Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 8,334 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $27.56, for a total transaction of $229,685.04. Following the transaction, the chief executive officer owned 1,060,955 shares in the company, valued at approximately $29,239,919.80. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Trading Down 1.5%

Heritage Insurance stock opened at $26.91 on Wednesday. The company’s fifty day simple moving average is $26.56 and its 200-day simple moving average is $26.81. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. Heritage Insurance Holdings, Inc. has a 12 month low of $16.83 and a 12 month high of $31.98. The stock has a market cap of $826.80 million, a P/E ratio of 4.26 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.54. The firm had revenue of $215.32 million during the quarter, compared to analysts’ expectations of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. As a group, sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post 4.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HRTG has been the subject of a number of recent research reports. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a report on Friday, March 27th. Truist Financial upped their price objective on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $33.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in Heritage Insurance during the 3rd quarter worth $984,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Heritage Insurance by 514.4% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 76,798 shares of the insurance provider’s stock worth $1,934,000 after acquiring an additional 64,298 shares during the last quarter. Principal Financial Group Inc. lifted its position in Heritage Insurance by 201.7% during the 3rd quarter. Principal Financial Group Inc. now owns 64,490 shares of the insurance provider’s stock worth $1,624,000 after acquiring an additional 43,113 shares during the last quarter. Instrumental Wealth LLC lifted its position in Heritage Insurance by 116.1% during the 3rd quarter. Instrumental Wealth LLC now owns 60,060 shares of the insurance provider’s stock worth $1,401,000 after acquiring an additional 32,269 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its position in Heritage Insurance by 27.2% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 458,929 shares of the insurance provider’s stock worth $11,556,000 after acquiring an additional 98,246 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Company Profile

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.