Heritage Insurance Holdings, Inc. (NYSE:HRTG – Get Free Report) dropped 3.1% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $24.41 and last traded at $24.09. Approximately 158,463 shares were traded during trading, a decline of 57% from the average daily volume of 366,848 shares. The stock had previously closed at $24.87.
Specifically, Chairman Richard A. Widdicombe sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $24.15, for a total transaction of $2,415,000.00. Following the completion of the transaction, the chairman owned 599,047 shares of the company’s stock, valued at approximately $14,466,985.05. The trade was a 14.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernie J. Garateix sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $24.61, for a total transaction of $615,250.00. Following the transaction, the chief executive officer directly owned 1,245,808 shares of the company’s stock, valued at approximately $30,659,334.88. This represents a 1.97% decrease in their position. The disclosure for this sale can be found here. In related news, CFO Kirk Lusk sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $24.17, for a total transaction of $483,400.00. Following the completion of the transaction, the chief financial officer owned 598,756 shares of the company’s stock, valued at approximately $14,471,932.52. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Get Heritage Insurance alerts:
Wall Street Analyst Weigh In
Several equities analysts recently commented on HRTG shares. Truist Financial boosted their price objective on shares of Heritage Insurance from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday. Wall Street Zen cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Zacks Research raised shares of Heritage Insurance to a “strong-buy” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.50.
Check Out Our Latest Research Report on Heritage Insurance
Heritage Insurance Trading Up 11.9%
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 firm has a market cap of $882.52 million, a PE ratio of 8.20 and a beta of 1.05. The stock’s 50 day simple moving average is $22.37 and its 200 day simple moving average is $20.61.
Heritage Insurance (NYSE:HRTG – Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $1.55 EPS for the quarter, topping 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 business had revenue of $208.04 million during the quarter, compared to analysts’ expectations of $212.12 million. On average, sell-side analysts forecast 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 hedge funds have recently made changes to their positions in HRTG. USA Financial Formulas bought a new stake in shares of Heritage Insurance in the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC lifted its holdings in shares of Heritage Insurance by 2,413.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 1,062 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Heritage Insurance by 77.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,035 shares of the insurance provider’s stock worth $76,000 after acquiring an additional 1,323 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Heritage Insurance by 252.3% in the 2nd quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock worth $81,000 after acquiring an additional 2,334 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Heritage Insurance in the 1st quarter worth approximately $127,000. 59.03% of the stock is currently owned by institutional investors.
About Heritage Insurance
(Get Free Report)
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.
Further Reading
Five stocks we like better than Heritage Insurance
3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
Tesla: 2 Reasons to Love Musk’s $1B Buy, 1 Reason to Be Bearish
3 Tickers Leading a Meme Stock Revival
Azure Leads While AI Excitement Fuels Microsoft Stock
What Do S&P 500 Stocks Tell Investors About the Market?
Darden Restaurants: A Textbook Buy-the-Dip Opportunity
Heritage Insurance (NYSE:HRTG) Trading Down 3.1% After Insider Selling
