Insider Selling: Heritage Insurance (NYSE:HRTG) CEO Sells 8,334 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $27.24, for a total transaction of $227,018.16. Following the completion of the sale, the chief executive officer directly owned 1,237,474 shares in the company, valued at $33,708,791.76. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Heritage Insurance Price Performance

HRTG stock opened at $23.97 on Friday. The stock has a 50-day moving average price of $22.70 and a two-hundred day moving average price of $21.00. Heritage Insurance Holdings, Inc. has a 1 year low of $8.70 and a 1 year high of $29.10. The stock has a market cap of $743.39 million, a PE ratio of 6.91 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.52. The company had revenue of $208.04 million during the quarter, compared to analysts’ expectations of $212.12 million. Heritage Insurance had a return on equity of 33.36% and a net margin of 12.71%. Equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Formulas bought a new stake in Heritage Insurance during the second quarter worth $25,000. Nisa Investment Advisors LLC grew its position in shares of Heritage Insurance by 2,413.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 1,062 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Heritage Insurance by 77.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,035 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 1,323 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Heritage Insurance by 8,472.2% in the 1st quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider’s stock valued at $450,000 after purchasing an additional 3,050 shares during the period. Finally, AlphaQuest LLC lifted its stake in Heritage Insurance by 252.3% in the 2nd quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 2,334 shares during the last quarter. 59.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HRTG shares. Wall Street Zen downgraded shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Heritage Insurance to a “strong-buy” rating in a research note on Monday, August 11th. Finally, Truist Financial boosted their price target on shares of Heritage Insurance from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, Heritage Insurance has a consensus rating of “Buy” and an average price target of $31.50.

About Heritage Insurance

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.