Timothy Moura Sells 25,721 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Moura sold 25,721 shares of Heritage Insurance stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $25.79, for a total value of $663,344.59. Following the sale, the insider owned 184,814 shares of the company’s stock, valued at approximately $4,766,353.06. This represents a 12.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Timothy Moura also recently made the following trade(s):

• On Thursday, April 2nd, Timothy Moura sold 24,769 shares of Heritage Insurance stock. The stock was sold at an average price of $25.76, for a total value of $638,049.44.
• On Thursday, March 19th, Timothy Moura sold 29,133 shares of Heritage Insurance stock. The shares were sold at an average price of $26.63, for a total transaction of $775,811.79.

Heritage Insurance Stock Up 0.1%

NYSE HRTG traded up $0.02 during trading on Friday, reaching $26.21. The company’s stock had a trading volume of 394,252 shares, compared to its average volume of 318,629. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $805.23 million, a PE ratio of 4.15 and a beta of 0.95. Heritage Insurance Holdings, Inc. has a 1-year low of $13.27 and a 1-year high of $31.98. The business has a 50-day moving average price of $26.36 and a 200-day moving average price of $26.63.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on HRTG shares. Citigroup reaffirmed a “market perform” rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Truist Financial upped their price target on shares of Heritage Insurance from $37.00 to $39.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Heritage Insurance in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Heritage Insurance has a consensus rating of “Buy” and an average target price of $33.50.

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its position in shares of Heritage Insurance by 58.9% during the 2nd 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of 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 worth $11,635,000 after buying an additional 319,434 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Heritage Insurance by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock worth $55,039,000 after buying an additional 234,296 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position 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 buying an additional 216,019 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Heritage Insurance by 1,078.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock worth $3,514,000 after buying an additional 128,927 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.