Sharon Binnun Sells 9,200 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 9,200 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $24.36, for a total value of $224,112.00. Following the sale, the chief accounting officer owned 114,788 shares in the company, valued at approximately $2,796,235.68. The trade was a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sharon Binnun also recently made the following trade(s):

• On Friday, May 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $28.99, for a total value of $266,708.00.
• On Wednesday, April 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $25.72, for a total value of $236,624.00.

Heritage Insurance Stock Down 4.8%

Shares of NYSE:HRTG opened at $24.32 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Heritage Insurance Holdings, Inc. has a 52-week low of $16.83 and a 52-week high of $31.98. The company has a 50 day moving average of $24.41 and a two-hundred day moving average of $26.05. The company has a market capitalization of $738.11 million, a price-to-earnings ratio of 3.73 and a beta of 0.91.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.34). The firm had revenue of $212.66 million for the quarter, compared to analysts’ expectations of $215.39 million. Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. As a group, analysts forecast that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently modified their holdings of HRTG. Advisory Services Network LLC bought a new position in shares of Heritage Insurance during the third quarter worth about $25,000. Mcguire Capital Advisors Inc. bought a new stake in Heritage Insurance in the fourth quarter valued at about $31,000. Royal Bank of Canada increased its holdings in Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $35,000 after buying an additional 497 shares during the last quarter. Optiver Holding B.V. raised its stake in Heritage Insurance by 510.0% during the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock valued at $37,000 after buying an additional 1,173 shares in the last quarter. Finally, Harbour Investments Inc. acquired a new stake in Heritage Insurance during the fourth quarter valued at approximately $50,000. Institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on HRTG shares. Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a report on Monday, May 11th. Weiss Ratings lowered Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Truist Financial lowered their price objective on Heritage Insurance from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded Heritage Insurance from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Heritage Insurance has an average rating of “Hold” and an average target price of $36.00.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.