Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 5,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $30.39, for a total value of $151,950.00. Following the sale, the chief executive officer directly owned 1,214,140 shares of the company’s stock, valued at approximately $36,897,714.60. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Insurance Stock Performance

Shares of NYSE:HRTG traded down $0.03 during trading on Friday, reaching $30.82. The company had a trading volume of 132,783 shares, compared to its average volume of 399,756. Heritage Insurance Holdings, Inc. has a fifty-two week low of $9.89 and a fifty-two week high of $31.10. 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 stock’s fifty day moving average price is $25.11 and its 200 day moving average price is $23.42. The firm has a market capitalization of $952.49 million, a price-to-earnings ratio of 6.36 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $1.10. The firm had revenue of $212.46 million for the quarter, compared to analyst estimates of $210.12 million. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. As a group, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRTG. USA Financial Formulas purchased a new position in shares of Heritage Insurance during the second quarter valued at approximately $25,000. Financial Management Professionals Inc. acquired a new stake in Heritage Insurance in the 3rd quarter worth about $26,000. Nisa Investment Advisors LLC increased its stake in shares of Heritage Insurance by 2,413.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 1,062 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Heritage Insurance during the 3rd quarter worth about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Heritage Insurance in the third quarter valued at approximately $66,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HRTG. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Wall Street Zen downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Truist Financial raised their price objective on shares of Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Weiss Ratings upgraded shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, Heritage Insurance presently has an average rating of “Buy” and an average price target of $32.50.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.