Key Points
- Heritage Insurance CAO Sharon Binnun sold 9,200 shares at an average price of $33.91, generating $311,972. The sale was conducted under a pre-arranged Rule 10b5-1 plan and reduced her holdings by 9.54% to 87,188 shares.
- Heritage reported quarterly EPS of $2.05, surpassing analysts’ $1.25 estimate, while revenue of $214.19 million was slightly above expectations. Analysts forecast full-year EPS of $5.50.
- The stock opened at $34.92, near its 52-week high of $36.50, and analysts maintain a consensus “Buy” rating with a $36.50 price target; institutional investors own 59.03% of outstanding shares.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CAO Sharon Binnun sold 9,200 shares of Heritage Insurance stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $33.91, for a total value of $311,972.00. Following the sale, the chief accounting officer directly owned 87,188 shares of the company's stock, valued at $2,956,545.08. This represents a 9.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sharon Binnun also recently made the following trade(s):
- On Monday, August 3rd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were sold at an average price of $30.03, for a total transaction of $276,276.00.
- On Wednesday, July 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The shares were 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 stock was sold at an average price of $24.36, for a total transaction of $224,112.00.
Heritage Insurance Price Performance
Shares of Heritage Insurance stock opened at $34.92 on Friday. Heritage Insurance Holdings, Inc. has a twelve month low of $20.48 and a twelve month high of $36.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $30.27 and a two-hundred day simple moving average of $27.12. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 4.97 and a beta of 0.92.
Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.80. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. The firm had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. Analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.
Institutional Trading of Heritage Insurance
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Corient Private Wealth LP acquired a new stake in shares of Heritage Insurance during the 2nd quarter worth approximately $1,091,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Heritage Insurance in the second quarter valued at approximately $960,000. California State Teachers Retirement System raised its position in Heritage Insurance by 3,509.9% during the second quarter. California State Teachers Retirement System now owns 841,549 shares of the insurance provider's stock valued at $21,948,000 after purchasing an additional 818,237 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Heritage Insurance during the second quarter valued at approximately $272,000. Finally, Empowered Funds LLC bought a new stake in Heritage Insurance during the second quarter worth $4,230,000. Institutional investors own 59.03% of the company's stock.
Analyst Ratings Changes
HRTG has been the topic of a number of recent research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Heritage Insurance in a research note on Friday, August 7th. Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Piper Sandler upped their target price on Heritage Insurance from $27.00 to $31.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Truist Financial increased their target price on Heritage Insurance from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $36.50.
Check Out Our Latest Research 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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