Heritage Insurance (NYSE:HRTG) CAO Sharon Binnun Sells 6,565 Shares

Key Points

• Heritage Insurance CAO Sharon Binnun sold 6,565 shares at an average price of $33.81, generating $221,962.65 and reducing her direct holdings by 7.53% to 80,623 shares.
• Heritage Insurance reported quarterly earnings of $2.05 per share, beating estimates of $1.25, while revenue of $214.19 million also exceeded expectations.
• Analysts maintain a generally positive outlook, with the stock holding an average “Buy” rating and an average price target of $36.50; shares recently traded at $34.54.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CAO Sharon Binnun sold 6,565 shares of Heritage Insurance stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $33.81, for a total transaction of $221,962.65. Following the transaction, the chief accounting officer directly owned 80,623 shares in the company, valued at $2,725,863.63. This represents a 7.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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 shares were 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 stock was 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 stock was sold at an average price of $24.36, for a total value of $224,112.00.

Heritage Insurance Price Performance

NYSE:HRTG traded up $0.01 on Friday, reaching $34.54. 403,450 shares of the company's stock traded hands, compared to its average volume of 359,318. The stock has a 50-day simple moving average of $31.04 and a 200-day simple moving average of $27.46. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50. The firm has a market cap of $1.03 billion, a PE ratio of 4.92 and a beta of 0.92. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.80. The firm had revenue of $214.19 million during the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. Equities research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current year.

Hedge Funds Weigh In On Heritage Insurance

Several institutional investors have recently bought and sold shares of HRTG. Kestra Private Wealth Services LLC raised its position in shares of Heritage Insurance by 1.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider's stock valued at $690,000 after buying an additional 489 shares in the last quarter. Royal Bank of Canada grew its position 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 acquiring an additional 497 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 worth $196,000 after acquiring an additional 546 shares during the last quarter. Graham Capital Management L.P. increased its stake in Heritage Insurance by 4.2% during 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 last quarter. Finally, Advisory Services Network LLC purchased a new stake in Heritage Insurance during the third quarter valued at approximately $25,000. Institutional investors own 59.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HRTG. Wall Street Zen raised shares of Heritage Insurance from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research upgraded shares of Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Truist Financial raised their target price on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised shares of Heritage Insurance from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. 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 research report on Wednesday, July 15th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $36.50.

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.

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