Key Points
- Heritage Insurance insider Timothy Johns sold 3,500 shares at an average price of $34.74, totaling $121,590. The sale reduced his position by 13.76% and was executed under a pre-arranged Rule 10b5-1 trading plan.
- Heritage reported quarterly EPS of $2.05, beating estimates of $1.25, while revenue reached $214.19 million. The stock opened at $33.57, with a market capitalization of approximately $998 million.
- Analyst sentiment remains positive, with an overall “Buy” rating and a consensus price target of $36.50; institutional investors own 59.03% of the company.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) insider Timothy Johns sold 3,500 shares of the business's stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $34.74, for a total transaction of $121,590.00. Following the transaction, the insider owned 21,938 shares of the company's stock, valued at $762,126.12. This trade represents a 13.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Heritage Insurance Trading Down 1.7%
Shares of NYSE:HRTG opened at $33.57 on Wednesday. Heritage Insurance Holdings, Inc. has a 52 week low of $20.48 and a 52 week high of $36.50. The company's 50 day moving average is $32.18 and its two-hundred day moving average is $27.87. The company has a market cap of $997.98 million, a PE ratio of 4.78 and a beta of 0.92. 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 earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, beating 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 firm had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Equities analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Heritage Insurance
Several hedge funds have recently made changes to their positions in HRTG. BlackRock Inc. purchased a new stake in shares of Heritage Insurance during the second quarter worth approximately $60,842,000. Dimensional Fund Advisors LP grew its position in Heritage Insurance by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider's stock valued at $32,732,000 after buying an additional 36,879 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Heritage Insurance in the 2nd quarter valued at $14,437,000. Bank of America Corp DE purchased a new position in Heritage Insurance during the 2nd quarter worth $6,070,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Heritage Insurance by 52.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider's stock worth $5,740,000 after buying an additional 75,339 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.
Wall Street Analysts Forecast Growth
HRTG has been the topic of several recent analyst reports. Truist Financial increased their price target 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. Zacks Research upgraded shares of Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Heritage Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings raised Heritage Insurance from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, September 8th. Finally, Piper Sandler lifted their target price 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 given a Hold rating to the company. According to MarketBeat, Heritage Insurance currently has an average rating of "Buy" and a consensus price target of $36.50.
View Our Latest Report on HRTG
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.
Further Reading
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