Heritage Insurance (NYSE:HRTG) CAO Sells 9,200 Shares of 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 shares were sold at an average price of $24.36, for a total value of $224,112.00. Following the sale, the chief accounting officer owned 114,788 shares in the company, valued at $2,796,235.68. The trade was a 7.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 2.4%

NYSE:HRTG traded up $0.60 during mid-day trading on Wednesday, hitting $25.55. 580,159 shares of the stock traded hands, compared to its average volume of 376,109. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Heritage Insurance Holdings, Inc. has a 52 week low of $16.83 and a 52 week high of $31.98. The stock has a market capitalization of $775.47 million, a price-to-earnings ratio of 3.92 and a beta of 0.91. The firm’s 50 day moving average is $24.47 and its two-hundred day moving average is $26.09.

Heritage Insurance (NYSE:HRTG) last announced its 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 business had revenue of $212.66 million for the quarter, compared to analysts’ expectations of $215.39 million. Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. On average, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, May 11th. Weiss Ratings lowered shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Citigroup reissued a “market perform” rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Truist Financial dropped their target price on shares of Heritage Insurance from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Wall Street Zen lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Hedge Funds Weigh In On Heritage Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Heritage Insurance by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after purchasing an additional 234,296 shares during the period. Pacific Ridge Capital Partners LLC lifted its position in shares of Heritage Insurance by 27.2% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 458,929 shares of the insurance provider’s stock worth $11,556,000 after purchasing an additional 98,246 shares during the period. Sierra Summit Advisors LLC bought a new position in shares of Heritage Insurance during the third quarter valued at approximately $960,000. Denali Advisors LLC bought a new position in shares of Heritage Insurance during the fourth quarter valued at approximately $2,490,000. Finally, American Century Companies Inc. increased its holdings in Heritage Insurance by 11.5% during the third quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock valued at $22,371,000 after buying an additional 91,847 shares during the period. 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.