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 dated Wednesday, August 19th. The stock was sold at an average price of $33.68, for a total value of $117,880.00. Following the transaction, the insider directly owned 25,438 shares of the company’s stock, valued at $856,751.84. This represents a 12.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Stock Performance

HRTG opened at $33.92 on Friday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 4.83 and a beta of 0.89. The stock’s 50 day moving average price is $28.39 and its two-hundred day moving average price is $26.58. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. Heritage Insurance Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $36.50.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HRTG. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Truist Financial boosted their price objective on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heritage Insurance in a research report on Friday, August 7th. Piper Sandler increased 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. Finally, Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. One 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $36.50.

Institutional Investors Weigh In On Heritage Insurance

A number of hedge funds have recently made changes to their positions in HRTG. BlackRock Inc. acquired a new position in Heritage Insurance in the second quarter valued at about $60,842,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Heritage Insurance during the second quarter worth approximately $14,437,000. Vanguard Group Inc. raised its stake in shares of Heritage Insurance by 14.2% in the fourth 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 during the last quarter. Bank of America Corp DE bought a new position in shares of Heritage Insurance in the second quarter valued at approximately $6,070,000. Finally, Quartz Partners LLC acquired a new position in shares of Heritage Insurance in the 2nd quarter worth approximately $4,924,000. Institutional investors and hedge funds 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.