Heritage Insurance (NYSE:HRTG) CAO Sells $223,766.55 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CAO Sharon Binnun sold 7,893 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $28.35, for a total value of $223,766.55. Following the sale, the chief accounting officer directly owned 142,388 shares in the company, valued at approximately $4,036,699.80. The trade was a 5.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Heritage Insurance Price Performance

HRTG opened at $25.63 on Friday. The firm has a market capitalization of $787.42 million, a PE ratio of 4.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average is $26.32 and its two-hundred day moving average is $26.50. Heritage Insurance Holdings, Inc. has a 1 year low of $13.27 and a 1 year high of $31.98.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Monday, March 9th. The insurance provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.61 by $0.54. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. The business had revenue of $215.32 million during the quarter, compared to analyst estimates of $212.60 million. Research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HRTG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a research report on Monday, December 29th. Truist Financial upped their price target on Heritage Insurance from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Finally, Citigroup reissued a “market perform” rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Heritage Insurance currently has a consensus rating of “Buy” and a consensus price target of $33.50.

Institutional Trading of Heritage Insurance

Several large investors have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of Heritage Insurance during the third quarter valued at $984,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Heritage Insurance by 514.4% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 76,798 shares of the insurance provider’s stock valued at $1,934,000 after purchasing an additional 64,298 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Heritage Insurance by 69.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock valued at $13,128,000 after purchasing an additional 216,019 shares during the period. Principal Financial Group Inc. raised its stake in shares of Heritage Insurance by 201.7% in the third quarter. Principal Financial Group Inc. now owns 64,490 shares of the insurance provider’s stock worth $1,624,000 after purchasing an additional 43,113 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Heritage Insurance by 829.3% during the second quarter. Russell Investments Group Ltd. now owns 125,828 shares of the insurance provider’s stock worth $3,138,000 after purchasing an additional 112,288 shares during the period. Hedge funds and other institutional investors own 59.03% of the company’s stock.

About Heritage Insurance

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.