Heritage Insurance (NYSE:HRTG) CFO Kirk Lusk Sells 10,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.16, for a total transaction of $341,600.00. Following the completion of the transaction, the chief financial officer owned 492,522 shares of the company’s stock, valued at approximately $16,824,551.52. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Heritage Insurance Stock Down 0.9%

Shares of HRTG stock opened at $33.38 on Thursday. The company has a market capitalization of $992.39 million, a price-to-earnings ratio of 4.75 and a beta of 0.89. Heritage Insurance Holdings, Inc. has a one year low of $20.48 and a one year high of $36.50. The company’s fifty day moving average price is $27.94 and its 200-day moving average price is $26.48. 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 released its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. The company had revenue of $214.19 million for the quarter, compared to analysts’ expectations of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. Sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial lifted 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. Weiss Ratings restated a “buy (b-)” rating on shares of Heritage Insurance in a research note on Friday, August 7th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Piper Sandler lifted their price objective on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Heritage Insurance presently has a consensus rating of “Buy” and a consensus target price of $36.50.

Hedge Funds Weigh In On Heritage Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC bought a new position in shares of Heritage Insurance in the 3rd quarter valued at about $25,000. Mcguire Capital Advisors Inc. bought a new stake in Heritage Insurance during the fourth quarter worth approximately $31,000. Royal Bank of Canada increased its stake in Heritage Insurance by 72.6% during the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 497 shares during the last quarter. Optiver Holding B.V. raised its position in 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, Harbour Investments Inc. purchased a new stake in Heritage Insurance during the fourth quarter valued at approximately $50,000. 59.03% of the stock is owned by hedge funds and other 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.