Heritage Insurance (NYSE:HRTG) CAO Sells $221,962.65 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 6,565 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $33.81, for a total transaction of $221,962.65. Following the completion of the transaction, the chief accounting officer owned 80,623 shares in the company, valued at approximately $2,725,863.63. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sharon Binnun also recently made the following trade(s):

• On Tuesday, September 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $33.91, for a total transaction of $311,972.00.
• On Monday, August 3rd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $30.03, for a total transaction of $276,276.00.
• 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 transaction of $244,536.00.
• On Monday, June 22nd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $24.36, for a total value of $224,112.00.

Heritage Insurance Trading Up 0.0%

Shares of NYSE HRTG traded up $0.01 during trading hours on Friday, reaching $34.54. The stock had a trading volume of 403,450 shares, compared to its average volume of 359,318. Heritage Insurance Holdings, Inc. has a 52-week low of $20.48 and a 52-week high of $36.50. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 4.92 and a beta of 0.92. The business’s fifty day moving average price is $31.04 and its two-hundred day moving average price is $27.46. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.25 by $0.80. The company had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. Analysts expect that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler lifted 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. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Truist Financial lifted their price objective on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $36.50.

Institutional Trading of Heritage Insurance

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Heritage Insurance in the 2nd quarter worth approximately $60,842,000. Vanguard Group Inc. lifted its position in Heritage Insurance by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after acquiring an additional 234,296 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Heritage Insurance by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider’s stock valued at $32,732,000 after acquiring an additional 36,879 shares in the last quarter. Marshall Wace LLP grew its holdings in Heritage Insurance by 8.7% in the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock worth $25,793,000 after purchasing an additional 82,190 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Heritage Insurance by 3,509.9% during the second quarter. California State Teachers Retirement System now owns 841,549 shares of the insurance provider’s stock worth $21,948,000 after purchasing an additional 818,237 shares in the last quarter. 59.03% of the stock is owned by hedge funds and other institutional investors.

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.