Timothy Johns Sells 3,500 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Johns sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $34.74, for a total value of $121,590.00. Following the transaction, the insider directly owned 21,938 shares in the company, valued at $762,126.12. This trade represents a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Stock Down 1.7%

NYSE:HRTG traded down $0.58 during trading hours on Tuesday, hitting $33.57. The stock had a trading volume of 238,314 shares, compared to its average volume of 358,682. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. Heritage Insurance Holdings, Inc. has a 1-year low of $20.48 and a 1-year high of $36.50. The business has a 50 day simple moving average of $32.06 and a two-hundred day simple moving average of $27.83. The company has a market cap of $997.98 million, a PE ratio of 4.78 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, topping analysts’ consensus estimates of $1.25 by $0.80. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. The business had revenue of $214.19 million for the quarter, compared to analysts’ expectations of $212.71 million. Analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings raised Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Piper Sandler increased their price objective on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Finally, Truist Financial boosted their target price on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Heritage Insurance has an average rating of “Buy” and an average price target of $36.50.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. increased 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 acquiring an additional 1,173 shares during the period. Harbour Investments Inc. acquired a new stake in shares of Heritage Insurance in the fourth quarter valued at approximately $50,000. Pinnacle Holdings LLC acquired a new stake in shares of Heritage Insurance in the second quarter valued at approximately $48,000. Caitong International Asset Management Co. Ltd raised its holdings 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 buying an additional 2,831 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Heritage Insurance during the second quarter valued at approximately $92,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.