Insider Selling: Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Sells 6,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Nicholas George Pappas sold 6,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $8.56, for a total value of $51,360.00. Following the sale, the director now directly owns 75,400 shares in the company, valued at approximately $645,424. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Nicholas George Pappas also recently made the following trade(s):

• On Tuesday, March 26th, Nicholas George Pappas sold 1,000 shares of Heritage Insurance stock. The stock was sold at an average price of $10.87, for a total value of $10,870.00.
• On Thursday, February 29th, Nicholas George Pappas sold 1,300 shares of Heritage Insurance stock. The shares were sold at an average price of $7.06, for a total value of $9,178.00.

Heritage Insurance Stock Performance

Heritage Insurance stock traded up $0.27 during trading on Thursday, reaching $8.58. The company had a trading volume of 312,320 shares, compared to its average volume of 412,160. Heritage Insurance Holdings, Inc. has a 52 week low of $3.73 and a 52 week high of $11.23. The firm’s 50-day simple moving average is $9.27 and its 200 day simple moving average is $7.67. The firm has a market capitalization of $262.86 million, a price-to-earnings ratio of 5.07 and a beta of 0.92. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.14). Heritage Insurance had a return on equity of 25.96% and a net margin of 6.07%. The business had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $189.05 million. During the same quarter in the previous year, the company posted $0.55 EPS. Sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its position in shares of Heritage Insurance by 101.5% during the third quarter. Assenagon Asset Management S.A. now owns 107,738 shares of the insurance provider’s stock valued at $699,000 after purchasing an additional 54,272 shares in the last quarter. Jump Financial LLC grew its position in shares of Heritage Insurance by 137.4% during the third quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 27,888 shares in the last quarter. Barclays PLC grew its position in shares of Heritage Insurance by 68.3% during the third quarter. Barclays PLC now owns 58,944 shares of the insurance provider’s stock valued at $383,000 after purchasing an additional 23,926 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Heritage Insurance in the third quarter worth about $2,171,000. Finally, Acadian Asset Management LLC grew its holdings in Heritage Insurance by 110.3% in the third quarter. Acadian Asset Management LLC now owns 376,832 shares of the insurance provider’s stock worth $2,444,000 after purchasing an additional 197,656 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HRTG. Truist Financial raised their target price on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. StockNews.com downgraded Heritage Insurance from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. JMP Securities reissued a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Finally, Piper Sandler reissued a “neutral” rating and set a $9.00 price target on shares of Heritage Insurance in a report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.00.

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.