Heritage Insurance (NYSE:HRTG) Insider Timothy Johns Sells 3,500 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Johns sold 3,500 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $35.91, for a total transaction of $125,685.00. Following the sale, the insider directly owned 18,438 shares in the company, valued at approximately $662,108.58. This trade represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Price Performance

Shares of NYSE:HRTG opened at $37.03 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.10 billion, a PE ratio of 5.27 and a beta of 0.92. Heritage Insurance Holdings, Inc. has a twelve month low of $20.48 and a twelve month high of $37.36. The company has a 50-day moving average price of $34.42 and a two-hundred day moving average price of $29.04.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.80. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. The firm had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. Equities analysts forecast that Heritage Insurance Holdings, Inc. will post 5.33 EPS for the current year.

Analysts Set New Price Targets

HRTG has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Truist Financial increased their target price on Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research lowered Heritage Insurance from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Piper Sandler lifted their price target on Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.50.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors and hedge funds have recently modified their holdings of HRTG. BlackRock Inc. purchased a new position in Heritage Insurance during the second quarter valued at approximately $60,842,000. Dimensional Fund Advisors LP boosted its holdings in Heritage Insurance by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider’s stock valued at $32,732,000 after purchasing an additional 36,879 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Heritage Insurance in the 2nd quarter valued at $14,437,000. Assenagon Asset Management S.A. boosted its holdings in Heritage Insurance by 7.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 282,917 shares of the insurance provider’s stock valued at $9,379,000 after purchasing an additional 19,596 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Heritage Insurance during the 2nd quarter valued at $6,070,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc (NYSE:HRTG) is a property and casualty insurance company focused primarily on residential insurance. Through its insurance subsidiaries, the company provides coverage for homeowners, condominium owners, renters and other residential property owners, including protection against risks such as wind, fire and other covered losses.

Heritage distributes its products through independent agents and other insurance distribution channels. Its business has historically been concentrated in catastrophe-exposed coastal markets, particularly Florida, and has also included operations in additional states across the southeastern United States.