Heritage Insurance (NYSE:HRTG) Insider Timothy Moura Sells 15,104 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Moura sold 15,104 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $32.49, for a total value of $490,728.96. Following the sale, the insider directly owned 144,941 shares of the company’s stock, valued at $4,709,133.09. This represents a 9.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Heritage Insurance Stock Up 2.5%

HRTG stock opened at $32.97 on Thursday. Heritage Insurance Holdings, Inc. has a twelve month low of $20.48 and a twelve month high of $36.50. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $26.75 and its 200-day moving average is $26.20. The firm has a market capitalization of $980.20 million, a PE ratio of 4.70 and a beta of 0.89.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.80. Heritage Insurance had a return on equity of 44.15% and a net margin of 25.19%.The company had revenue of $214.19 million for the quarter, compared to analysts’ expectations of $212.71 million. Sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 4.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heritage Insurance in a report on Friday, August 7th. Truist Financial increased their target price on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler boosted their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Zacks Research raised shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Institutional Trading of Heritage Insurance

A number of hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC bought a new position in Heritage Insurance in the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Heritage Insurance during the 4th quarter worth $31,000. Royal Bank of Canada raised its stake in shares of Heritage Insurance by 72.6% during the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 497 shares during the period. Optiver Holding B.V. boosted its holdings in shares of Heritage Insurance by 510.0% in the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after buying an additional 1,173 shares during the last quarter. Finally, Pinnacle Holdings LLC purchased a new position in shares of Heritage Insurance in the 2nd quarter worth about $48,000. 59.03% of the stock is currently owned by institutional investors.

About Heritage Insurance

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.