Heritage Insurance (NYSE:HRTG) CAO Sells 7,893 Shares
by Sarita Garza · The Markets DailyHeritage Insurance Holdings, Inc. (NYSE:HRTG – Get Free Report) CAO Sharon Binnun sold 7,893 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $28.35, for a total transaction of $223,766.55. Following the transaction, the chief accounting officer owned 142,388 shares in the company, valued at approximately $4,036,699.80. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Heritage Insurance Stock Down 2.0%
Shares of NYSE:HRTG traded down $0.56 during trading hours on Thursday, hitting $26.73. The company’s stock had a trading volume of 377,789 shares, compared to its average volume of 331,671. The firm’s fifty day moving average price is $26.35 and its 200 day moving average price is $26.46. Heritage Insurance Holdings, Inc. has a 52 week low of $13.27 and a 52 week high of $31.98. The company has a market capitalization of $820.99 million, a price-to-earnings ratio of 4.23 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.
Heritage Insurance (NYSE:HRTG – Get Free Report) last released its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.54. The firm had revenue of $215.32 million for the quarter, compared to the consensus estimate of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. As a group, research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on HRTG shares. Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Weiss Ratings restated a “buy (b)” rating on shares of Heritage Insurance in a research note on Monday, December 29th. Truist Financial lifted their target price on Heritage Insurance from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.50.
Check Out Our Latest Analysis on HRTG
Institutional Trading of Heritage Insurance
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of Heritage Insurance by 72.6% in the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 497 shares in the last quarter. Tudor Investment Corp ET AL increased its position in Heritage Insurance by 0.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 186,380 shares of the insurance provider’s stock valued at $4,693,000 after buying an additional 503 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after buying an additional 546 shares during the last quarter. Graham Capital Management L.P. raised its stake in Heritage Insurance by 4.2% in the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider’s stock valued at $567,000 after buying an additional 789 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Heritage Insurance in the third quarter worth about $25,000. Hedge funds and other institutional investors own 59.03% of the company’s stock.
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.