Heritage Insurance (NYSE:HRTG) Insider Timothy Johns Sells 3,500 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Johns sold 3,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $33.68, for a total transaction of $117,880.00. Following the completion of the transaction, the insider directly owned 25,438 shares of the company’s stock, valued at approximately $856,751.84. The trade was a 12.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Trading Up 0.9%

Shares of HRTG stock opened at $33.92 on Friday. 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 1 year low of $20.48 and a 1 year high of $36.50. The stock’s 50 day simple moving average is $28.39 and its two-hundred day simple moving average is $26.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.83 and a quick ratio of 0.83.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.80. The firm had revenue of $214.19 million during 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%. Research analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current year.

Analysts Set New Price Targets

HRTG has been the subject of several recent analyst reports. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Truist Financial raised their target price 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heritage Insurance in a research note on Friday, August 7th. Finally, Piper Sandler upped their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. One research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $36.50.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in Heritage Insurance in the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Heritage Insurance during the fourth quarter worth $31,000. Royal Bank of Canada boosted its stake in shares of Heritage Insurance by 72.6% during the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 497 shares during the period. Optiver Holding B.V. boosted its stake in shares of Heritage Insurance by 510.0% during the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 1,173 shares during the period. Finally, Pinnacle Holdings LLC bought a new position in shares of Heritage Insurance in the second quarter worth about $48,000. 59.03% of the stock is owned by 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.