Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix Acquires 5,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $8.21 per share, for a total transaction of $41,050.00. Following the transaction, the chief executive officer now directly owns 1,067,584 shares in the company, valued at $8,764,864.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Heritage Insurance Stock Performance

Shares of Heritage Insurance stock opened at $8.05 on Wednesday. The company has a market cap of $246.50 million, a PE ratio of 4.91 and a beta of 0.92. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.54. Heritage Insurance Holdings, Inc. has a 52 week low of $3.66 and a 52 week high of $11.23. The business has a 50 day moving average price of $9.24 and a 200-day moving average price of $7.66.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.14). Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. The company had revenue of $191.30 million for the quarter, compared to the consensus estimate of $189.05 million. During the same quarter last year, the business posted $0.55 earnings per share. Equities analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HRTG. StockNews.com lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Truist Financial increased their price target on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. JMP Securities reiterated a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price target on shares of Heritage Insurance in a research note on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in shares of Heritage Insurance in the 4th quarter worth approximately $40,000. Quadrature Capital Ltd bought a new stake in Heritage Insurance during the third quarter worth $109,000. Susquehanna Fundamental Investments LLC purchased a new position in Heritage Insurance in the first quarter worth $155,000. O Shaughnessy Asset Management LLC bought a new position in Heritage Insurance in the 3rd quarter valued at $172,000. Finally, Ritholtz Wealth Management increased its position in shares of Heritage Insurance by 232.0% during the 4th quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 23,826 shares during the last quarter. 59.03% of the stock is owned by institutional investors.

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.