Insider Selling: Heritage Insurance (NYSE:HRTG) CAO Sells $224,112.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 9,200 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $24.36, for a total transaction of $224,112.00. Following the transaction, the chief accounting officer owned 114,788 shares in the company, valued at approximately $2,796,235.68. This trade represents a 7.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• 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.

Heritage Insurance Trading Up 6.0%

Heritage Insurance stock opened at $25.80 on Friday. 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 price is $24.39 and its two-hundred day moving average price is $26.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $783.00 million, a price-to-earnings ratio of 3.96 and a beta of 0.91.

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

Analyst Upgrades and Downgrades

HRTG has been the topic of a number of recent analyst reports. Zacks Research lowered Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, May 11th. Citigroup restated a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Wall Street Zen downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Truist Financial reduced their target price on shares of 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new position in Heritage Insurance in the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. acquired a new position in Heritage Insurance during the 4th quarter worth about $31,000. Royal Bank of Canada grew its holdings in Heritage Insurance by 72.6% during the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 497 shares during the last quarter. Optiver Holding B.V. grew its holdings in Heritage Insurance by 510.0% during the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Harbour Investments Inc. acquired a new stake in Heritage Insurance in the 4th quarter valued at about $50,000. Institutional investors own 59.03% of the company’s stock.

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.