Heritage Insurance (NYSE:HRTG) Insider Sells $775,811.79 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) insider Timothy Moura sold 29,133 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $26.63, for a total value of $775,811.79. Following the transaction, the insider owned 210,535 shares in the company, valued at $5,606,547.05. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Heritage Insurance Trading Down 0.9%

Shares of NYSE HRTG opened at $26.42 on Thursday. Heritage Insurance Holdings, Inc. has a twelve month low of $13.27 and a twelve month high of $31.98. The firm has a market cap of $811.50 million, a PE ratio of 4.18 and a beta of 0.95. The business has a fifty day simple moving average of $26.35 and a two-hundred day simple moving average of $26.55. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.54. The business had revenue of $215.32 million for the quarter, compared to the consensus estimate of $212.60 million. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%. Analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on HRTG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a research report on Monday, December 29th. Citigroup reaffirmed a “market perform” rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Finally, Truist Financial boosted their price objective on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. One 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 company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $33.50.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in shares of Heritage Insurance during the third quarter valued at about $25,000. Financial Management Professionals Inc. bought a new position in shares of Heritage Insurance during the 3rd quarter worth approximately $26,000. Mcguire Capital Advisors Inc. bought a new position in shares of Heritage Insurance during the 4th quarter worth approximately $31,000. Royal Bank of Canada lifted its position 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 valued at $35,000 after acquiring an additional 497 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Heritage Insurance during the third quarter valued at approximately $36,000. 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.