Heritage Insurance (NYSE:HRTG) CFO Sells $341,600.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk sold 10,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.16, for a total transaction of $341,600.00. Following the completion of the sale, the chief financial officer directly owned 492,522 shares in the company, valued at approximately $16,824,551.52. This trade represents a 1.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Heritage Insurance Stock Performance

Shares of NYSE HRTG opened at $33.92 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $28.39 and a 200-day simple moving average of $26.58. The company has a market cap of $1.01 billion, a PE ratio of 4.83 and a beta of 0.89. Heritage Insurance Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $36.50.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. The firm had revenue of $214.19 million during the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. On average, equities research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.

Hedge Funds Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new stake in Heritage Insurance during the third quarter worth approximately $25,000. Mcguire Capital Advisors Inc. bought a new position in shares of Heritage Insurance in the fourth quarter valued at approximately $31,000. Royal Bank of Canada lifted its stake in shares of Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after buying an additional 497 shares during the last quarter. Optiver Holding B.V. lifted its stake in shares of Heritage Insurance by 510.0% in the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after buying an additional 1,173 shares during the last quarter. Finally, Pinnacle Holdings LLC bought a new stake in shares of Heritage Insurance during the 2nd quarter worth $48,000. Institutional investors own 59.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on HRTG shares. Piper Sandler boosted their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heritage Insurance in a report on Friday, August 7th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research 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, Truist Financial upped their price target on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $36.50.

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.