Key Points
- Heritage Insurance CFO Kirk Lusk sold 10,000 shares at an average price of $34.16, totaling $341,600. He continues to own 492,522 shares after the sale.
- Heritage reported quarterly EPS of $2.05, beating analyst expectations of $1.25, while revenue of $214.19 million slightly exceeded estimates.
- Analyst sentiment is broadly positive: the stock carries a consensus “Buy” rating with a $36.50 price target, while institutional investors own approximately 59.03% of outstanding shares.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CFO Kirk Lusk sold 10,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.16, for a total transaction of $341,600.00. Following the completion of the sale, the chief financial officer directly owned 492,522 shares in the company, valued at approximately $16,824,551.52. This represents a 1.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Heritage Insurance Price Performance
HRTG stock opened at $33.38 on Thursday. The stock has a market cap of $992.39 million, a PE ratio of 4.75 and a beta of 0.89. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50. The company has a 50-day moving average price of $27.94 and a 200 day moving average price of $26.48. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13.
Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.80. The company had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. Equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current year.
Institutional Investors Weigh In On Heritage Insurance
Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Heritage Insurance by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider's stock worth $55,039,000 after buying an additional 234,296 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Heritage Insurance by 52.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider's stock valued at $5,740,000 after acquiring an additional 75,339 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Heritage Insurance in the fourth quarter valued at about $2,490,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Heritage Insurance in the first quarter valued at about $2,212,000. Finally, Inspire Investing LLC purchased a new stake in Heritage Insurance in the first quarter worth about $1,547,000. 59.03% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on HRTG shares. Zacks Research raised Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Heritage Insurance in a research note on Friday, August 7th. Wall Street Zen upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Truist Financial boosted their target price on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Piper Sandler upped their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Heritage Insurance has a consensus rating of "Buy" and a consensus price target of $36.50.
Get Our Latest Stock Report 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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