Richard Widdicombe Sells 50,000 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Chairman Richard Widdicombe sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $29.40, for a total value of $1,470,000.00. Following the transaction, the chairman owned 449,047 shares in the company, valued at $13,201,981.80. The trade was a 10.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Heritage Insurance Price Performance

Shares of Heritage Insurance stock traded down $2.24 during trading on Thursday, reaching $26.10. The company’s stock had a trading volume of 830,375 shares, compared to its average volume of 405,036. The business has a 50 day moving average price of $25.65 and a 200-day moving average price of $23.77. Heritage Insurance Holdings, Inc. has a 12-month low of $9.89 and a 12-month high of $31.98. The company has a market capitalization of $806.63 million, a P/E ratio of 5.40 and a beta of 0.95. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.18.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $1.63 EPS for the quarter, topping the consensus estimate of $0.53 by $1.10. The company had revenue of $212.46 million for the quarter, compared to analyst estimates of $210.12 million. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. As a group, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HRTG shares. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Wall Street Zen cut Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Truist Financial raised their price objective on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Weiss Ratings upgraded Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy 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 $32.50.

Institutional Trading of Heritage Insurance

Several institutional investors and hedge funds have recently made changes to their positions in HRTG. Marshall Wace LLP lifted its holdings in Heritage Insurance by 58.9% in the 2nd quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider’s stock valued at $23,498,000 after purchasing an additional 349,168 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Heritage Insurance by 223.9% in the third quarter. Assenagon Asset Management S.A. now owns 462,075 shares of the insurance provider’s stock valued at $11,635,000 after buying an additional 319,434 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Heritage Insurance by 290.8% during the second quarter. Prudential Financial Inc. now owns 383,582 shares of the insurance provider’s stock valued at $9,567,000 after buying an additional 285,425 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Heritage Insurance by 69.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock valued at $13,128,000 after buying an additional 216,019 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Heritage Insurance by 33.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider’s stock worth $16,180,000 after acquiring an additional 163,142 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.