Ernie Garateix Sells 7,000 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $28.36, for a total value of $198,520.00. Following the sale, the chief executive officer owned 1,193,806 shares in the company, valued at approximately $33,856,338.16. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Heritage Insurance Stock Up 5.1%

Heritage Insurance stock traded up $1.40 during midday trading on Thursday, hitting $28.85. 287,824 shares of the company were exchanged, compared to its average volume of 403,297. The company has a market cap of $891.75 million, a PE ratio of 5.97 and a beta of 0.96. Heritage Insurance Holdings, Inc. has a fifty-two week low of $9.89 and a fifty-two week high of $31.98. The company’s fifty day moving average price is $26.57 and its 200-day moving average price is $24.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.82.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $1.10. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. The company had revenue of $212.46 million for the quarter, compared to analyst estimates of $210.12 million. On average, research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on HRTG shares. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Truist Financial lifted their target price on Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Weiss Ratings upgraded Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, Heritage Insurance presently has an average rating of “Buy” and an average target price of $32.50.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently modified their holdings of HRTG. AQR Capital Management LLC increased its holdings in Heritage Insurance by 8.6% in the first quarter. AQR Capital Management LLC now owns 509,080 shares of the insurance provider’s stock valued at $7,341,000 after buying an additional 40,220 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Heritage Insurance by 69.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock worth $13,128,000 after acquiring an additional 216,019 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Heritage Insurance in the 1st quarter worth approximately $751,000. Nuveen LLC bought a new stake in shares of Heritage Insurance in the 1st quarter valued at approximately $1,495,000. Finally, Prudential Financial Inc. raised its position in shares of Heritage Insurance by 290.8% during the 2nd quarter. Prudential Financial Inc. now owns 383,582 shares of the insurance provider’s stock valued at $9,567,000 after acquiring an additional 285,425 shares in the last quarter. 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.