Key Points
- Ernie Garateix, Heritage's CEO, sold 1,709 shares on Dec. 12 at an average price of $28.85 for about $49,305, but still directly owns 1,185,806 shares — a 0.14% reduction valued at roughly $34.21M.
- Heritage posted strong quarterly results on Nov. 5 with EPS of $1.63 vs. $0.53 expected and $212.46M in revenue, and the company shows high profitability (ROE 41.44%, net margin 17.72%) with a PE of 6.11 and a market cap near $912M.
- Analyst and institutional sentiment is positive: the consensus rating is Buy (target $32.50) after upgrades from Zacks, Truist and Weiss, and institutional investors hold about 59% of the shares with several funds increasing stakes.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 1,709 shares of Heritage Insurance stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $28.85, for a total transaction of $49,304.65. Following the transaction, the chief executive officer directly owned 1,185,806 shares in the company, valued at $34,210,503.10. The trade was a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Heritage Insurance Trading Up 1.4%
HRTG opened at $29.50 on Tuesday. The firm's fifty day moving average is $26.76 and its two-hundred day moving average is $24.30. The firm has a market cap of $911.88 million, a PE ratio of 6.11 and a beta of 0.96. Heritage Insurance Holdings, Inc. has a twelve month low of $9.89 and a twelve month high of $31.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82.
Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $1.10. The business had revenue of $212.46 million during the quarter, compared to analyst estimates of $210.12 million. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%. Equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.
Institutional Investors Weigh In On Heritage Insurance
Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Heritage Insurance by 8.6% in the first quarter. AQR Capital Management LLC now owns 509,080 shares of the insurance provider's stock valued at $7,341,000 after purchasing an additional 40,220 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Heritage Insurance by 69.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider's stock valued at $13,128,000 after buying an additional 216,019 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Heritage Insurance in the 1st quarter valued at about $751,000. Nuveen LLC acquired a new stake in Heritage Insurance during the first quarter worth approximately $1,495,000. Finally, American Century Companies Inc. boosted its holdings in shares of Heritage Insurance by 14.7% during the first quarter. American Century Companies Inc. now owns 676,814 shares of the insurance provider's stock worth $9,760,000 after acquiring an additional 86,915 shares during the period. 59.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on HRTG shares. Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 6th. Truist Financial lifted 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. Finally, Weiss Ratings raised shares of Heritage Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $32.50.
Get Our Latest Stock Report 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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