Sharon Binnun Sells 9,200 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 9,200 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $26.58, for a total transaction of $244,536.00. Following the transaction, the chief accounting officer owned 105,588 shares of the company’s stock, valued at $2,806,529.04. This trade represents a 8.01% decrease in their position. The transaction 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 Monday, June 22nd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $24.36, for a total transaction 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 Price Performance

Shares of NYSE HRTG traded up $0.31 during mid-day trading on Thursday, hitting $27.12. 387,284 shares of the company’s stock traded hands, compared to its average volume of 387,377. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. Heritage Insurance Holdings, Inc. has a 1 year low of $16.83 and a 1 year high of $31.98. The company’s 50-day moving average is $24.34 and its two-hundred day moving average is $26.00. The company has a market capitalization of $823.21 million, a P/E ratio of 4.16 and a beta of 0.91.

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

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently modified their holdings of HRTG. Vanguard Group Inc. boosted its position in 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 buying an additional 234,296 shares during the period. Denali Advisors LLC bought a new position in Heritage Insurance in the 4th quarter worth about $2,490,000. American Century Companies Inc. increased its position in shares of Heritage Insurance by 11.5% during the third quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock worth $22,371,000 after acquiring an additional 91,847 shares during the period. Inspire Investing LLC purchased a new position in shares of Heritage Insurance during the first quarter worth approximately $1,547,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Heritage Insurance during the third quarter valued at approximately $699,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.