Heritage Insurance (NYSE:HRTG) CFO Kirk Lusk Sells 19,929 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk sold 19,929 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $24.18, for a total value of $481,883.22. Following the completion of the transaction, the chief financial officer directly owned 558,756 shares in the company, valued at approximately $13,510,720.08. This represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Kirk Lusk also recently made the following trade(s):

• On Tuesday, November 4th, Kirk Lusk sold 71 shares of Heritage Insurance stock. The shares were sold at an average price of $24.00, for a total value of $1,704.00.
• On Friday, October 3rd, Kirk Lusk sold 6,803 shares of Heritage Insurance stock. The shares were sold at an average price of $24.16, for a total value of $164,360.48.
• On Wednesday, October 1st, Kirk Lusk sold 13,197 shares of Heritage Insurance stock. The stock was sold at an average price of $24.77, for a total transaction of $326,889.69.
• On Friday, September 12th, Kirk Lusk sold 20,000 shares of Heritage Insurance stock. The stock was sold at an average price of $24.17, for a total transaction of $483,400.00.

Heritage Insurance Price Performance

HRTG traded up $3.06 during midday trading on Thursday, hitting $27.82. The company had a trading volume of 896,581 shares, compared to its average volume of 396,285. Heritage Insurance Holdings, Inc. has a twelve month low of $9.89 and a twelve month high of $29.10. The company has a market capitalization of $862.92 million, a PE ratio of 8.02 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $24.48 and its 200-day simple moving average is $23.05.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.63 EPS for the quarter, beating the consensus estimate of $0.53 by $1.10. The business had revenue of $212.46 million for the quarter, compared to analysts’ expectations of $210.12 million. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. Equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HRTG has been the topic of a number of recent research reports. Wall Street Zen lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Weiss Ratings raised Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Truist Financial lifted their price objective on Heritage Insurance from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Finally, Zacks Research cut Heritage Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.50.

Hedge Funds Weigh In On Heritage Insurance

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its holdings in Heritage Insurance by 58.9% during the second quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider’s stock worth $23,498,000 after buying an additional 349,168 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Heritage Insurance by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 796,605 shares of the insurance provider’s stock valued at $19,867,000 after acquiring an additional 119,791 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Heritage Insurance by 33.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider’s stock valued at $16,180,000 after acquiring an additional 163,142 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake 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 acquiring an additional 216,019 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Heritage Insurance by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 517,803 shares of the insurance provider’s stock worth $12,917,000 after acquiring an additional 8,112 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.