Insider Selling: Heritage Insurance (NYSE:HRTG) CAO Sells $244,536.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) 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 completion of the sale, the chief accounting officer directly owned 105,588 shares of the company’s stock, valued at approximately $2,806,529.04. This trade represents a 8.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction 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 transaction of $266,708.00.

Heritage Insurance Price Performance

HRTG opened at $27.12 on Friday. The company has a market capitalization of $823.21 million, a price-to-earnings ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $24.33 and a 200-day moving average price of $26.00. Heritage Insurance Holdings, Inc. has a twelve month low of $16.83 and a twelve month high of $31.98.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.34). The business 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%. Equities analysts expect that Heritage Insurance Holdings, Inc. will post 4.33 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HRTG. Kestra Private Wealth Services LLC raised its position in shares of Heritage Insurance by 1.9% in the first quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock worth $690,000 after buying an additional 489 shares in the last quarter. Royal Bank of Canada grew its position in 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 buying an additional 497 shares in the last quarter. Tudor Investment Corp ET AL grew its position in 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 buying an additional 503 shares in the last quarter. 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. Finally, Graham Capital Management L.P. increased its stake in Heritage Insurance by 4.2% in the 4th quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock worth $567,000 after acquiring an additional 789 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HRTG shares. Wall Street Zen lowered Heritage Insurance from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial decreased their price objective on Heritage Insurance from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Zacks Research downgraded Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a research note 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, Citigroup reaffirmed a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.00.

Heritage Insurance Company Profile

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.