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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Nicholas George Pappas sold 4,000 shares of the 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 sale, the director now owns 76,314 shares of the company’s stock, valued at approximately $964,608.96. This represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Heritage Insurance Trading Down 0.6 %

Shares of NYSE:HRTG opened at $12.36 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s 50-day moving average is $11.80 and its 200-day moving average is $10.62. The company has a market cap of $379.20 million, a P/E ratio of 4.94 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.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. The business 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 period in the previous year, the company posted ($0.28) earnings per share. Equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its stake in shares of Heritage Insurance by 63.3% in the second quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock worth $3,064,000 after purchasing an additional 167,819 shares during the period. Dimensional Fund Advisors LP increased its stake in Heritage Insurance by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock valued at $10,016,000 after acquiring an additional 96,923 shares during the period. Segall Bryant & Hamill LLC bought a new position in Heritage Insurance during the third quarter valued at about $1,541,000. Renaissance Technologies LLC increased its stake in Heritage Insurance by 45.7% during the second quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock valued at $3,088,000 after acquiring an additional 136,800 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Heritage Insurance by 263.3% during the second quarter. Bank of New York Mellon Corp now owns 87,814 shares of the insurance provider’s stock valued at $622,000 after acquiring an additional 63,645 shares during the period. 59.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.