Heritage Insurance (NYSE:HRTG) CAO Sells $311,972.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 9,200 shares of the company’s 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 transaction, the chief accounting officer owned 87,188 shares of the company’s stock, valued at approximately $2,956,545.08. This trade represents a 9.54% decrease in their position. The transaction was disclosed in a legal 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, August 3rd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was 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 stock was 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 shares were sold at an average price of $24.36, for a total value of $224,112.00.

Heritage Insurance Price Performance

Shares of NYSE HRTG traded up $0.57 during midday trading on Thursday, hitting $34.92. The stock had a trading volume of 205,543 shares, compared to its average volume of 361,852. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $30.06 and a 200-day simple moving average of $27.05. The company has a market capitalization of $1.04 billion, a PE ratio of 4.97 and a beta of 0.92. Heritage Insurance Holdings, Inc. has a 1 year low of $20.48 and a 1 year high of $36.50.

Heritage Insurance (NYSE:HRTG) last issued its quarterly 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 42.41% and a net margin of 25.19%.The firm had revenue of $214.19 million during the quarter, compared to analysts’ expectations of $212.71 million. On average, sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Heritage Insurance

Several hedge funds have recently bought and sold shares of HRTG. Kestra Private Wealth Services LLC increased its position in Heritage Insurance by 1.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 489 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Heritage Insurance by 72.6% in the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after acquiring an additional 546 shares during the period. Graham Capital Management L.P. raised its holdings in shares of Heritage Insurance by 4.2% during the 4th quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock valued at $567,000 after buying an additional 789 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Heritage Insurance during the 3rd quarter valued at $25,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

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.