Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 2,500 shares of the company's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.10, for a total transaction of $87,750.00. Following the transaction, the chief executive officer owned 1,038,455 shares in the company, valued at approximately $36,449,770.50. This trade represents a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Heritage Insurance Stock Up 1.3%
Shares of NYSE:HRTG opened at $34.40 on Wednesday. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50. The company's 50-day moving average price is $30.75 and its two-hundred day moving average price is $27.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.02 billion, a P/E ratio of 4.90 and a beta of 0.92.
Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its earnings results 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. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. The company had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. As a group, research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms recently weighed in on HRTG. Weiss Ratings restated a "buy (b-)" rating on shares of Heritage Insurance in a research report on Friday, August 7th. Truist Financial lifted their target price on Heritage Insurance from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Zacks Research raised Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Finally, Piper Sandler lifted their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 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.com, the company presently has an average rating of "Buy" and a consensus price target of $36.50.
Read Our Latest Stock Report on Heritage Insurance
Institutional Trading of Heritage Insurance
A number of institutional investors have recently bought and sold shares of HRTG. Advisory Services Network LLC acquired a new position in shares of Heritage Insurance in the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. bought a new position in shares of Heritage Insurance in the 4th quarter worth $31,000. Royal Bank of Canada grew its stake in shares of Heritage Insurance by 72.6% during 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 during the period. Optiver Holding B.V. grew its stake in shares of Heritage Insurance by 510.0% during the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider's stock worth $37,000 after purchasing an additional 1,173 shares during the period. Finally, Pinnacle Holdings LLC bought a new stake in Heritage Insurance in the second quarter valued at about $48,000. Institutional investors and hedge funds 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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