Heritage Insurance (NYSE:HRTG) Stock Price Down 4.9% After Insider Selling

Heritage Insurance Holdings, Inc. (NYSE:HRTG)’s share price fell 4.9% on Wednesday following insider selling activity. The company traded as low as $24.24 and last traded at $24.69. 140,846 shares were traded during trading, a decline of 64% from the average session volume of 389,279 shares. The stock had previously closed at $25.97.

Specifically, Director Panagiotis Apostolou sold 25,000 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the transaction, the director now owns 164,719 shares in the company, valued at $4,183,862.60. The trade was a 13.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Piper Sandler raised their price target on shares of Heritage Insurance from $19.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Truist Financial raised their price target on shares of Heritage Insurance from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th.

Heritage Insurance Price Performance

The company has a 50 day simple moving average of $17.04 and a 200-day simple moving average of $13.55. The stock has a market cap of $731.74 million, a price-to-earnings ratio of 9.44 and a beta of 0.95. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.53. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The firm had revenue of $211.52 million for the quarter, compared to analysts’ expectations of $213.68 million. As a group, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Institutional Trading of Heritage Insurance

Institutional investors and hedge funds have recently bought and sold shares of the company. Stifel Financial Corp boosted its holdings in shares of Heritage Insurance by 3.0% in the 4th quarter. Stifel Financial Corp now owns 56,825 shares of the insurance provider’s stock valued at $688,000 after buying an additional 1,640 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Heritage Insurance by 222.2% in the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock valued at $35,000 after buying an additional 2,000 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Heritage Insurance by 18.1% in the 4th quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider’s stock valued at $162,000 after buying an additional 2,058 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in shares of Heritage Insurance by 21.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock valued at $150,000 after buying an additional 2,210 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Heritage Insurance by 0.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 366,595 shares of the insurance provider’s stock valued at $4,436,000 after buying an additional 2,479 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.