Insider Selling: Heritage Insurance (NYSE:HRTG) Insider Sells $121,590.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Johns sold 3,500 shares of Heritage Insurance 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 completion of the transaction, the insider owned 21,938 shares in the company, valued at approximately $762,126.12. This trade represents a 13.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Price Performance

Shares of NYSE:HRTG opened at $33.21 on Friday. Heritage Insurance Holdings, Inc. has a one year low of $20.48 and a one year high of $36.50. The stock has a fifty day moving average of $32.45 and a 200-day moving average of $27.95. The company has a market capitalization of $987.33 million, a PE ratio of 4.73 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.80. The business 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 5.5 EPS for the current fiscal year.

Institutional Trading of Heritage Insurance

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in shares of Heritage Insurance in the second quarter worth $2,872,000. BlackRock Inc. acquired a new stake in Heritage Insurance during the second quarter valued at $60,842,000. Arrowstreet Capital Limited Partnership boosted its position in Heritage Insurance by 52.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider’s stock valued at $5,740,000 after purchasing an additional 75,339 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Heritage Insurance in the second quarter valued at about $960,000. Finally, Corient Private Wealth LP acquired a new position in Heritage Insurance in the 2nd quarter worth about $1,120,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on HRTG. Weiss Ratings upgraded Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Truist Financial raised their target price 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. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Piper Sandler boosted their target price on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $36.50.

Heritage Insurance Company Profile

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.