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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 9,200 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $30.03, for a total transaction of $276,276.00. Following the sale, the chief accounting officer owned 96,388 shares in the company, valued at $2,894,531.64. This represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Wednesday, July 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $26.58, for a total transaction 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 transaction of $224,112.00.

Heritage Insurance Stock Up 1.5%

NYSE:HRTG traded up $0.43 during trading hours on Wednesday, hitting $30.23. 283,266 shares of the stock traded hands, compared to its average volume of 370,031. The firm has a 50 day moving average price of $25.42 and a 200 day moving average price of $25.92. The firm has a market cap of $917.57 million, a price-to-earnings ratio of 4.64 and a beta of 0.89. Heritage Insurance Holdings, Inc. has a fifty-two week low of $16.83 and a fifty-two week 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.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.25 by $0.80. Heritage Insurance had a return on equity of 43.68% and a net margin of 23.76%.The business had revenue of $214.19 million during the quarter, compared to analysts’ expectations of $212.71 million. Equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current year.

Institutional Trading of Heritage Insurance

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 234,296 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Heritage Insurance by 52.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider’s stock valued at $5,740,000 after purchasing an additional 75,339 shares during the last quarter. Denali Advisors LLC acquired a new position in Heritage Insurance during the fourth quarter valued at approximately $2,490,000. Y Intercept Hong Kong Ltd bought a new position in shares of Heritage Insurance in the first quarter valued at approximately $2,212,000. Finally, Inspire Investing LLC bought a new position in shares of Heritage Insurance in the first quarter valued at approximately $1,547,000. Institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

HRTG has been the topic of several research analyst reports. Wall Street Zen cut Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. 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 research report on Wednesday, July 15th. Truist Financial decreased their price target on shares of Heritage Insurance from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, May 11th. Zacks Research raised shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Finally, Weiss Ratings lowered shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.50.

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.