Heritage Insurance (NYSE:HRTG) CEO Sells $201,016.08 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $24.12, for a total transaction of $201,016.08. Following the completion of the sale, the chief executive officer owned 1,120,170 shares in the company, valued at $27,018,500.40. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Heritage Insurance Stock Performance

Shares of HRTG opened at $27.94 on Friday. Heritage Insurance Holdings, Inc. has a 12-month low of $9.89 and a 12-month high of $31.98. The stock has a market cap of $863.65 million, a P/E ratio of 5.78 and a beta of 0.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $26.63 and a two-hundred day moving average of $25.88.

Analysts Set New Price Targets

HRTG has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Zacks Research downgraded Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Heritage Insurance in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Heritage Insurance by 72.6% during the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 497 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in shares of Heritage Insurance by 0.3% during the third quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock valued at $4,693,000 after acquiring an additional 503 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 546 shares during the last quarter. Graham Capital Management L.P. increased its holdings in Heritage Insurance by 4.2% during the 4th quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock worth $567,000 after purchasing an additional 789 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Heritage Insurance during the third quarter worth approximately $25,000. 59.03% of the stock is owned by hedge funds and other 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.