Heritage Insurance (NYSE:HRTG) CAO Sharon Binnun 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 on Friday, May 1st. The stock was sold at an average price of $28.99, for a total transaction of $266,708.00. Following the sale, the chief accounting officer owned 123,988 shares in the company, valued at $3,594,412.12. The trade was a 6.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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, April 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $25.72, for a total transaction of $236,624.00.
• On Tuesday, March 17th, Sharon Binnun sold 7,893 shares of Heritage Insurance stock. The stock was sold at an average price of $28.35, for a total transaction of $223,766.55.

Heritage Insurance Price Performance

Shares of NYSE HRTG opened at $29.01 on Wednesday. The firm has a market capitalization of $880.36 million, a P/E ratio of 4.59 and a beta of 1.03. Heritage Insurance Holdings, Inc. has a one year low of $16.83 and a one year high of $31.98. The company’s fifty day moving average is $27.26 and its two-hundred day moving average is $26.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Monday, March 9th. The insurance provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.61 by $0.54. The company had revenue of $215.32 million for the quarter, compared to analyst estimates of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. Analysts forecast that Heritage Insurance Holdings, Inc. will post 4.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

A number of large investors have recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Heritage Insurance by 23.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,264 shares of the insurance provider’s stock valued at $296,000 after acquiring an additional 2,113 shares during the last quarter. Bleakley Financial Group LLC acquired a new stake in Heritage Insurance in the 1st quarter valued at about $295,000. Moran Wealth Management LLC acquired a new stake in Heritage Insurance in the 1st quarter valued at about $289,000. Counterpoint Mutual Funds LLC grew its stake in Heritage Insurance by 35.9% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 11,854 shares of the insurance provider’s stock valued at $311,000 after acquiring an additional 3,133 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Heritage Insurance in the 1st quarter valued at about $2,212,000. 59.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HRTG. Truist Financial boosted their target price on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Citigroup reaffirmed a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “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.