Key Points
- Heritage Insurance CAO Sharon Binnun sold 9,200 shares on June 22 at an average price of $24.36, for proceeds of about $224,112. The sale was made under a pre-arranged Rule 10b5-1 plan.
- After the transaction, Binnun still owned 114,788 shares valued at roughly $2.8 million, and her stake fell by 7.42%. This follows similar insider sales in April and May.
- The stock recently traded around $25.55, while Heritage reported Q1 earnings of $1.19 per share, missing estimates, and analysts currently have an average Hold rating with a $36 target price.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CAO Sharon Binnun sold 9,200 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $24.36, for a total transaction of $224,112.00. Following the sale, the chief accounting officer directly owned 114,788 shares of the company's stock, valued at approximately $2,796,235.68. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, May 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $28.99, for a total transaction of $266,708.00.
- On Wednesday, April 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $25.72, for a total transaction of $236,624.00.
Heritage Insurance Price Performance
NYSE HRTG opened at $25.55 on Thursday. The stock has a market capitalization of $775.47 million, a P/E ratio of 3.92 and a beta of 0.91. Heritage Insurance Holdings, Inc. has a 1 year low of $16.83 and a 1 year high of $31.98. The business's fifty day moving average is $24.45 and its two-hundred day moving average is $26.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80.
Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.34). The company had revenue of $212.66 million for the quarter, compared to the consensus estimate of $215.39 million. Heritage Insurance had a return on equity of 43.68% and a net margin of 23.76%. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Heritage Insurance
Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Heritage Insurance by 14.2% during the 4th 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 during the period. JPMorgan Chase & Co. increased its holdings in shares of Heritage Insurance by 1,078.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider's stock valued at $3,514,000 after purchasing an additional 128,927 shares during the period. Nuveen LLC lifted its position in shares of Heritage Insurance by 181.7% in the fourth quarter. Nuveen LLC now owns 169,454 shares of the insurance provider's stock worth $4,958,000 after purchasing an additional 109,307 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of Heritage Insurance by 27.2% in the third quarter. Pacific Ridge Capital Partners LLC now owns 458,929 shares of the insurance provider's stock worth $11,556,000 after purchasing an additional 98,246 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Heritage Insurance by 92.5% during the first quarter. Bank of America Corp DE now owns 194,689 shares of the insurance provider's stock worth $5,111,000 after purchasing an additional 93,548 shares during the period. 59.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. Zacks Research lowered Heritage Insurance from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, May 11th. Citigroup restated a "market perform" rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Wall Street Zen lowered shares of Heritage Insurance from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Heritage Insurance from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Finally, Truist Financial dropped their target price on shares of Heritage Insurance from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $36.00.
Get Our Latest Analysis on Heritage Insurance
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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