Insider Selling: Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Sells 4,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Nicholas George Pappas sold 4,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.64, for a total transaction of $50,560.00. Following the transaction, the director now directly owns 76,314 shares in the company, valued at $964,608.96. This represents a 4.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Heritage Insurance Price Performance

Shares of Heritage Insurance stock traded down $0.06 during trading on Tuesday, reaching $12.43. 165,119 shares of the stock traded hands, compared to its average volume of 458,690. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $381.40 million, a price-to-earnings ratio of 4.97 and a beta of 0.98. Heritage Insurance Holdings, Inc. has a 52-week low of $5.51 and a 52-week high of $16.90. The business has a fifty day simple moving average of $12.01 and a two-hundred day simple moving average of $10.57.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.25. The business had revenue of $211.85 million during the quarter, compared to analysts’ expectations of $209.91 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. During the same quarter last year, the business posted ($0.28) EPS. Sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Heritage Insurance

A number of hedge funds have recently bought and sold shares of HRTG. Innealta Capital LLC purchased a new position in shares of Heritage Insurance in the 2nd quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in Heritage Insurance during the third quarter worth $49,000. Valmark Advisers Inc. bought a new position in Heritage Insurance during the second quarter valued at $80,000. Sei Investments Co. purchased a new stake in shares of Heritage Insurance in the second quarter valued at $102,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Heritage Insurance by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock worth $164,000 after acquiring an additional 7,545 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

HRTG has been the topic of several research analyst reports. Truist Financial boosted their price objective on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Piper Sandler upgraded shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $9.00 to $13.00 in a research report on Friday, August 9th.

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.