Key Points
- CEO Ernie Garateix sold 5,000 shares on Nov. 12 at an average of $30.39 for $151,950, trimming his stake by 0.41% to 1,214,140 shares valued at about $36.9 million, per an SEC filing.
- Shares traded near $30.82 (down ~0.1%) with a market cap of $952.5 million, a P/E of 6.36, and a 52-week range of $9.89 to $31.10, while volume was below its average.
- Heritage reported a strong quarter with EPS of $1.63 versus a $0.53 consensus and revenue of $212.46 million, and analysts hold a consensus Buy rating with a $32.50 price target.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 5,000 shares of Heritage Insurance stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $30.39, for a total value of $151,950.00. Following the completion of the transaction, the chief executive officer directly owned 1,214,140 shares in the company, valued at $36,897,714.60. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Heritage Insurance Trading Down 0.1%
NYSE HRTG traded down $0.03 during mid-day trading on Friday, hitting $30.82. The company's stock had a trading volume of 132,783 shares, compared to its average volume of 399,756. The firm has a market capitalization of $952.49 million, a P/E ratio of 6.36 and a beta of 0.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.82. Heritage Insurance Holdings, Inc. has a 52-week low of $9.89 and a 52-week high of $31.10. The stock's fifty day simple moving average is $25.11 and its two-hundred day simple moving average is $23.42.
Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $1.10. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. The company had revenue of $212.46 million during the quarter, compared to analyst estimates of $210.12 million. Research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock valued at $196,000 after buying an additional 546 shares during the last quarter. USA Financial Formulas bought a new position in shares of Heritage Insurance in the second quarter worth $25,000. Financial Management Professionals Inc. bought a new stake in shares of Heritage Insurance during the third quarter valued at about $26,000. Nisa Investment Advisors LLC increased its stake in 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 buying an additional 1,062 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Heritage Insurance by 77.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,035 shares of the insurance provider's stock worth $76,000 after acquiring an additional 1,323 shares during the period. 59.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
HRTG has been the subject of several recent research reports. Wall Street Zen downgraded shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Truist Financial upped their target price on Heritage Insurance from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, November 7th. Weiss Ratings upgraded shares of Heritage Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Saturday, October 25th. Finally, Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $32.50.
Read Our Latest Stock Analysis on HRTG
About Heritage Insurance
(
Get Free Report)
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.
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