Heritage Insurance (NYSE:HRTG) CAO Sells $276,276.00 in Stock

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

Heritage Insurance Trading Down 7.1%

Shares of HRTG opened at $32.71 on Friday. Heritage Insurance Holdings, Inc. has a 1-year low of $20.29 and a 1-year high of $36.50. The company has a market capitalization of $992.75 million, a P/E ratio of 4.66 and a beta of 0.89. 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 firm’s 50 day simple moving average is $26.07 and its 200 day simple moving average is $26.06.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.80. The business had revenue of $214.19 million during the quarter, compared to analysts’ expectations of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 44.15%. Sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heritage Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC grew its position in shares of Heritage Insurance by 1.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock worth $690,000 after buying an additional 489 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Heritage Insurance by 72.6% during the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $35,000 after buying an additional 497 shares during the period. Tudor Investment Corp ET AL raised its holdings in shares of Heritage Insurance by 0.3% during the third quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock valued at $4,693,000 after acquiring an additional 503 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Heritage Insurance by 4.2% during 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 acquiring an additional 546 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its stake in Heritage Insurance by 4.2% in the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock worth $567,000 after acquiring an additional 789 shares during the period. 59.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HRTG has been the subject of several research reports. Wall Street Zen lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research raised Heritage Insurance from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Truist Financial upped their price objective on Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings lowered Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Piper Sandler raised their price objective on Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.50.

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.