Heritage Insurance (NYSE:HRTG) CAO Sells 9,200 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 9,200 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.03, for a total transaction of $276,276.00. Following the transaction, the chief accounting officer directly owned 96,388 shares of the company’s stock, valued at approximately $2,894,531.64. This represents a 8.71% decrease in their position. The transaction was disclosed in a legal filing 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 Wednesday, July 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were 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 stock was sold at an average price of $24.36, for a total value of $224,112.00.

Heritage Insurance Stock Performance

Shares of NYSE HRTG traded up $0.43 during trading hours on Wednesday, hitting $30.23. 283,266 shares of the company’s stock were exchanged, compared to its average volume of 370,031. Heritage Insurance Holdings, Inc. has a 1-year low of $16.83 and a 1-year high of $31.98. 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 stock has a market capitalization of $917.57 million, a price-to-earnings ratio of 4.64 and a beta of 0.89. The company’s 50-day moving average price is $25.42 and its 200-day moving average price is $25.92.

Heritage Insurance (NYSE:HRTG) last released 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 firm 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 43.68% and a net margin of 23.76%. On average, sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after acquiring an additional 546 shares in the last quarter. Millennium Management LLC raised its position in shares of Heritage Insurance by 39.8% during the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock valued at $4,657,000 after acquiring an additional 91,982 shares during the last quarter. Empowered Funds LLC raised its position in shares of Heritage Insurance by 8.4% during the 1st quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock valued at $1,800,000 after acquiring an additional 9,728 shares during the last quarter. Strs Ohio acquired a new position in shares of Heritage Insurance in the 1st quarter valued at $127,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Heritage Insurance by 1,078.7% in the 2nd 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. Institutional investors own 59.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HRTG. Piper Sandler boosted their target price on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Truist Financial reduced their price target on shares of Heritage Insurance from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, May 11th. Weiss Ratings lowered shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

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.