Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells 8,334 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $24.12, for a total transaction of $201,016.08. Following the completion of the transaction, the chief executive officer owned 1,120,170 shares of the company’s stock, valued at $27,018,500.40. This trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Heritage Insurance Stock Up 18.2%

Heritage Insurance stock traded up $4.27 during midday trading on Tuesday, hitting $27.73. 703,092 shares of the stock were exchanged, compared to its average volume of 322,108. Heritage Insurance Holdings, Inc. has a 1 year low of $9.89 and a 1 year high of $31.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $857.10 million, a P/E ratio of 5.74 and a beta of 0.96. The company has a 50 day moving average price of $26.72 and a two-hundred day moving average price of $25.86.

Analyst Ratings Changes

A number of research analysts recently commented on HRTG shares. Truist Financial increased their price target on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday, December 29th. Finally, Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Heritage Insurance by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after acquiring an additional 234,296 shares in the last quarter. Marshall Wace LLP grew its holdings in Heritage Insurance by 8.7% during the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock valued at $25,793,000 after purchasing an additional 82,190 shares during the last quarter. American Century Companies Inc. raised its holdings in Heritage Insurance by 11.5% in the 3rd quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock worth $22,371,000 after acquiring an additional 91,847 shares during the period. Geode Capital Management LLC boosted its stake in Heritage Insurance by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 665,902 shares of the insurance provider’s stock valued at $19,486,000 after purchasing an additional 34,996 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Heritage Insurance by 33.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider’s stock valued at $16,180,000 after acquiring an additional 163,142 shares during the period. Institutional investors 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.