Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 8,334 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $29.48, for a total value of $245,686.32. Following the completion of the sale, the chief executive officer directly owned 1,136,838 shares of the company’s stock, valued at approximately $33,513,984.24. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Heritage Insurance Trading Up 1.9%

Heritage Insurance stock traded up $0.55 during midday trading on Monday, hitting $29.54. 213,044 shares of the stock were exchanged, compared to its average volume of 397,585. The stock has a market capitalization of $913.21 million, a PE ratio of 6.12 and a beta of 0.96. The company has a fifty day simple moving average of $27.62 and a two-hundred day simple moving average of $24.67. 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 Holdings, Inc. has a 52 week low of $9.89 and a 52 week high of $31.98.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share 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%. Equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HRTG shares. Weiss Ratings raised Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Truist Financial boosted their price objective on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, Heritage Insurance presently has an average rating of “Buy” and a consensus price target of $32.50.

Institutional Trading of Heritage Insurance

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Heritage Insurance by 8.7% during the third quarter. Vanguard Group Inc. now owns 1,646,731 shares of the insurance provider’s stock worth $41,465,000 after buying an additional 132,271 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Heritage Insurance by 8.7% during the 3rd quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock worth $25,793,000 after acquiring an additional 82,190 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Heritage Insurance by 11.5% in the third quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock valued at $22,371,000 after purchasing an additional 91,847 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Heritage Insurance by 33.6% in 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 purchasing an additional 163,142 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Heritage Insurance by 69.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock worth $13,128,000 after purchasing an additional 216,019 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors.

About Heritage Insurance

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.