Key Points
- Heritage Insurance CAO Sharon Binnun sold 9,200 shares at an average price of $30.03, generating $276,276. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced her holdings by 8.71% to 96,388 shares.
- Heritage reported quarterly EPS of $2.05, beating the $1.25 consensus estimate, while revenue of $214.19 million slightly exceeded expectations. The company posted a 23.76% net margin and 43.68% return on equity.
- HRTG opened at $30.23 and has a consensus analyst rating of “Moderate Buy” with a $33.50 price target. Institutional investors own 59.03% of the stock, with JPMorgan recently increasing its position substantially.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CAO Sharon Binnun sold 9,200 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $30.03, for a total transaction of $276,276.00. Following the transaction, the chief accounting officer owned 96,388 shares of the company's stock, valued at $2,894,531.64. This represents a 8.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Wednesday, July 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $26.58, for a total transaction of $244,536.00.
- 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 transaction of $224,112.00.
Heritage Insurance Stock Performance
Shares of HRTG stock opened at $30.23 on Thursday. The stock has a market capitalization of $917.57 million, a P/E ratio of 4.64 and a beta of 0.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm's 50 day moving average is $25.59 and its 200 day moving average is $25.95. Heritage Insurance Holdings, Inc. has a 12 month low of $16.83 and a 12 month high of $31.98.
Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.25 by $0.80. Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. The company had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. On average, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current year.
Institutional Investors Weigh In On Heritage Insurance
Several large investors have recently added to or reduced their stakes in HRTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock worth $196,000 after acquiring an additional 546 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Heritage Insurance by 39.8% in the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider's stock valued at $4,657,000 after acquiring an additional 91,982 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Heritage Insurance by 8.4% during the 1st quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider's stock valued at $1,800,000 after acquiring an additional 9,728 shares during the last quarter. Strs Ohio bought a new stake in shares of Heritage Insurance during the 1st quarter valued at about $127,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Heritage Insurance by 1,078.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider's stock valued at $3,514,000 after acquiring an additional 128,927 shares during the last quarter. Institutional investors own 59.03% of the company's stock.
Wall Street Analysts Forecast Growth
HRTG has been the subject of a number of analyst reports. Zacks Research raised Heritage Insurance from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. Piper Sandler boosted their price objective on Heritage Insurance from $27.00 to $31.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Truist Financial dropped their price objective 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 downgraded Heritage Insurance from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Heritage Insurance from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Heritage Insurance presently has an average rating of "Moderate Buy" and a consensus target price of $33.50.
View Our Latest Report on HRTG
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.
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