Key Points
- Heritage Insurance CAO Sharon Binnun sold 6,565 shares at an average price of $33.81, receiving $221,962.65 and reducing her direct holdings by 7.53% to 80,623 shares.
- Heritage reported quarterly EPS of $2.05, beating analyst expectations of $1.25, while revenue of $214.19 million slightly exceeded estimates. The company posted a 25.19% net margin and 42.41% return on equity.
- Analyst sentiment remains positive, with a consensus “Buy” rating and a $36.50 average price target; shares recently opened at $34.54, compared with a 52-week range of $20.48 to $36.50.
Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CAO Sharon Binnun sold 6,565 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $33.81, for a total transaction of $221,962.65. Following the completion of the transaction, the chief accounting officer directly owned 80,623 shares of the company's stock, valued at $2,725,863.63. The trade was a 7.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Sharon Binnun also recently made the following trade(s):
- On Tuesday, September 1st, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was sold at an average price of $33.91, for a total transaction of $311,972.00.
- On Monday, August 3rd, Sharon Binnun sold 9,200 shares of Heritage Insurance stock. The stock was 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 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 opened at $34.54 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 4.92 and a beta of 0.92. The company's 50 day simple moving average is $31.19 and its 200 day simple moving average is $27.51. Heritage Insurance Holdings, Inc. has a 1 year low of $20.48 and a 1 year high of $36.50.
Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.80. The firm had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. On average, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.
Hedge Funds Weigh In On Heritage Insurance
A number of hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of Heritage Insurance in the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. acquired a new stake in Heritage Insurance in the 4th quarter valued at $31,000. Royal Bank of Canada raised its position in Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 497 shares during the period. Optiver Holding B.V. lifted its stake in shares of Heritage Insurance by 510.0% during the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider's stock worth $37,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Harbour Investments Inc. acquired a new position in shares of Heritage Insurance during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 59.03% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on HRTG shares. Piper Sandler raised their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Truist Financial upped their target price on Heritage Insurance from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Heritage Insurance from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. One 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $36.50.
Check Out Our Latest Stock Analysis 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.
Featured Stories
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].
