Heritage Insurance (NYSE:HRTG) CAO Sells $311,972.00 in Stock

Key Points

• Heritage Insurance CAO Sharon Binnun sold 9,200 shares for $311,972 at an average price of $33.91, reducing her ownership by 9.54%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Heritage shares traded at $34.92, near their 52-week high of $36.50. The company recently reported quarterly EPS of $2.05, exceeding the $1.25 analyst consensus, while revenue also topped estimates.
• Analysts maintain a broadly positive view, with the stock carrying a consensus “Buy” rating and a $36.50 price target. Institutional investors own approximately 59.03% of the company.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CAO Sharon Binnun sold 9,200 shares of Heritage Insurance stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $33.91, for a total transaction of $311,972.00. Following the completion of the sale, the chief accounting officer owned 87,188 shares of the company's stock, valued at $2,956,545.08. This trade represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 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 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 HRTG stock traded up $0.57 during mid-day trading on Thursday, reaching $34.92. The stock had a trading volume of 205,543 shares, compared to its average volume of 361,852. Heritage Insurance Holdings, Inc. has a 1-year low of $20.48 and a 1-year high of $36.50. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 4.97 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. The business's fifty day moving average is $30.06 and its 200-day moving average is $27.05.

Heritage Insurance (NYSE:HRTG - Get Free Report) last released its 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. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The firm had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HRTG shares. Truist Financial upped their price target 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. Wall Street Zen raised Heritage Insurance from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Piper Sandler raised their target price on Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Heritage Insurance in a research report on Friday, August 7th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $36.50.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC purchased a new position in Heritage Insurance during the third quarter worth approximately $25,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Heritage Insurance during the 4th quarter worth approximately $31,000. Royal Bank of Canada grew its stake in Heritage Insurance by 72.6% in the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 497 shares during the period. Optiver Holding B.V. increased its holdings in Heritage Insurance by 510.0% in the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider's stock worth $37,000 after acquiring an additional 1,173 shares in the last quarter. Finally, Harbour Investments Inc. purchased a new stake in Heritage Insurance in the 4th quarter worth $50,000. Hedge funds and other institutional investors own 59.03% of the company's stock.

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.

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