Timothy Moura Sells 15,104 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Moura sold 15,104 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $32.49, for a total transaction of $490,728.96. Following the sale, the insider directly owned 144,941 shares in the company, valued at $4,709,133.09. This represents a 9.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Heritage Insurance Stock Performance

NYSE:HRTG opened at $33.18 on Friday. Heritage Insurance Holdings, Inc. has a 1 year low of $20.48 and a 1 year high of $36.50. The firm has a 50 day moving average of $26.99 and a 200-day moving average of $26.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $986.44 million, a P/E ratio of 4.73 and a beta of 0.89.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.25 by $0.80. The business had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.71 million. Heritage Insurance had a return on equity of 44.15% and a net margin of 25.19%. As a group, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Institutional Trading of Heritage Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC bought a new position in shares of Heritage Insurance in the 2nd quarter valued at about $2,129,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Heritage Insurance during the second quarter worth approximately $14,437,000. PEAK6 LLC acquired a new position in Heritage Insurance in the second quarter valued at approximately $843,000. Pinnacle Holdings LLC acquired a new position in Heritage Insurance in the second quarter valued at approximately $48,000. Finally, Ieq Capital LLC bought a new position in Heritage Insurance in the second quarter valued at approximately $494,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial raised their target price on Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research upgraded shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Piper Sandler increased their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Heritage Insurance in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.