Heritage Insurance (NYSE:HRTG) CAO Sells $244,536.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 9,200 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $26.58, for a total transaction of $244,536.00. Following the completion of the sale, the chief accounting officer directly owned 105,588 shares of the company’s stock, valued at approximately $2,806,529.04. This trade represents a 8.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 22nd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $24.36, for a total transaction of $224,112.00.
• On Friday, May 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $28.99, for a total transaction of $266,708.00.

Heritage Insurance Price Performance

Heritage Insurance stock traded up $0.31 during mid-day trading on Thursday, hitting $27.12. The stock had a trading volume of 387,284 shares, compared to its average volume of 387,377. Heritage Insurance Holdings, Inc. has a one year low of $16.83 and a one year high of $31.98. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $823.21 million, a P/E ratio of 4.16 and a beta of 0.91. The firm’s 50 day moving average is $24.34 and its 200 day moving average is $26.00.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.34). Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. The business had revenue of $212.66 million for the quarter, compared to the consensus estimate of $215.39 million. On average, sell-side 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

A number of hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in Heritage Insurance during the 3rd quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Heritage Insurance during the 4th quarter worth approximately $31,000. Royal Bank of Canada raised its holdings in shares of Heritage Insurance by 72.6% during the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 497 shares in the last quarter. Optiver Holding B.V. boosted its position in shares of Heritage Insurance by 510.0% during the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Harbour Investments Inc. purchased a new position in shares of Heritage Insurance in the fourth quarter valued at $50,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Heritage Insurance

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.