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 dated Wednesday, April 1st. The stock was sold at an average price of $25.72, for a total transaction of $236,624.00. Following the completion of the transaction, the chief accounting officer directly owned 133,188 shares of the company’s stock, valued at approximately $3,425,595.36. This represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, March 17th, Sharon Binnun sold 7,893 shares of Heritage Insurance stock. The shares were sold at an average price of $28.35, for a total transaction of $223,766.55.

Heritage Insurance Stock Performance

Shares of Heritage Insurance stock opened at $26.21 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $805.23 million, a P/E ratio of 4.15 and a beta of 0.95. The firm has a 50 day simple moving average of $26.38 and a 200 day simple moving average of $26.66. Heritage Insurance Holdings, Inc. has a fifty-two week low of $13.27 and a fifty-two week high of $31.98.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.54. The firm had revenue of $215.32 million for the quarter, compared to the consensus estimate of $212.60 million. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%. Sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on HRTG shares. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a report on Friday, March 27th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Finally, Truist Financial lifted their price target on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $33.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HRTG. Advisory Services Network LLC bought a new position in shares of Heritage Insurance in the 3rd quarter worth $25,000. Financial Management Professionals Inc. bought a new stake in Heritage Insurance in the third quarter valued at about $26,000. Mcguire Capital Advisors Inc. acquired a new position in Heritage Insurance in the fourth quarter valued at about $31,000. Royal Bank of Canada lifted its stake 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 valued at $35,000 after buying an additional 497 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Heritage Insurance during the third quarter worth about $36,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.