Key Points
- CEO Ernie Garateix sold 10,000 Heritage Insurance shares at an average price of $34.88, generating $348,800. He retained 1,040,955 shares, so the sale reduced his position by 0.95%.
- Heritage reported quarterly earnings of $2.05 per share, beating estimates of $1.25, while revenue of $214.19 million slightly exceeded forecasts.
- Analyst sentiment is broadly positive, with the stock carrying an average “Buy” rating and a $36.50 price target; shares opened at $34.45 and have traded between $20.48 and $36.50 over the past year.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $34.88, for a total value of $348,800.00. Following the transaction, the chief executive officer owned 1,040,955 shares in the company, valued at $36,308,510.40. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Heritage Insurance Stock Up 0.7%
Shares of NYSE:HRTG opened at $34.45 on Thursday. The firm has a market capitalization of $1.02 billion, a P/E ratio of 4.91 and a beta of 0.89. 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 stock has a 50 day moving average price of $29.09 and a 200-day moving average price of $26.75. Heritage Insurance Holdings, Inc. has a 52-week low of $20.48 and a 52-week high of $36.50.
Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 42.41% and a net margin of 25.19%. As a group, equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Zacks Research raised shares of Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Heritage Insurance from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Truist Financial raised 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, Weiss Ratings restated a "buy (b-)" rating on shares of Heritage Insurance in a research note on Friday, August 7th. One research 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $36.50.
Read Our Latest Research Report on HRTG
Institutional Trading of Heritage Insurance
Several institutional investors and hedge funds have recently modified their holdings of HRTG. Advisory Services Network LLC bought a new position in shares of Heritage Insurance during the 3rd quarter valued at about $25,000. Mcguire Capital Advisors Inc. bought a new position in Heritage Insurance during the fourth quarter valued at $31,000. Royal Bank of Canada raised its stake in shares of Heritage Insurance by 72.6% in the fourth 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. Optiver Holding B.V. lifted its holdings in shares of Heritage Insurance by 510.0% in the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider's stock worth $37,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Pinnacle Holdings LLC purchased a new position in shares of Heritage Insurance during the 2nd quarter worth about $48,000. 59.03% of the stock is currently owned by institutional investors.
Heritage Insurance Company Profile
(
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.
Further Reading
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