Transaction overview
Moura Timothy, serving as President of Narragansett Bay Insurance Company, reported the sale of 29,133 shares of Heritage Insurance Holdings, Inc. (NASDAQ: HRTG) on March 19, 2026, in a Form 4 filing with the Securities and Exchange Commission. The trades were executed under a pre-established 10b5-1 trading arrangement and generated total proceeds of $775,760.
Breakdown of sales
The disposition consisted of two separate sales of common stock. The first tranche comprised 28,223 shares sold at prices ranging from $26.23 to $27.2214, yielding a weighted average price of $26.6025. The second tranche included 910 shares sold at prices between $27.2998 and $27.6431, at a weighted average price of $27.4268.
Post-transaction ownership
Following these transactions, Timothy is recorded as directly owning 210,535 shares of Heritage Insurance Holdings, Inc.
Valuation and recent price action
The insider sale comes while the stock trades at a price-to-earnings ratio of 4.24. According to InvestingPro analysis cited in the filing, the company is presently considered undervalued relative to its Fair Value. Market movement has been mixed in the short and longer term: shares declined 9.8% over the past week but have appreciated roughly 89% over the last 12 months.
Company performance and analyst coverage
Heritage Insurance reported fourth-quarter results that exceeded analyst expectations, driven in the company’s disclosure by improved underwriting outcomes and reduced catastrophe losses. Several sell-side firms issued updates in response. Truist Securities raised its price target on Heritage to $39 from $37 while maintaining a Buy rating; the firm also raised its 2026 earnings-per-share estimate to $5.00 from $4.50 and published an initial 2027 EPS forecast of $5.55. Piper Sandler reiterated an Overweight rating and identified Heritage as a weekly focus idea ahead of the company’s upcoming fourth-quarter 2025 earnings report.
Citizens kept a Market Perform rating on the stock, noting that excess capital appears to be accumulating on Heritage’s balance sheet and could support additional growth. A related metric, the net written premium-to-equity ratio, has declined to below 2.0x, which the firm cites as an indicator of available capital.
Market capitalization
Heritage Insurance’s market capitalization is reported at $834 million.
Context and takeaways
The sale by a company insider was executed under a pre-arranged trading plan and did not change the ongoing pattern of analyst attention that followed the company’s stronger-than-expected quarterly performance. Analysts have adjusted targets and estimates upward in light of improved underwriting and lower catastrophe losses, while some observers highlight excess capital metrics that may enable growth. Investors considering positions in HRTG should weigh insider activity alongside these fundamental updates.