Ernie Garateix Sells 8,334 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $29.48, for a total transaction of $245,686.32. Following the transaction, the chief executive officer directly owned 1,136,838 shares of the company’s stock, valued at approximately $33,513,984.24. This trade represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Insurance Price Performance

Shares of HRTG opened at $29.26 on Wednesday. The business’s 50-day moving average is $27.75 and its two-hundred day moving average is $24.72. The company has a market capitalization of $904.43 million, a P/E ratio of 6.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82. Heritage Insurance Holdings, Inc. has a fifty-two week low of $9.89 and a fifty-two week high of $31.98.

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

Institutional Investors Weigh In On Heritage Insurance

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in shares of Heritage Insurance by 58.9% during the second quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider’s stock valued at $23,498,000 after acquiring an additional 349,168 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Heritage Insurance by 223.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 462,075 shares of the insurance provider’s stock valued at $11,635,000 after purchasing an additional 319,434 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Heritage Insurance by 290.8% in the 2nd quarter. Prudential Financial Inc. now owns 383,582 shares of the insurance provider’s stock valued at $9,567,000 after purchasing an additional 285,425 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Heritage Insurance by 69.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock worth $13,128,000 after purchasing an additional 216,019 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Heritage Insurance by 33.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider’s stock worth $16,180,000 after buying an additional 163,142 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HRTG. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday. Truist Financial lifted their price objective on shares of Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.50.

About Heritage Insurance

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.