Key Points
- Insider sale: Timothy Johns sold 3,500 Heritage Insurance shares for approximately $117,880 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 12.09% to 25,438 shares.
- Strong quarterly results: Heritage reported quarterly EPS of $2.05, beating estimates of $1.25, while revenue reached $214.19 million versus expectations of $212.71 million.
- Positive analyst sentiment: The stock has an overall “Buy” rating, with an average price target of $36.50; Truist Financial recently raised its target to $42.00.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) insider Timothy Johns sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $33.68, for a total transaction of $117,880.00. Following the transaction, the insider directly owned 25,438 shares in the company, valued at approximately $856,751.84. This trade represents a 12.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Heritage Insurance Stock Performance
Heritage Insurance stock opened at $33.92 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $1.01 billion, a PE ratio of 4.83 and a beta of 0.89. The company has a 50 day moving average price of $28.39 and a 200-day moving average price of $26.58. Heritage Insurance Holdings, Inc. has a fifty-two week low of $20.48 and a fifty-two week high of $36.50.
Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.80. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The company had revenue of $214.19 million for the quarter, compared to analysts' expectations of $212.71 million. As a group, equities analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on HRTG shares. Truist Financial increased their price target on Heritage Insurance from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Heritage Insurance in a report on Friday, August 7th. Piper Sandler upped their price objective on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Zacks Research upgraded shares of Heritage Insurance from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Heritage Insurance from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Heritage Insurance currently has an average rating of "Buy" and an average price target of $36.50.
Check Out Our Latest Analysis on Heritage Insurance
Hedge Funds Weigh In On Heritage Insurance
A number of large investors have recently bought and sold shares of HRTG. Kestra Private Wealth Services LLC lifted its holdings in Heritage Insurance by 1.9% during the first quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider's stock worth $690,000 after buying an additional 489 shares during the period. Royal Bank of Canada increased its holdings in shares of Heritage Insurance by 72.6% in the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock valued at $196,000 after acquiring an additional 546 shares during the period. Graham Capital Management L.P. increased its holdings in shares of Heritage Insurance by 4.2% in the 4th quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider's stock valued at $567,000 after acquiring an additional 789 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Heritage Insurance in the 3rd quarter worth $25,000. Institutional investors own 59.03% of the company's stock.
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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