Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 2,500 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 2,500 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $35.25, for a total transaction of $88,125.00. Following the sale, the chief executive officer owned 1,035,955 shares in the company, valued at approximately $36,517,413.75. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Heritage Insurance Stock Performance

NYSE HRTG traded up $0.25 during trading hours on Wednesday, reaching $35.03. The company’s stock had a trading volume of 192,399 shares, compared to its average volume of 357,185. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $31.49 and a 200 day simple moving average of $27.64. Heritage Insurance Holdings, Inc. has a 52 week low of $20.48 and a 52 week high of $36.50. The stock has a market cap of $1.04 billion, a PE ratio of 4.99 and a beta of 0.92.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.25 by $0.80. The company had revenue of $214.19 million during the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. Equities research analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. 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 raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Piper Sandler upped their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Finally, Wall Street Zen upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.50.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. boosted its position in Heritage Insurance by 510.0% during the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 1,173 shares during the period. Pinnacle Holdings LLC acquired a new position in shares of Heritage Insurance during the second quarter valued at $48,000. Harbour Investments Inc. acquired a new position in shares of Heritage Insurance during the fourth quarter valued at $50,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Heritage Insurance by 3,774.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 2,831 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Heritage Insurance during the second quarter valued at about $92,000. 59.03% of the stock is owned by institutional investors.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc is a property and casualty insurance company that provides residential property coverage through its insurance subsidiaries. Its products primarily include homeowners insurance and related coverage for personal and commercial residential properties, including protection against risks such as wind, fire and other property damage.

The company focuses on serving customers in catastrophe-exposed coastal markets, particularly in the Southeastern United States.