Ernie Garateix Sells 1,709 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 1,709 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $28.85, for a total value of $49,304.65. Following the sale, the chief executive officer directly owned 1,185,806 shares in the company, valued at $34,210,503.10. This represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Heritage Insurance Stock Up 1.4%

Shares of NYSE:HRTG traded up $0.42 during trading hours on Monday, reaching $29.50. The stock had a trading volume of 377,769 shares, compared to its average volume of 402,699. The stock has a market capitalization of $911.91 million, a price-to-earnings ratio of 6.11 and a beta of 0.96. The firm’s 50 day moving average is $26.76 and its 200-day moving average is $24.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82. Heritage Insurance Holdings, Inc. has a 1 year low of $9.89 and a 1 year high of $31.98.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data 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 business 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 fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HRTG. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Truist Financial upped their price target on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Weiss Ratings upgraded shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.50.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently made changes to their positions in the business. USA Financial Formulas acquired a new position in Heritage Insurance during the second quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in shares of Heritage Insurance in the third quarter valued at approximately $25,000. Financial Management Professionals Inc. purchased a new position in shares of Heritage Insurance during the 3rd quarter worth approximately $26,000. Nisa Investment Advisors LLC raised its position in shares of Heritage Insurance by 2,413.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 1,062 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Heritage Insurance in the 3rd quarter valued at approximately $36,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Insurance Company Profile

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.