Heritage Insurance (NYSE:HRTG) CEO Ernie Garateix Sells 5,000 Shares of Stock

Key Points

• CEO Ernie Garateix sold 5,000 Heritage Insurance shares at an average price of $34.31, generating $171,550. He retained 1,055,955 shares after the transaction, reducing his ownership by 0.47%.
• Heritage Insurance recently reported quarterly EPS of $2.05, beating analyst estimates of $1.25, while revenue of $214.19 million slightly exceeded expectations.
• The stock traded at $33.38, down 0.9%, while analysts maintained an overall “Buy” rating with an average price target of $36.50; institutional investors own 59.03% of the company.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie Garateix sold 5,000 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.31, for a total value of $171,550.00. Following the completion of the transaction, the chief executive officer owned 1,055,955 shares of the company's stock, valued at $36,229,816.05. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Heritage Insurance Trading Down 0.9%

NYSE HRTG traded down $0.31 during trading hours on Wednesday, hitting $33.38. 176,198 shares of the company's stock were exchanged, compared to its average volume of 371,063. The business's 50 day moving average is $27.72 and its 200-day moving average is $26.43. Heritage Insurance Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $36.50. The firm has a market capitalization of $992.39 million, a P/E ratio of 4.75 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.80. The firm had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. As a group, analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Institutional Trading of Heritage Insurance

A number of institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC grew its holdings in Heritage Insurance by 1.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider's stock valued at $690,000 after purchasing an additional 489 shares in the last quarter. Royal Bank of Canada lifted its holdings in Heritage Insurance by 72.6% in the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider's stock worth $35,000 after buying an additional 497 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock valued at $196,000 after buying an additional 546 shares during the last quarter. Graham Capital Management L.P. grew its stake 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 valued at $567,000 after acquiring an additional 789 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Heritage Insurance during the third quarter valued at about $25,000. Hedge funds and other institutional investors own 59.03% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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