Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells $211,600.26 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $25.39, for a total value of $211,600.26. Following the completion of the transaction, the chief executive officer directly owned 1,069,289 shares in the company, valued at approximately $27,149,247.71. This trade represents a 0.77% 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 Performance

Shares of HRTG stock opened at $26.42 on Thursday. The company has a market cap of $811.50 million, a price-to-earnings ratio of 4.18 and a beta of 0.95. Heritage Insurance Holdings, Inc. has a 52 week low of $13.27 and a 52 week high of $31.98. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $26.35 and a 200-day moving average of $26.55.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.54. The company had revenue of $215.32 million for the quarter, compared to the consensus estimate of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. On average, equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HRTG shares. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Citigroup restated a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday, December 29th. Finally, Truist Financial increased their price target on Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Marshall Wace LLP raised its holdings in shares of Heritage Insurance by 58.9% in the 2nd quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider’s stock worth $23,498,000 after acquiring an additional 349,168 shares during the last quarter. Assenagon Asset Management S.A. lifted its position 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 acquiring an additional 319,434 shares in the last quarter. Prudential Financial Inc. boosted its stake in 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 purchasing an additional 285,425 shares during the last quarter. Vanguard Group Inc. increased its holdings in Heritage Insurance by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock worth $55,039,000 after purchasing an additional 234,296 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings 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 in the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.