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 business’s 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 in the company, 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 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 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 stock was sold at an average price of $28.99, for a total transaction of $266,708.00.

Heritage Insurance Stock Performance

Shares of NYSE:HRTG opened at $27.12 on Friday. The company has a market capitalization of $823.21 million, a price-to-earnings ratio of 4.16 and a beta of 0.88. Heritage Insurance Holdings, Inc. has a 12 month low of $16.83 and a 12 month high of $31.98. The firm’s 50-day moving average is $24.33 and its 200 day moving average is $26.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data 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). Heritage Insurance had a return on equity of 43.68% and a net margin of 23.76%.The firm had revenue of $212.66 million during the quarter, compared to the consensus estimate of $215.39 million. Research analysts predict that Heritage Insurance Holdings, Inc. will post 4.33 EPS for the current year.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of HRTG. Advisory Services Network LLC bought a new stake in Heritage Insurance during the third quarter valued at about $25,000. Mcguire Capital Advisors Inc. bought a new position in Heritage Insurance in the fourth quarter worth about $31,000. Royal Bank of Canada raised its holdings in Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 497 shares in the last quarter. Optiver Holding B.V. lifted its position in shares of Heritage Insurance by 510.0% during the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock valued at $37,000 after buying an additional 1,173 shares during the last quarter. Finally, Harbour Investments Inc. purchased a new stake in shares of Heritage Insurance during the fourth quarter valued at about $50,000. 59.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HRTG has been the subject of a number of recent analyst reports. Wall Street Zen cut Heritage Insurance from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial reduced their target price on Heritage Insurance from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Zacks Research downgraded Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a research 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 note on Monday, May 11th. Finally, Citigroup restated a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.