Insider Selling: Heritage Insurance (NYSE:HRTG) Insider 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 on Wednesday, August 19th. The shares were sold at an average price of $33.68, for a total value of $117,880.00. Following the completion of the transaction, the insider directly owned 25,438 shares in the company, valued at approximately $856,751.84. This represents a 12.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Price Performance

HRTG stock traded up $0.29 during mid-day trading on Friday, hitting $33.92. 254,623 shares of the stock were exchanged, compared to its average volume of 369,368. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.83 and a beta of 0.89. The business has a fifty day moving average price of $28.16 and a 200 day moving average price of $26.53. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50.

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, topping analysts’ consensus estimates of $1.25 by $0.80. The company had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. On average, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.

Wall Street Analyst Weigh In

HRTG has been the topic of a number of analyst reports. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Heritage Insurance in a research report on Friday, August 7th. Piper Sandler increased their price objective on Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Truist Financial lifted their target price on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $36.50.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC bought a new stake in shares of Heritage Insurance in the 2nd quarter worth approximately $272,000. Empowered Funds LLC bought a new position in shares of Heritage Insurance during the second quarter valued at approximately $4,230,000. Public Employees Retirement System of Ohio purchased a new stake in Heritage Insurance in the second quarter worth $917,000. Corient Private Wealth LP purchased a new stake in Heritage Insurance in the second quarter worth $1,120,000. Finally, Bank of America Corp DE bought a new stake in Heritage Insurance in the second quarter valued at $6,070,000. Hedge funds and other institutional investors own 59.03% of the company’s stock.

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.