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 stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $30.39, for a total value of $151,950.00. Following the transaction, the chief executive officer owned 1,214,140 shares of the company’s stock, valued at $36,897,714.60. The trade was a 0.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Heritage Insurance Price Performance

NYSE HRTG opened at $31.14 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.18. The company has a market cap of $962.57 million, a PE ratio of 6.45 and a beta of 0.95. Heritage Insurance Holdings, Inc. has a 52 week low of $9.89 and a 52 week high of $31.63. The firm’s 50-day simple moving average is $25.25 and its two-hundred day simple moving average is $23.51.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $1.10. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. The firm had revenue of $212.46 million during the quarter, compared to the consensus estimate of $210.12 million. Research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Weiss Ratings raised shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, Truist Financial boosted their target price on Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $32.50.

Hedge Funds Weigh In On Heritage Insurance

A number of large investors have recently added to or reduced their stakes in HRTG. USA Financial Formulas purchased a new stake in shares of Heritage Insurance during the 2nd quarter valued at about $25,000. Financial Management Professionals Inc. purchased a new position in Heritage Insurance in the 3rd quarter worth approximately $26,000. Nisa Investment Advisors LLC grew its position in shares of Heritage Insurance by 2,413.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 1,062 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Heritage Insurance during the 3rd quarter valued at approximately $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Heritage Insurance in the 3rd quarter valued at about $66,000. Hedge funds and other institutional investors 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.