Insider Selling: Heritage Insurance (NYSE:HRTG) CFO Sells $481,883.22 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk sold 19,929 shares of Heritage Insurance stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $24.18, for a total value of $481,883.22. Following the transaction, the chief financial officer directly owned 558,756 shares of the company’s stock, valued at approximately $13,510,720.08. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kirk Lusk also recently made the following trade(s):

• On Tuesday, November 4th, Kirk Lusk sold 71 shares of Heritage Insurance stock. The shares were sold at an average price of $24.00, for a total value of $1,704.00.
• On Friday, October 3rd, Kirk Lusk sold 6,803 shares of Heritage Insurance stock. The stock was sold at an average price of $24.16, for a total value of $164,360.48.
• On Wednesday, October 1st, Kirk Lusk sold 13,197 shares of Heritage Insurance stock. The stock was sold at an average price of $24.77, for a total transaction of $326,889.69.
• On Friday, September 12th, Kirk Lusk sold 20,000 shares of Heritage Insurance stock. The shares were sold at an average price of $24.17, for a total transaction of $483,400.00.

Heritage Insurance Stock Performance

Shares of HRTG opened at $29.57 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The stock has a market cap of $917.33 million, a P/E ratio of 6.12 and a beta of 0.95. The company has a 50-day moving average of $24.62 and a two-hundred day moving average of $23.15. Heritage Insurance Holdings, Inc. has a 12-month low of $9.89 and a 12-month high of $29.96.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.63 EPS for the quarter, beating the consensus estimate of $0.53 by $1.10. Heritage Insurance had a net margin of 17.72% and a return on equity of 44.62%. The business had revenue of $212.46 million for the quarter, compared to analyst estimates of $210.12 million. As a group, research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday. Wall Street Zen cut Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Weiss Ratings upgraded shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, Truist Financial raised their price target on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, Heritage Insurance presently has an average rating of “Buy” and an average price target of $32.50.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors acquired a new position in shares of Heritage Insurance in the 1st quarter valued at $1,727,000. AQR Capital Management LLC raised its position in shares of Heritage Insurance by 8.6% in the 1st quarter. AQR Capital Management LLC now owns 509,080 shares of the insurance provider’s stock worth $7,341,000 after buying an additional 40,220 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Heritage Insurance by 8.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 485,631 shares of the insurance provider’s stock valued at $7,003,000 after acquiring an additional 37,763 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Heritage Insurance during the first quarter valued at about $751,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Heritage Insurance during the first quarter worth about $228,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

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.