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 company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $26.58, for a total value of $244,536.00. Following the completion of the sale, the chief accounting officer owned 105,588 shares in the company, valued at $2,806,529.04. This trade represents a 8.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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.
• On Friday, May 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $28.99, for a total transaction of $266,708.00.

Heritage Insurance Stock Up 1.2%

HRTG opened at $27.12 on Friday. The firm has a market cap of $823.21 million, a price-to-earnings ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50-day simple moving average is $24.34 and its 200-day simple moving average is $25.99. Heritage Insurance Holdings, Inc. has a twelve month low of $16.83 and a twelve month high of $31.98.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.34). The firm had revenue of $212.66 million for the quarter, compared to the consensus estimate of $215.39 million. Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. Equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HRTG shares. Weiss Ratings lowered Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Zacks Research downgraded Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, May 11th. Wall Street Zen lowered Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup restated a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Finally, Truist Financial lowered their target price on Heritage Insurance from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.00.

Institutional Trading of Heritage Insurance

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position 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 valued at $55,039,000 after acquiring an additional 234,296 shares during the period. JPMorgan Chase & Co. grew its holdings in Heritage Insurance by 1,078.7% during the second quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock valued at $3,514,000 after purchasing an additional 128,927 shares during the period. Nuveen LLC increased its stake in Heritage Insurance by 181.7% in the fourth quarter. Nuveen LLC now owns 169,454 shares of the insurance provider’s stock valued at $4,958,000 after purchasing an additional 109,307 shares in the last quarter. Bank of America Corp DE increased its stake in Heritage Insurance by 92.5% in the first quarter. Bank of America Corp DE now owns 194,689 shares of the insurance provider’s stock valued at $5,111,000 after purchasing an additional 93,548 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Heritage Insurance by 39.8% in the first quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock worth $4,657,000 after purchasing an additional 91,982 shares during the period. 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.