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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.10, for a total value of $87,750.00. Following the sale, the chief executive officer owned 1,038,455 shares of the company’s stock, valued at $36,449,770.50. The trade was a 0.24% 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 Trading Down 1.1%

NYSE:HRTG opened at $34.08 on Thursday. The stock has a market cap of $1.01 billion, a PE ratio of 4.85 and a beta of 0.92. Heritage Insurance Holdings, Inc. has a fifty-two week low of $20.48 and a fifty-two week high of $36.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50-day moving average is $30.89 and its two-hundred day moving average is $27.39.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in shares of Heritage Insurance during the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. bought a new stake in Heritage Insurance in the fourth quarter worth $31,000. Royal Bank of Canada boosted its holdings in Heritage Insurance by 72.6% in the fourth 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 in the last quarter. Optiver Holding B.V. increased its position in Heritage Insurance by 510.0% during the first 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 acquired a new position in Heritage Insurance during the second quarter worth $48,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Ratings Changes

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

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.