Vanguard Group Inc. reduced its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG – Free Report) by 15.1% during the first quarter, according to the company’s most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,096,035 shares of the insurance provider after selling 194,675 shares during the period. Vanguard Group Inc. owned approximately 3.58% of Heritage Insurance worth $11,673,000, according to its most recent filing with the Securities and Exchange Commission (SEC).
Other major investors have also changed their hold on the company. Tower Research Capital LLC TRC acquired a new stake in Heritage Insurance in the fourth quarter valued at about $40,000. Fortis Capital Advisors LLC acquired a new stake in Heritage Insurance in the first quarter valued at $134,000. Susquehanna Fundamental Investments LLC acquired a new stake in Heritage Insurance in the first quarter valued at $155,000. Victory Capital Management Inc. increased its stake in Heritage Insurance by 13.0% in the fourth quarter. Victory Capital Management Inc. now owns 104,000 shares of the insurance provider’s stock valued at $678,000 after acquiring an additional 12,000 shares during the same period. Finally, Empowered Funds LLC increased its stake in Heritage Insurance by 8.1% in the first quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider’s stock valued at $1,030,000 after purchasing an additional 7,203 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.
Heritage Insurance increases by 11.9%
Shares of NYSE HRTG opened at $12.04 on Wednesday. Heritage Insurance Holdings, Inc. has a 1-year low of $4.28 and a 1-year high of $12.12. The stock has a market cap of $368.86 million, a P/E ratio of 7.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. The company has a 50-day moving average price of $7.58 and a 200-day moving average price of $8.10.
Heritage Insurance (NYSE:HRTG – Get Free Report) last released its quarterly earnings results on Tuesday, August 6. The insurer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.23. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. The company had revenue of $203.57 million for the quarter, compared to the consensus estimate of $196.81 million. During the same period last year, the company reported earnings per share of $0.32. Equities analysts expect Heritage Insurance Holdings, Inc. to report earnings per share of $1.45 for the current fiscal year.
Wall Street analysts comment
Several brokerage firms have recently commented on HRTG. Truist Financial raised their price target on shares of Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Piper Sandler upgraded Heritage Insurance from “neutral” to “overweight” in a report on Friday, August 9th and increased their price target for the company from $9.00 to $13.00. Finally, StockNews.com upgraded Heritage Insurance from “hold” to “buy” in a report on Thursday, August 8th. One investment analyst has rated the stock with a “hold” rating and three have given the stock a “buy” rating. The company currently has an average rating of “moderate buy” and an average price target of $10.67, according to data from MarketBeat.com.
Get our latest analysis on HRTG
Insider activities at Heritage Insurance
In other news, Director Paul L. Whiting bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28. The shares were acquired at an average price of $7.74 per share, for a total transaction of $38,700.00. Following the completion of the transaction, the director now directly owns 64,662 shares of the company’s stock, valued at approximately $500,483.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC’s website. 14.00% of the shares are owned by company insiders.
Heritage Insurance Company Profile
(Free report)
Heritage Insurance Holdings, Inc., through its subsidiaries, offers personal and commercial homeowners insurance products. The company offers personal homeowners insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina and Virginia; commercial homeowners insurance for properties in Florida, New Jersey and New York; and is licensed in the state of Pennsylvania. In addition, the company offers personal homeowners and wind-only insurance.
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