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 Heritage Insurance stock in a transaction dated 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 directly owns 76,314 shares of the company’s stock, valued at $964,608.96. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Heritage Insurance Stock Performance

Shares of HRTG stock opened at $12.36 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $11.88 and its 200 day moving average price is $10.61. Heritage Insurance Holdings, Inc. has a 52-week low of $5.51 and a 52-week high of $16.90. The stock has a market capitalization of $379.20 million, a PE ratio of 4.94 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.25. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The company had revenue of $211.85 million for the quarter, compared to analysts’ expectations of $209.91 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. As a group, equities research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.27 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Heritage Insurance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in shares of Heritage Insurance during the 2nd quarter worth approximately $30,000. nVerses Capital LLC purchased a new stake in shares of Heritage Insurance during the 3rd quarter worth approximately $49,000. Valmark Advisers Inc. purchased a new stake in shares of Heritage Insurance during the 2nd quarter worth approximately $80,000. Sei Investments Co. purchased a new stake in shares of Heritage Insurance during the 2nd quarter worth approximately $102,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Heritage Insurance by 129.1% during 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 in the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.