Key Points
- Heritage Insurance insider Timothy Johns sold 3,500 shares at an average price of $35.91, worth $125,685, reducing his holdings by 15.95%. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Heritage reported quarterly EPS of $2.05, beating estimates by $0.80, while revenue reached $214.19 million. Shares opened at $37.03, near their 12-month high of $37.36.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $36.50, while hedge funds and 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 dated Monday, October 19th. The stock was sold at an average price of $35.91, for a total value of $125,685.00. Following the transaction, the insider owned 18,438 shares of the company's stock, valued at approximately $662,108.58. The trade was a 15.95% decrease in their ownership of the stock. 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 Price Performance
Shares of NYSE HRTG opened at $37.03 on Thursday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 5.27 and a beta of 0.92. 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 stock's 50-day simple moving average is $34.42 and its two-hundred day simple moving average is $29.04. Heritage Insurance Holdings, Inc. has a twelve month low of $20.48 and a twelve month high of $37.36.
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 firm had revenue of $214.19 million for the quarter, compared to analysts' expectations 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 analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.33 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Heritage Insurance from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 8th. Raymond James Financial initiated coverage on shares of Heritage Insurance in a research report on Friday, October 16th. They set a "market perform" rating for the company. Piper Sandler boosted their price target 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 cut shares of Heritage Insurance from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 9th. Finally, Truist Financial increased their price target on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.50.
Get Our Latest Stock Report on Heritage Insurance
Hedge Funds Weigh In On Heritage Insurance
A number of hedge funds and other institutional investors have recently modified their holdings of HRTG. Optiver Holding B.V. increased 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 purchasing an additional 1,173 shares during the last quarter. Pinnacle Holdings LLC purchased a new position in shares of Heritage Insurance during the 2nd quarter valued at about $48,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Heritage Insurance by 3,774.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider's stock valued at $85,000 after buying an additional 2,831 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Heritage Insurance in the 2nd quarter worth approximately $92,000. Finally, State of Wyoming bought a new stake in Heritage Insurance in the 2nd quarter worth approximately $210,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.
About Heritage Insurance
(
Get Free Report)
Heritage Insurance Holdings, Inc (NYSE:HRTG) is a property and casualty insurance company focused primarily on residential insurance. Through its insurance subsidiaries, the company provides coverage for homeowners, condominium owners, renters and other residential property owners, including protection against risks such as wind, fire and other covered losses.
Heritage distributes its products through independent agents and other insurance distribution channels. Its business has historically been concentrated in catastrophe-exposed coastal markets, particularly Florida, and has also included operations in additional states across the southeastern United States.
Further Reading
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