Ernie Garateix Sells 10,000 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 10,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $34.88, for a total value of $348,800.00. Following the transaction, the chief executive officer owned 1,040,955 shares of the company’s stock, valued at $36,308,510.40. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Heritage Insurance Stock Down 1.1%

Shares of NYSE:HRTG opened at $34.02 on Friday. The company’s fifty day moving average is $29.30 and its 200-day moving average is $26.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83. Heritage Insurance Holdings, Inc. has a 52 week low of $20.48 and a 52 week high of $36.50. The company has a market capitalization of $1.01 billion, a PE ratio of 4.85 and a beta of 0.89.

Heritage Insurance (NYSE:HRTG) last announced its 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. 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 during the quarter, compared to analysts’ expectations of $212.71 million. 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

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their target price 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 upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Wall Street Zen raised Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heritage Insurance in a research report on Friday, August 7th. Finally, Truist Financial boosted their price objective on Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment 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. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $36.50.

Institutional Trading of Heritage Insurance

Several hedge funds have recently modified their holdings of HRTG. BlackRock Inc. bought a new position in Heritage Insurance in the 2nd quarter worth approximately $60,842,000. Vanguard Group Inc. boosted its position in Heritage Insurance by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after buying an additional 234,296 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Heritage Insurance by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider’s stock valued at $32,732,000 after buying an additional 36,879 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Heritage Insurance by 8.7% in the 3rd quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock valued at $25,793,000 after buying an additional 82,190 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Heritage Insurance by 3,509.9% in the 2nd quarter. California State Teachers Retirement System now owns 841,549 shares of the insurance provider’s stock valued at $21,948,000 after buying an additional 818,237 shares during the period. 59.03% of the stock is owned by institutional investors.

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.