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

Key Points

• CEO Ernie Garateix sold 8,334 shares of Heritage Insurance at an average price of $23.01, totaling $191,765.34, and now owns 1,229,140 shares valued at approximately $28.28 million.
• Heritage Insurance's stock has seen a 2.1% increase recently, trading at $23.36, with a market cap of $724.58 million and a PE ratio of 6.73.
• Analyst ratings for Heritage Insurance vary, with a recent downgrade from Zacks from "strong-buy" to "hold," and a consensus target price of $31.50, indicating a "Moderate Buy" rating.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 8,334 shares of the company's stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $23.01, for a total value of $191,765.34. Following the completion of the sale, the chief executive officer owned 1,229,140 shares of the company's stock, valued at $28,282,511.40. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Heritage Insurance Trading Up 2.1%

HRTG traded up $0.49 during trading hours on Wednesday, reaching $23.36. The company's stock had a trading volume of 372,563 shares, compared to its average volume of 399,336. Heritage Insurance Holdings, Inc. has a fifty-two week low of $9.71 and a fifty-two week high of $29.10. The stock has a market cap of $724.58 million, a PE ratio of 6.73 and a beta of 0.98. The business's 50-day moving average is $24.05 and its 200-day moving average is $22.42. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82.

Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.52. Heritage Insurance had a return on equity of 33.36% and a net margin of 12.71%.The firm had revenue of $208.04 million for the quarter, compared to analysts' expectations of $212.12 million. As a group, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently modified their holdings of HRTG. Marshall Wace LLP increased its stake in shares of Heritage Insurance by 58.9% in the second quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider's stock valued at $23,498,000 after purchasing an additional 349,168 shares during the period. American Century Companies Inc. boosted its holdings in Heritage Insurance by 17.7% during the second quarter. American Century Companies Inc. now owns 796,605 shares of the insurance provider's stock worth $19,867,000 after buying an additional 119,791 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Heritage Insurance by 33.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider's stock valued at $16,180,000 after buying an additional 163,142 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Heritage Insurance by 69.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider's stock worth $13,128,000 after purchasing an additional 216,019 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Heritage Insurance by 1.6% during the second quarter. Geode Capital Management LLC now owns 517,803 shares of the insurance provider's stock valued at $12,917,000 after buying an additional 8,112 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HRTG. Zacks Research lowered shares of Heritage Insurance from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Heritage Insurance in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Truist Financial lifted their price target on shares of Heritage Insurance from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.50.

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.

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