Key Points
- Insider sale: CAO Sharon Binnun sold 7,893 shares on March 17 at an average price of $28.35 for proceeds of $223,766.55, reducing her stake by 5.25% to 142,388 shares (valued at about $4.04M).
- Strong quarterly results: Heritage reported adjusted EPS of $2.15 versus the $1.61 consensus and revenue of $215.32M, with a net margin of 23.08% and ROE of 47.28%.
- Market and analyst view: The stock carries an average analyst rating of "Buy" with a $33.50 target, a market cap of ~$812M and a low P/E of 4.18; the 12‑month range is $13.27–$31.98.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CAO Sharon Binnun sold 7,893 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $28.35, for a total transaction of $223,766.55. Following the sale, the chief accounting officer owned 142,388 shares of the company's stock, valued at $4,036,699.80. This represents a 5.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Heritage Insurance Trading Down 0.7%
NYSE HRTG opened at $26.43 on Friday. The firm's fifty day moving average price is $26.34 and its 200 day moving average price is $26.46. Heritage Insurance Holdings, Inc. has a 12 month low of $13.27 and a 12 month high of $31.98. 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 company has a market capitalization of $811.84 million, a price-to-earnings ratio of 4.18 and a beta of 0.95.
Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.54. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. The company had revenue of $215.32 million during the quarter, compared to the consensus estimate of $212.60 million. On average, sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on HRTG. Citigroup reissued 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 research report on Monday, December 29th. Zacks Research raised shares of Heritage Insurance from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 11th. Finally, Truist Financial raised their price target on Heritage Insurance from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $33.50.
Read Our Latest Stock Report on HRTG
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of HRTG. Caitong International Asset Management Co. Ltd lifted its holdings in Heritage Insurance by 3,774.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,906 shares of the insurance provider's stock valued at $85,000 after acquiring an additional 2,831 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in shares of Heritage Insurance during the 4th quarter worth $31,000. Invesco Ltd. increased its holdings in shares of Heritage Insurance by 49.7% in the 4th quarter. Invesco Ltd. now owns 77,421 shares of the insurance provider's stock valued at $2,265,000 after purchasing an additional 25,711 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Heritage Insurance in the fourth quarter valued at about $230,000. Finally, Empowered Funds LLC lifted its stake in shares of Heritage Insurance by 6.3% in the fourth quarter. Empowered Funds LLC now owns 152,254 shares of the insurance provider's stock valued at $4,455,000 after purchasing an additional 9,090 shares during the period. Institutional investors and hedge funds own 59.03% of the company's stock.
Heritage Insurance Company Profile
(
Get Free Report)
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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