Key Points
- CEO Ernie Garateix sold 2,500 Heritage Insurance shares at $35.25 each, generating $88,125; he retains approximately 1.04 million shares.
- Heritage Insurance reported quarterly EPS of $2.05, exceeding the $1.25 consensus estimate, while revenue of $214.19 million slightly topped expectations.
- Analysts are broadly bullish, with the stock carrying a consensus “Buy” rating and a $36.50 price target; Truist raised its target to $42.00.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 2,500 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $35.25, for a total transaction of $88,125.00. Following the sale, the chief executive officer owned 1,035,955 shares of the company's stock, valued at approximately $36,517,413.75. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Heritage Insurance Stock Up 0.7%
Shares of NYSE HRTG opened at $35.03 on Thursday. The stock has a fifty day moving average price of $31.65 and a 200 day moving average price of $27.69. 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 Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $36.50. The company has a market cap of $1.04 billion, a P/E ratio of 4.99 and a beta of 0.92.
Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.80. The company had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. Research analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on HRTG shares. Zacks Research raised shares of Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Heritage Insurance from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 8th. Truist Financial raised 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. Piper Sandler increased their price target on Heritage Insurance from $27.00 to $31.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. One equities research 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. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $36.50.
Get Our Latest Stock Analysis on HRTG
Institutional Investors Weigh In On Heritage Insurance
A number of institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. raised its position in shares of Heritage Insurance by 510.0% during the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 1,173 shares in the last quarter. Pinnacle Holdings LLC acquired a new position in Heritage Insurance in the second quarter worth $48,000. Harbour Investments Inc. bought a new stake in Heritage Insurance during the fourth quarter valued at $50,000. Caitong International Asset Management Co. Ltd increased its stake in Heritage Insurance by 3,774.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider's stock valued at $85,000 after purchasing an additional 2,831 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Heritage Insurance during the second quarter worth $92,000. 59.03% of the stock is currently owned by institutional investors.
About Heritage Insurance
(
Get Free Report)
Heritage Insurance Holdings, Inc is a property and casualty insurance company that provides residential property coverage through its insurance subsidiaries. Its products primarily include homeowners insurance and related coverage for personal and commercial residential properties, including protection against risks such as wind, fire and other property damage.
The company focuses on serving customers in catastrophe-exposed coastal markets, particularly in the Southeastern United States.
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