Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix Acquires 5,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix acquired 5,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $8.21 per share, with a total value of $41,050.00. Following the completion of the purchase, the chief executive officer now directly owns 1,067,584 shares of the company’s stock, valued at $8,764,864.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Heritage Insurance Price Performance

Shares of NYSE HRTG traded down $0.18 during trading on Tuesday, reaching $8.05. The company had a trading volume of 350,463 shares, compared to its average volume of 414,006. Heritage Insurance Holdings, Inc. has a 52 week low of $3.66 and a 52 week high of $11.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The business’s 50 day moving average price is $9.23 and its 200-day moving average price is $7.64. The stock has a market cap of $246.50 million, a PE ratio of 4.90 and a beta of 0.92.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.14). The company had revenue of $191.30 million during the quarter, compared to the consensus estimate of $189.05 million. Heritage Insurance had a return on equity of 25.96% and a net margin of 6.07%. During the same quarter last year, the firm earned $0.55 EPS. Analysts expect that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current year.

Institutional Trading of Heritage Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Heritage Insurance during the 4th quarter worth approximately $40,000. Quadrature Capital Ltd acquired a new stake in Heritage Insurance during the 3rd quarter worth $109,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Heritage Insurance during the 1st quarter valued at $155,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Heritage Insurance during the 3rd quarter valued at $172,000. Finally, Ritholtz Wealth Management lifted its stake in shares of Heritage Insurance by 232.0% in the 4th quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 23,826 shares during the period. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HRTG has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. JMP Securities reaffirmed a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Piper Sandler reissued a “neutral” rating and issued a $9.00 target price on shares of Heritage Insurance in a report on Monday, April 1st. Finally, StockNews.com cut Heritage Insurance from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.00.

Heritage Insurance Company Profile

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.