Ernie Garateix Sells 8,334 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie Garateix sold 8,334 shares of Heritage Insurance stock in a transaction on Monday, April 20th. The shares were sold at an average price of $27.56, for a total transaction of $229,685.04. Following the completion of the transaction, the chief executive officer directly owned 1,060,955 shares in the company, valued at $29,239,919.80. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Stock Performance

Shares of HRTG opened at $27.56 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $846.67 million, a P/E ratio of 4.36 and a beta of 0.95. The company’s fifty day moving average is $26.60 and its two-hundred day moving average is $26.81. Heritage Insurance Holdings, Inc. has a 1 year low of $16.83 and a 1 year high of $31.98.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.54. The company had revenue of $215.32 million for the quarter, compared to analysts’ expectations of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. On average, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 4.7 earnings per share for the current year.

Hedge Funds Weigh In On Heritage Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Heritage Insurance by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock worth $55,039,000 after purchasing an additional 234,296 shares during the period. Marshall Wace LLP grew its stake in shares of Heritage Insurance by 8.7% during the 3rd quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock worth $25,793,000 after purchasing an additional 82,190 shares during the period. American Century Companies Inc. grew its stake in shares of Heritage Insurance by 11.5% during the 3rd quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock worth $22,371,000 after purchasing an additional 91,847 shares during the period. Geode Capital Management LLC grew its stake in shares of Heritage Insurance by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 665,902 shares of the insurance provider’s stock worth $19,486,000 after purchasing an additional 34,996 shares during the period. Finally, State Street Corp grew its stake in shares of Heritage Insurance by 11.4% during the 4th quarter. State Street Corp now owns 507,577 shares of the insurance provider’s stock worth $14,852,000 after purchasing an additional 52,041 shares during the period. 59.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a research note on Friday, March 27th. Citigroup reissued a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Finally, Truist Financial raised their price target on Heritage Insurance from $37.00 to $39.00 and gave the company a “buy” rating in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Heritage Insurance currently has a consensus rating of “Buy” and an average price target of $33.50.

About Heritage Insurance

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.