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

Heritage Insurance Holdings, Inc. (NYSE:HRTG – Get Free Report) 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 value 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. This represents a 1.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Heritage Insurance Stock Up 0.6%

Shares of NYSE:HRTG opened at $33.53 on Friday. The company has a market capitalization of $996.85 million, a price-to-earnings ratio of 4.78 and a beta of 0.89. The company has a 50 day moving average of $28.16 and a two-hundred day moving average of $26.53. Heritage Insurance Holdings, Inc. has a 52-week low of $20.48 and a 52-week high of $36.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13.

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Heritage Insurance (NYSE:HRTG – Get Free Report) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.80. The business 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%. As a group, analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently modified their holdings of HRTG. Kestra Private Wealth Services LLC lifted its stake in Heritage Insurance by 1.9% during the first 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 last quarter. 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 valued at $35,000 after purchasing an additional 497 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Heritage Insurance by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 546 shares during the last quarter. Graham Capital Management L.P. raised its holdings in shares of Heritage Insurance by 4.2% during the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock worth $567,000 after purchasing an additional 789 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Heritage Insurance during the third quarter worth $25,000. Institutional investors own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

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

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About Heritage Insurance

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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.

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