Ernie Garateix Sells 1,709 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 1,709 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $28.85, for a total transaction of $49,304.65. Following the completion of the transaction, the chief executive officer directly owned 1,185,806 shares of the company’s stock, valued at $34,210,503.10. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Heritage Insurance Stock Performance

HRTG stock traded up $0.42 during trading on Monday, reaching $29.50. The company had a trading volume of 377,769 shares, compared to its average volume of 402,699. The company has a market cap of $911.91 million, a price-to-earnings ratio of 6.11 and a beta of 0.96. Heritage Insurance Holdings, Inc. has a twelve month low of $9.89 and a twelve month 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. The firm has a 50-day simple moving average of $26.76 and a 200-day simple moving average of $24.30.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $1.10. The company had revenue of $212.46 million during the quarter, compared to analyst estimates of $210.12 million. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%. As a group, sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Institutional Trading of Heritage Insurance

Institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas acquired a new position in shares of Heritage Insurance during the 2nd quarter worth about $25,000. Advisory Services Network LLC purchased a new stake in Heritage Insurance during the 3rd quarter worth approximately $25,000. Financial Management Professionals Inc. acquired a new position in shares of Heritage Insurance during the third quarter valued at approximately $26,000. Nisa Investment Advisors LLC boosted its stake in Heritage Insurance by 2,413.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 1,062 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Heritage Insurance in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings upgraded Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.50.

About Heritage Insurance

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.