Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells 8,334 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $26.03, for a total value of $216,934.02. Following the completion of the sale, the chief executive officer owned 1,128,504 shares in the company, valued at approximately $29,374,959.12. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Heritage Insurance Stock Down 0.2%

Shares of NYSE:HRTG traded down $0.04 during mid-day trading on Thursday, reaching $25.89. 228,337 shares of the stock were exchanged, compared to its average volume of 351,003. The stock’s 50 day simple moving average is $28.08 and its 200-day simple moving average is $25.13. Heritage Insurance Holdings, Inc. has a one year low of $9.89 and a one year high of $31.98. The company has a market cap of $800.26 million, a P/E ratio of 5.36 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.18.

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

Analysts Set New Price Targets

HRTG has been the topic of several recent research reports. Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Truist Financial raised their price objective on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Heritage Insurance currently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Heritage Insurance by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,646,731 shares of the insurance provider’s stock valued at $41,465,000 after purchasing an additional 132,271 shares during the last quarter. Marshall Wace LLP raised its stake in Heritage Insurance by 8.7% in the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock valued at $25,793,000 after buying an additional 82,190 shares during the period. American Century Companies Inc. lifted its position in shares of Heritage Insurance by 11.5% in the third quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock valued at $22,371,000 after buying an additional 91,847 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Heritage Insurance by 33.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider’s stock valued at $16,180,000 after buying an additional 163,142 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 acquiring an additional 216,019 shares during the period. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Heritage Insurance Company Profile

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.