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 stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $33.91, for a total transaction of $311,972.00. Following the sale, the chief accounting officer owned 87,188 shares of the company’s stock, valued at $2,956,545.08. This trade represents a 9.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $30.03, for a total value of $276,276.00.
• On Wednesday, July 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $26.58, for a total value of $244,536.00.
• On Monday, June 22nd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $24.36, for a total value of $224,112.00.

Heritage Insurance Trading Down 3.1%

Shares of HRTG stock opened at $33.84 on Friday. The business’s 50 day moving average is $30.43 and its two-hundred day moving average is $27.17. Heritage Insurance Holdings, Inc. has a twelve month low of $20.48 and a twelve month high of $36.50. The company has a market capitalization of $1.01 billion, a P/E ratio of 4.82 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The business had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Equities analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on HRTG. Wall Street Zen upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heritage Insurance in a research note on Friday, August 7th. Piper Sandler increased their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Truist Financial raised their price objective on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $36.50.

Institutional Trading of Heritage Insurance

A number of institutional investors have recently added to or reduced their stakes in HRTG. BlackRock Inc. acquired a new position in Heritage Insurance during the second quarter worth about $60,842,000. Vanguard Group Inc. grew its holdings in shares of Heritage Insurance by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock worth $55,039,000 after acquiring an additional 234,296 shares during the period. Dimensional Fund Advisors LP increased its stake in Heritage Insurance by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider’s stock valued at $32,732,000 after purchasing an additional 36,879 shares in the last quarter. Marshall Wace LLP raised its holdings in Heritage Insurance by 8.7% during the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock worth $25,793,000 after purchasing an additional 82,190 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in Heritage Insurance by 3,509.9% during the second quarter. California State Teachers Retirement System now owns 841,549 shares of the insurance provider’s stock worth $21,948,000 after purchasing an additional 818,237 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

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.