Key Points
- Heritage Insurance CAO Sharon Binnun sold 9,200 shares on July 1 at an average price of $26.58, for proceeds of about $244,536. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and her ownership fell by 8.01%.
- Binnun has also sold 9,200 shares each on June 22 and May 1, indicating a pattern of insider selling over recent months.
- Heritage Insurance recently missed earnings estimates, reporting $1.19 EPS versus the expected $1.53, while analysts currently have a Hold consensus on the stock with an average target price of $36.00.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CAO Sharon Binnun sold 9,200 shares of Heritage Insurance stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $26.58, for a total value of $244,536.00. Following the transaction, the chief accounting officer owned 105,588 shares in the company, valued at approximately $2,806,529.04. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sharon Binnun also recently made the following trade(s):
- On Monday, June 22nd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $24.36, for a total value of $224,112.00.
- 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 value of $266,708.00.
Heritage Insurance Price Performance
NYSE HRTG opened at $27.12 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $823.21 million, a price-to-earnings ratio of 4.16 and a beta of 0.88. The business has a 50 day simple moving average of $24.34 and a 200 day simple moving average of $25.99. Heritage Insurance Holdings, Inc. has a 52-week low of $16.83 and a 52-week high of $31.98.
Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.53 by ($0.34). The company had revenue of $212.66 million during the quarter, compared to the consensus estimate of $215.39 million. Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. Analysts anticipate that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of Heritage Insurance from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, May 11th. Wall Street Zen downgraded Heritage Insurance from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Truist Financial cut their price target on Heritage Insurance from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Monday, May 11th. Weiss Ratings cut Heritage Insurance from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Finally, Citigroup reiterated a "market perform" rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $36.00.
View Our Latest Report on HRTG
Institutional Investors Weigh In On Heritage Insurance
Several large investors have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC raised its holdings in Heritage Insurance by 1.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider's stock valued at $690,000 after acquiring an additional 489 shares during the period. Royal Bank of Canada boosted its holdings in shares of Heritage Insurance by 72.6% during 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 during the period. Tudor Investment Corp ET AL boosted its holdings in shares of Heritage Insurance by 0.3% during the third quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider's stock worth $4,693,000 after acquiring an additional 503 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock valued at $196,000 after purchasing an additional 546 shares during the last quarter. Finally, Graham Capital Management L.P. grew its position in shares of Heritage Insurance by 4.2% in the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider's stock valued at $567,000 after purchasing an additional 789 shares during the last quarter. 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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