Heritage Insurance (NYSE:HRTG) CAO Sharon Binnun Sells 6,565 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 6,565 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $33.81, for a total value of $221,962.65. Following the transaction, the chief accounting officer directly owned 80,623 shares in the company, valued at $2,725,863.63. This represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, September 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $33.91, for a total value of $311,972.00.
• 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 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 shares were sold at an average price of $24.36, for a total transaction of $224,112.00.

Heritage Insurance Stock Up 0.0%

Shares of NYSE HRTG opened at $34.54 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. Heritage Insurance Holdings, Inc. has a 52 week low of $20.48 and a 52 week high of $36.50. The firm has a 50-day moving average price of $31.19 and a 200 day moving average price of $27.51. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 4.92 and a beta of 0.92.

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

Institutional Trading of Heritage Insurance

Several institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP increased its stake in shares of Heritage Insurance by 308.0% during the 2nd quarter. Engineers Gate Manager LP now owns 38,182 shares of the insurance provider’s stock worth $996,000 after purchasing an additional 28,824 shares in the last quarter. Corient Private Wealth LP purchased a new stake in Heritage Insurance in the 2nd quarter valued at approximately $1,091,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Heritage Insurance during the 2nd quarter valued at $960,000. California State Teachers Retirement System increased its position 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 buying an additional 818,237 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Heritage Insurance during the second quarter worth $272,000. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen raised Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Piper Sandler lifted their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Finally, Truist Financial upped their target price on Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Heritage Insurance currently has a consensus rating of “Buy” and a consensus target price of $36.50.

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.