Key Points
- Insider sale: Timothy Moura sold 29,133 shares on March 19 at an average price of $26.63 for $775,811.79, reducing his stake by 12.16% to 210,535 shares (≈$5.61M).
- Earnings beat and analyst sentiment: Heritage reported Q1 EPS of $2.15 vs. $1.61 expected and revenue of $215.32M, with ROE 47.28% and a net margin of 23.08%; analysts have a consensus Buy rating and an average price target of $33.50.
- Stock and ownership snapshot: HRTG opened at $26.76, trades in a 52-week range of $13.27–$31.98, has a market cap of $822.13M and a PE of 4.23, and is ~59% held by institutional investors.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 8,334 shares of the company's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $25.39, for a total transaction of $211,600.26. Following the transaction, the chief executive officer owned 1,069,289 shares in the company, valued at $27,149,247.71. This represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Heritage Insurance Stock Performance
Shares of HRTG opened at $26.76 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50-day moving average of $26.32 and a 200-day moving average of $26.53. The company has a market cap of $822.13 million, a PE ratio of 4.23 and a beta of 0.95. Heritage Insurance Holdings, Inc. has a one year low of $13.27 and a one year high of $31.98.
Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings results on Monday, March 9th. The insurance provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.54. The business had revenue of $215.32 million for the quarter, compared to the consensus estimate of $212.60 million. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%. On average, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.
Analyst Ratings Changes
HRTG has been the topic of a number of recent research reports. Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 11th. Truist Financial upped their price objective on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Heritage Insurance in a research note on Monday, December 29th. Finally, Citigroup reissued a "market perform" rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $33.50.
View Our Latest Stock Report on Heritage Insurance
Institutional Investors Weigh In On Heritage Insurance
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its position in Heritage Insurance by 3,774.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider's stock valued at $85,000 after buying an additional 2,831 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new position in Heritage Insurance during the 4th quarter worth $31,000. Invesco Ltd. grew its stake in shares of Heritage Insurance by 49.7% in the 4th quarter. Invesco Ltd. now owns 77,421 shares of the insurance provider's stock worth $2,265,000 after acquiring an additional 25,711 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Heritage Insurance in the 4th quarter worth $230,000. Finally, Empowered Funds LLC raised its holdings in shares of Heritage Insurance by 6.3% in the fourth quarter. Empowered Funds LLC now owns 152,254 shares of the insurance provider's stock valued at $4,455,000 after purchasing an additional 9,090 shares during the last quarter. 59.03% of the stock is owned by hedge funds and other institutional investors.
About Heritage Insurance
(
Get Free Report)
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.
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