Key Points
- Heritage Insurance CAO Sharon Binnun sold 9,200 shares on April 1 at an average price of $25.72 for $236,624 under a pre‑arranged Rule 10b5‑1 plan, reducing her stake to 133,188 shares (a 6.46% decrease); she also sold 7,893 shares on March 17 at $28.35.
- The company reported a strong quarter with EPS of $2.15 vs. $1.61 expected, a 47.28% return on equity and a 23.08% net margin, and revenue slightly above consensus.
- Shares trade in the mid‑$20s (50/200‑day MAs ≈ $26.4/$26.7) with a P/E of 4.15 and $805M market cap; analysts’ consensus target is $33.50 and institutional investors own about 59% of the stock.
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 Wednesday, April 1st. The stock was sold at an average price of $25.72, for a total value of $236,624.00. Following the completion of the sale, the chief accounting officer owned 133,188 shares in the company, 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 accessible through this link. 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 Price Performance
Shares of NYSE HRTG opened at $26.21 on Friday. The company's 50-day moving average is $26.38 and its 200 day moving average is $26.65. 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 stock has a market capitalization of $805.23 million, a P/E ratio of 4.15 and a beta of 0.95. Heritage Insurance Holdings, Inc. has a 1 year low of $13.27 and a 1 year high of $31.98.
Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its earnings results on Monday, March 9th. The insurance provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.54. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%.The firm had revenue of $215.32 million for 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 year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Heritage Insurance by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider's stock worth $55,039,000 after acquiring an additional 234,296 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Heritage Insurance by 8.7% during the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider's stock valued at $25,793,000 after acquiring an additional 82,190 shares in the last quarter. American Century Companies Inc. raised its position in shares of Heritage Insurance by 11.5% in the 3rd quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider's stock worth $22,371,000 after purchasing an additional 91,847 shares during the last quarter. Geode Capital Management LLC boosted its stake in Heritage Insurance by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 665,902 shares of the insurance provider's stock worth $19,486,000 after purchasing an additional 34,996 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Heritage Insurance by 69.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider's stock worth $13,128,000 after purchasing an additional 216,019 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company's stock.
Analysts Set New Price Targets
A number of research firms have issued reports on HRTG. Citigroup reiterated a "market perform" rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Heritage Insurance in a research report on Friday, March 27th. Zacks Research upgraded 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 company a "buy" rating in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $33.50.
Get Our Latest Report on Heritage Insurance
About Heritage Insurance
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
