92,849 Shares in Heritage Insurance Holdings, Inc. (NYSE:HRTG) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 92,849 shares of the insurance provider's stock, valued at approximately $1,123,000. Raymond James Financial Inc. owned approximately 0.30% of Heritage Insurance as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRTG. Martingale Asset Management L P bought a new stake in Heritage Insurance during the 4th quarter worth approximately $474,000. Invesco Ltd. grew its position in shares of Heritage Insurance by 24.0% during the 4th quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock valued at $11,430,000 after purchasing an additional 182,624 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Heritage Insurance by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider's stock worth $162,000 after purchasing an additional 2,058 shares during the period. Trexquant Investment LP raised its position in shares of Heritage Insurance by 3.0% in the fourth quarter. Trexquant Investment LP now owns 146,569 shares of the insurance provider's stock worth $1,773,000 after buying an additional 4,224 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Heritage Insurance by 207.7% during the fourth quarter. Franklin Resources Inc. now owns 41,121 shares of the insurance provider's stock valued at $498,000 after buying an additional 27,759 shares during the period. 59.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HRTG has been the topic of several recent analyst reports. StockNews.com cut Heritage Insurance from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. Piper Sandler lifted their target price on shares of Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Truist Financial increased their price target on shares of Heritage Insurance from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday.

Insider Activity

In related news, CEO Ernie J. Garateix purchased 5,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now directly owns 1,270,808 shares in the company, valued at $16,228,218.16. The trade was a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul L. Whiting purchased 10,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $13.35 per share, for a total transaction of $133,500.00. Following the completion of the purchase, the director now directly owns 79,576 shares in the company, valued at approximately $1,062,339.60. This trade represents a 14.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 21,000 shares of company stock valued at $280,450. Corporate insiders own 15.20% of the company's stock.

Heritage Insurance Price Performance

HRTG stock traded up $0.36 during mid-day trading on Friday, hitting $26.02. 719,217 shares of the stock were exchanged, compared to its average volume of 386,473. The business has a fifty day moving average price of $16.24 and a 200 day moving average price of $13.29. Heritage Insurance Holdings, Inc. has a 12 month low of $6.14 and a 12 month high of $26.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $806.44 million, a price-to-earnings ratio of 10.41 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.53. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The company had revenue of $211.52 million during the quarter, compared to the consensus estimate of $213.68 million. On average, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential 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 residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.