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 business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $8.56, for a total value of $51,360.00. Following the completion of the sale, the director now owns 75,400 shares of the company’s stock, valued at approximately $645,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were 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 stock was sold at an average price of $7.06, for a total value of $9,178.00.

Heritage Insurance Stock Performance

HRTG traded up $0.27 during trading hours on Thursday, hitting $8.58. 312,320 shares of the stock were exchanged, compared to its average volume of 412,160. The stock has a 50-day simple moving average of $9.27 and a 200-day simple moving average of $7.67. Heritage Insurance Holdings, Inc. has a 12 month low of $3.73 and a 12 month high of $11.23. The stock has a market cap of $262.86 million, a price-to-earnings ratio of 5.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data 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 the consensus estimate of $189.05 million. During the same period last year, the company earned $0.55 earnings per share. Analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current year.

Institutional Investors Weigh In On Heritage Insurance

Several institutional investors have recently bought and sold shares of HRTG. Tower Research Capital LLC TRC acquired a new position in Heritage Insurance during the fourth quarter worth about $40,000. Quadrature Capital Ltd bought a new stake in shares of Heritage Insurance during the 3rd quarter worth $109,000. Fortis Capital Advisors LLC acquired a new position in shares of Heritage Insurance in the 1st quarter worth $134,000. Susquehanna Fundamental Investments LLC purchased a new position in Heritage Insurance in the 1st quarter worth about $155,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Heritage Insurance during the third quarter valued at approximately $172,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analysts Set New Price Targets

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