Heritage Insurance (NYSE:HRTG) CAO Sharon Binnun Sells 7,893 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 7,893 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $28.35, for a total transaction of $223,766.55. Following the transaction, the chief accounting officer directly owned 142,388 shares in the company, valued at approximately $4,036,699.80. The trade was a 5.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Heritage Insurance Stock Performance

Heritage Insurance stock opened at $26.43 on Friday. The firm has a 50 day simple moving average of $26.34 and a 200-day simple moving average of $26.46. The stock has a market cap of $811.84 million, a price-to-earnings ratio of 4.18 and a beta of 0.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. Heritage Insurance Holdings, Inc. has a 1-year low of $13.27 and a 1-year high of $31.98.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.54. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%.The company had revenue of $215.32 million during the quarter, compared to analyst estimates of $212.60 million. On average, analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Institutional Investors Weigh In On Heritage Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of HRTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 buying an additional 546 shares in the last quarter. Millennium Management LLC boosted 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 worth $4,657,000 after acquiring an additional 91,982 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Heritage Insurance by 8.4% in 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 purchased a new position in shares of Heritage Insurance in the 1st quarter valued at about $127,000. Finally, Savant Capital LLC acquired a new stake in shares of Heritage Insurance during the 2nd quarter worth about $263,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Heritage Insurance from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Citigroup restated a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Heritage Insurance has an average rating of “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.