Insider Selling: Heritage Insurance (NYSE:HRTG) Insider Sells $125,685.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Johns sold 3,500 shares of Heritage Insurance stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $35.91, for a total transaction of $125,685.00. Following the transaction, the insider owned 18,438 shares of the company’s stock, valued at $662,108.58. The trade was a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Stock Down 2.4%

HRTG stock opened at $36.80 on Friday. The business has a 50 day moving average of $34.57 and a 200 day moving average of $29.18. The firm has a market cap of $1.09 billion, a PE ratio of 5.24 and a beta of 0.92. Heritage Insurance Holdings, Inc. has a twelve month low of $20.48 and a twelve month high of $37.87. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG) last released 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. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. The business had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.71 million. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.33 EPS for the current fiscal year.

Analyst Ratings Changes

HRTG has been the subject of several recent analyst reports. Zacks Research lowered Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Weiss Ratings raised shares of Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Raymond James Financial assumed coverage on shares of Heritage Insurance in a research note on Friday, October 16th. They set a “market perform” rating for the company. Wall Street Zen raised shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. 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 report on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Heritage Insurance has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Institutional Trading of Heritage Insurance

A number of institutional investors and hedge funds have recently modified their holdings of HRTG. Kestra Private Wealth Services LLC grew its position in Heritage Insurance by 1.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 489 shares during the period. Optiver Holding B.V. raised its stake in Heritage Insurance by 510.0% during the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock valued at $37,000 after buying an additional 1,173 shares during the last quarter. Pinnacle Holdings LLC bought a new position in shares of Heritage Insurance during the 2nd quarter valued at $48,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Heritage Insurance by 23.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,264 shares of the insurance provider’s stock valued at $296,000 after buying an additional 2,113 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Heritage Insurance by 3,774.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider’s stock valued at $85,000 after buying an additional 2,831 shares during the period. 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 company focused primarily on residential insurance. Through its insurance subsidiaries, the company provides coverage for homeowners, condominium owners, renters and other residential property owners, including protection against risks such as wind, fire and other covered losses.

Heritage distributes its products through independent agents and other insurance distribution channels. Its business has historically been concentrated in catastrophe-exposed coastal markets, particularly Florida, and has also included operations in additional states across the southeastern United States.