Insider Selling: Heritage Insurance (NYSE:HRTG) CFO Sells 6,803 Shares of Stock

Key Points

• Kirk Lusk, CFO of Heritage Insurance, recently sold 6,803 shares at an average price of $24.16, decreasing his ownership by 1.16% to 578,756 shares.
• Heritage Insurance shares traded up 2.2%, reaching $25.38, with a market capitalization of approximately $787.33 million and a PE ratio of 7.31.
• The company recently reported earnings of $1.55 EPS, exceeding expectations by $0.52, despite revenue falling short of forecasts.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CFO Kirk Lusk sold 6,803 shares of the company's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $24.16, for a total transaction of $164,360.48. Following the completion of the transaction, the chief financial officer owned 578,756 shares in the company, valued at $13,982,744.96. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, October 1st, Kirk Lusk sold 13,197 shares of Heritage Insurance stock. The stock was sold at an average price of $24.77, for a total transaction of $326,889.69.
• On Friday, September 12th, Kirk Lusk sold 20,000 shares of Heritage Insurance stock. The shares were sold at an average price of $24.17, for a total transaction of $483,400.00.

Heritage Insurance Stock Up 2.2%

NYSE:HRTG traded up $0.54 during midday trading on Tuesday, reaching $25.38. 426,547 shares of the stock traded hands, compared to its average volume of 392,986. Heritage Insurance Holdings, Inc. has a 12-month low of $9.01 and a 12-month high of $29.10. The business has a 50-day moving average of $23.12 and a two-hundred day moving average of $21.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $787.33 million, a PE ratio of 7.31 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its earnings results 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 net margin of 12.71% and a return on equity of 33.36%. The company had revenue of $208.04 million during the quarter, compared to analysts' expectations of $212.12 million. On average, equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Institutional Trading of Heritage Insurance

Several institutional investors have recently added to or reduced their stakes in HRTG. USA Financial Formulas bought a new position in Heritage Insurance in the 2nd quarter valued at about $25,000. Nisa Investment Advisors LLC lifted 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. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Heritage Insurance during the third quarter valued at about $66,000. BNP Paribas Financial Markets lifted 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. Finally, AlphaQuest LLC lifted 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. Institutional investors own 59.03% of the company's stock.

Analyst Upgrades and Downgrades

HRTG has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Heritage Insurance to a "strong-buy" rating in a research report on Monday, August 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Heritage Insurance in a research report on Saturday, September 27th. Finally, Truist Financial lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $31.50.

About Heritage Insurance

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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