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 shares were sold at an average price of $32.49, for a total value of $490,728.96. Following the sale, the insider directly owned 144,941 shares of the company’s stock, valued at $4,709,133.09. This represents a 9.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Heritage Insurance Price Performance

Heritage Insurance stock opened at $33.90 on Friday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 4.83 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $27.23 and a 200 day simple moving average of $26.31. Heritage Insurance Holdings, Inc. has a 52 week low of $20.48 and a 52 week high of $36.50.

Heritage Insurance (NYSE:HRTG) last released its quarterly 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. The firm 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%. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HRTG shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heritage Insurance in a research report on Friday, August 7th. Piper Sandler raised their price objective on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Truist Financial lifted their price objective 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. Wall Street Zen upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One 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 company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.50.

Institutional Trading of Heritage Insurance

Several institutional investors have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC increased its holdings in shares of Heritage Insurance by 1.9% in the first quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock worth $690,000 after buying an additional 489 shares during the period. Royal Bank of Canada boosted its holdings 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 valued at $35,000 after acquiring an additional 497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Heritage Insurance by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after acquiring an additional 546 shares during the period. Graham Capital Management L.P. grew its position 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 acquiring an additional 789 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in Heritage Insurance during the 3rd quarter worth approximately $25,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

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.