Key Points
- CEO Ernie Garateix sold 8,334 shares on April 20 at an average price of $27.56 for about $229,685, executed under a pre-arranged Rule 10b5-1 plan and reducing his stake by 0.78% to ~1,060,955 shares (≈$29.24M).
- Heritage beat quarterly expectations with EPS $2.15 vs. $1.61 expected and revenue of $215.3M, showing strong profitability (net margin 23.1%, ROE 47.3%) while trading at a low P/E of 4.26.
- Analysts are generally positive — the consensus rating is Buy with a $33.50 price target — and institutional investors own about 59% of the company.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 8,334 shares of the business's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $27.56, for a total transaction of $229,685.04. Following the transaction, the chief executive officer directly owned 1,060,955 shares of the company's stock, valued at approximately $29,239,919.80. This represents a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Heritage Insurance Stock Down 1.5%
Heritage Insurance stock opened at $26.91 on Wednesday. The firm has a fifty day moving average price of $26.56 and a two-hundred day moving average price of $26.81. The firm has a market cap of $826.80 million, a price-to-earnings ratio of 4.26 and a beta of 0.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. Heritage Insurance Holdings, Inc. has a fifty-two week low of $16.83 and a fifty-two week high of $31.98.
Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.54. The business had revenue of $215.32 million during the quarter, compared to analyst estimates of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. As a group, analysts forecast that Heritage Insurance Holdings, Inc. will post 4.7 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC raised its position in Heritage Insurance by 1.9% in the first quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider's stock worth $690,000 after purchasing an additional 489 shares in the last quarter. Royal Bank of Canada raised its position in Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider's stock worth $35,000 after purchasing an additional 497 shares in the last quarter. Tudor Investment Corp ET AL raised its position in Heritage Insurance by 0.3% in the third quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider's stock worth $4,693,000 after purchasing an additional 503 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $196,000 after purchasing an additional 546 shares in the last quarter. Finally, Graham Capital Management L.P. raised its position in Heritage Insurance by 4.2% in the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider's stock worth $567,000 after purchasing an additional 789 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Citigroup reaffirmed a "market perform" rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Truist Financial upped their price objective on shares of Heritage Insurance from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Monday, March 9th. Zacks Research raised shares of Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Heritage Insurance in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Heritage Insurance currently has an average rating of "Buy" and a consensus price target of $33.50.
Get Our Latest Stock Analysis on Heritage Insurance
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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