Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Nicholas George Pappas Sells 4,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Nicholas George Pappas sold 4,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.64, for a total value of $50,560.00. Following the transaction, the director now owns 76,314 shares in the company, valued at $964,608.96. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Insurance Stock Performance

NYSE:HRTG opened at $12.44 on Wednesday. The firm has a market capitalization of $381.66 million, a PE ratio of 4.98 and a beta of 0.98. The business’s fifty day moving average price is $11.95 and its 200 day moving average price is $10.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. Heritage Insurance Holdings, Inc. has a 12 month low of $5.51 and a 12 month high of $16.90.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.02 by $0.25. The firm had revenue of $211.85 million for the quarter, compared to analyst estimates 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 in the prior year, the company posted ($0.28) earnings per share. On average, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial upped their price objective on Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. StockNews.com raised Heritage Insurance from a “hold” rating to a “buy” rating in a report on Monday. Finally, Piper Sandler raised Heritage Insurance from a “neutral” rating to an “overweight” rating and increased their target price for the company from $9.00 to $13.00 in a report on Friday, August 9th.

Hedge Funds Weigh In On Heritage Insurance

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of Heritage Insurance during the second quarter worth about $30,000. nVerses Capital LLC purchased a new position in shares of Heritage Insurance during the third quarter worth about $49,000. Valmark Advisers Inc. acquired a new stake in shares of Heritage Insurance during the second quarter worth about $80,000. Sei Investments Co. acquired a new stake in shares of Heritage Insurance during the second quarter worth about $102,000. Finally, MetLife Investment Management LLC lifted its position in Heritage Insurance by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 7,545 shares during the period. Hedge funds and other institutional investors 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.