8.21 per share, for a total transaction of $41,050.00. Following the completion of the transaction, the chief executive officer now directly owns 1,067,584 shares of the company’s stock, valued at approximately $8,764,864.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Heritage Insurance Stock Down 2.1 %

Shares of NYSE:HRTG traded down $0.18 during midday trading on Tuesday, hitting $8.05. 350,463 shares of the company’s stock traded hands, compared to its average volume of 414,006. Heritage Insurance Holdings, Inc. has a twelve month low of $3.66 and a twelve month high of $11.23. The company has a market cap of $246.50 million, a PE ratio of 4.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s fifty day moving average price is $9.23 and its two-hundred day moving average price is $7.64.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.14). The company had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $189.05 million. Heritage Insurance had a return on equity of 25.96% and a net margin of 6.07%. During the same period in the previous year, the company earned $0.55 EPS. On average, equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on HRTG. StockNews.com downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price on shares of Heritage Insurance in a report on Monday, April 1st. JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a research note on Monday, April 15th. Finally, Truist Financial lifted their price objective on Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.00.

Institutional Trading of Heritage Insurance

Large investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC acquired a new position in shares of Heritage Insurance in the third quarter worth about $2,171,000. Acadian Asset Management LLC raised its position in shares of Heritage Insurance by 110.3% in the 3rd quarter. Acadian Asset Management LLC now owns 376,832 shares of the insurance provider’s stock valued at $2,444,000 after purchasing an additional 197,656 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Heritage Insurance during the 3rd quarter valued at approximately $172,000. Ritholtz Wealth Management grew its position in shares of Heritage Insurance by 232.0% during the fourth quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock worth $222,000 after buying an additional 23,826 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Heritage Insurance in the third quarter worth $109,000. Institutional investors and hedge funds 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.