Heritage Insurance (NYSE:HRTG) CFO Sells $326,889.69 in Stock

Key Points

• Kirk Lusk, CFO of Heritage Insurance, sold 13,197 shares for approximately $326,889.69, decreasing his ownership by 2.20% to 585,559 shares.
• Heritage Insurance reported $1.55 earnings per share for the last quarter, surpassing analysts' expectations of $1.03.
• The company's current market cap is $763.68 million, with shares trading at about $24.62, reflecting a 52-week trading range of $8.70 to $29.10.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CFO Kirk Lusk sold 13,197 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $24.77, for a total value of $326,889.69. Following the completion of the sale, the chief financial officer directly owned 585,559 shares in the company, valued at $14,504,296.43. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kirk Lusk also recently made the following trade(s):

• On Friday, September 12th, Kirk Lusk sold 20,000 shares of Heritage Insurance stock. The stock was sold at an average price of $24.17, for a total value of $483,400.00.

Heritage Insurance Stock Performance

NYSE HRTG traded up $1.25 during trading hours on Friday, hitting $24.62. The company had a trading volume of 538,381 shares, compared to its average volume of 392,387. Heritage Insurance Holdings, Inc. has a fifty-two week low of $8.70 and a fifty-two week high of $29.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $21.41. The firm has a market cap of $763.68 million, a P/E ratio of 7.09 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $212.12 million. Equities analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. USA Financial Formulas bought a new position in Heritage Insurance during the second quarter valued at about $25,000. Nisa Investment Advisors LLC boosted its stake in Heritage Insurance by 2,413.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider's stock valued at $28,000 after buying an additional 1,062 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Heritage Insurance by 77.3% during the second quarter. BNP Paribas Financial Markets now owns 3,035 shares of the insurance provider's stock valued at $76,000 after buying an additional 1,323 shares in the last quarter. AlphaQuest LLC boosted its stake in Heritage Insurance by 252.3% during the second quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider's stock valued at $81,000 after buying an additional 2,334 shares in the last quarter. Finally, Strs Ohio bought a new position in Heritage Insurance during the first quarter valued at about $127,000. Institutional investors own 59.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HRTG shares. Wall Street Zen cut Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Heritage Insurance in a research note on Saturday, September 27th. Zacks Research raised Heritage Insurance to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Truist Financial increased their price target on Heritage Insurance from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target 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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