Heritage Insurance (NYSE:HRTG) CAO Sells $221,962.65 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 6,565 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $33.81, for a total transaction of $221,962.65. Following the sale, the chief accounting officer directly owned 80,623 shares of the company’s stock, valued at approximately $2,725,863.63. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $33.91, for a total transaction 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 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 opened at $34.54 on Monday. 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 fifty-two week low of $20.48 and a fifty-two week high of $36.50. The business has a 50 day moving average price of $31.19 and a two-hundred day moving average price of $27.54. The firm has a market cap of $1.03 billion, a PE ratio of 4.92 and a beta of 0.92.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. The company had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. Sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heritage Insurance

A number of institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC lifted its position in shares of Heritage Insurance by 1.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock worth $690,000 after acquiring an additional 489 shares during the period. Royal Bank of Canada increased its position in shares of Heritage Insurance by 72.6% during the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $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 first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 546 shares in the last quarter. Graham Capital Management L.P. lifted its position in Heritage Insurance by 4.2% in the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock worth $567,000 after purchasing an additional 789 shares during the period. Finally, Advisory Services Network LLC bought a new position in Heritage Insurance in the third quarter worth $25,000. Institutional investors own 59.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HRTG shares. Piper Sandler increased 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. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded 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 company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $36.50.

About Heritage Insurance

Heritage Insurance Holdings, Inc is a property and casualty insurance company that provides residential property coverage through its insurance subsidiaries. Its products primarily include homeowners insurance and related coverage for personal and commercial residential properties, including protection against risks such as wind, fire and other property damage.

The company focuses on serving customers in catastrophe-exposed coastal markets, particularly in the Southeastern United States.