Heritage Insurance (NYSE:HRTG) Stock: Insider Timothy Johns Sells 3,500 Shares

by · The Cerbat Gem

Heritage Insurance Holdings, Inc. (NYSE:HRTG – Get Free Report) insider Timothy Johns sold 3,500 shares of the company’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $35.91, for a total transaction of $125,685.00. Following the transaction, the insider owned 18,438 shares of the company’s stock, valued at $662,108.58. This trade represents a 15.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heritage Insurance Price Performance

Shares of HRTG traded up $0.05 during trading hours on Wednesday, reaching $37.03. The stock had a trading volume of 168,075 shares, compared to its average volume of 346,280. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $37.36. The stock has a market capitalization of $1.10 billion, a PE ratio of 5.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83. The company’s 50-day moving average is $34.34 and its two-hundred day moving average is $28.97.

Heritage Insurance (NYSE:HRTG – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.80. The company had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. Research analysts expect that Heritage Insurance Holdings, Inc. will post 5.33 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on HRTG shares. Weiss Ratings upgraded Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Zacks Research cut Heritage Insurance from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Wall Street Zen upgraded Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday. Raymond James Financial assumed coverage on Heritage Insurance in a research note on Friday, October 16th. They issued a “market perform” rating for the company. Finally, Piper Sandler raised their price objective on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.50.

Check Out Our Latest Analysis on HRTG

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds have recently modified their holdings of HRTG. Bank of New York Mellon Corp bought a new stake in shares of Heritage Insurance in the second quarter worth $2,872,000. Bank of America Corp DE acquired a new stake in Heritage Insurance in the second quarter valued at $6,070,000. Corient Private Wealth LP acquired a new stake in Heritage Insurance in the second quarter valued at $1,091,000. BlackRock Inc. acquired a new stake in Heritage Insurance in the second quarter valued at $60,842,000. Finally, Public Employees Retirement System of Ohio bought a new position in Heritage Insurance during the 2nd quarter worth $917,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Company Profile

(Get Free Report)

Heritage Insurance Holdings, Inc (NYSE:HRTG) is a property and casualty insurance company focused primarily on residential insurance. Through its insurance subsidiaries, the company provides coverage for homeowners, condominium owners, renters and other residential property owners, including protection against risks such as wind, fire and other covered losses.

Heritage distributes its products through independent agents and other insurance distribution channels. Its business has historically been concentrated in catastrophe-exposed coastal markets, particularly Florida, and has also included operations in additional states across the southeastern United States.

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