Ernie Garateix Sells 5,000 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.31, for a total value of $171,550.00. Following the completion of the sale, the chief executive officer owned 1,055,955 shares of the company’s stock, valued at $36,229,816.05. This represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Heritage Insurance Stock Performance

HRTG opened at $33.53 on Friday. The stock has a market cap of $996.85 million, a PE ratio of 4.78 and a beta of 0.89. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. Heritage Insurance Holdings, Inc. has a 1 year low of $20.48 and a 1 year high of $36.50. The stock’s 50 day simple moving average is $28.16 and its 200-day simple moving average is $26.53.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The business had revenue of $214.19 million during the quarter, compared to analyst estimates of $212.71 million. Sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.

Wall Street Analysts Forecast Growth

HRTG has been the subject of a number of analyst reports. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Truist Financial increased their price target on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Piper Sandler raised their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heritage Insurance in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One research 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, the company presently has a consensus rating of “Buy” and an average price target of $36.50.

Institutional Trading of Heritage Insurance

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Heritage Insurance by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock worth $55,039,000 after acquiring an additional 234,296 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Heritage Insurance by 52.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider’s stock valued at $5,740,000 after acquiring an additional 75,339 shares during the last quarter. Denali Advisors LLC acquired a new stake in Heritage Insurance in the fourth quarter worth about $2,490,000. Y Intercept Hong Kong Ltd acquired a new stake in Heritage Insurance in the first quarter worth about $2,212,000. Finally, Inspire Investing LLC bought a new stake in Heritage Insurance during the 1st quarter worth about $1,547,000. Institutional investors 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.