Insider Selling: Heritage Insurance (NYSE:HRTG) Insider Sells $490,728.96 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Moura sold 15,104 shares of Heritage Insurance stock in a transaction on Monday, August 10th. The stock was sold at an average price of $32.49, for a total transaction of $490,728.96. Following the sale, the insider owned 144,941 shares in the company, valued at $4,709,133.09. This represents a 9.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Heritage Insurance Stock Performance

Shares of HRTG stock traded up $0.79 during mid-day trading on Wednesday, hitting $32.97. 363,606 shares of the stock were exchanged, compared to its average volume of 374,607. The stock’s fifty day simple moving average is $26.51 and its two-hundred day simple moving average is $26.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. Heritage Insurance Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $36.50. The stock has a market capitalization of $980.20 million, a price-to-earnings ratio of 4.70 and a beta of 0.89.

Heritage Insurance (NYSE:HRTG) last posted its 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. Heritage Insurance had a return on equity of 44.15% and a net margin of 25.19%.The business had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. On average, analysts forecast that Heritage Insurance Holdings, Inc. will post 4.75 EPS for the current year.

Institutional Trading of Heritage Insurance

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Heritage Insurance in the 2nd quarter valued at approximately $60,842,000. Vanguard Group Inc. grew its holdings in Heritage Insurance by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock worth $55,039,000 after acquiring an additional 234,296 shares during the period. Quartz Partners LLC acquired a new position in Heritage Insurance during the second quarter worth $4,924,000. JPMorgan Chase & Co. raised its position in Heritage Insurance by 1,078.7% in the second quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock worth $3,514,000 after acquiring an additional 128,927 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Heritage Insurance in the second quarter worth $2,872,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HRTG shares. Truist Financial raised their price objective on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Piper Sandler upped their price objective on Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heritage Insurance in a research note on Friday. Zacks Research upgraded Heritage Insurance from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Wall Street Zen lowered Heritage Insurance from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.50.

Heritage Insurance Company Profile

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.