Nuveen LLC Buys Shares of 103,641 Heritage Insurance Holdings, Inc. $HRTG

Key Points

• Nuveen LLC has acquired 103,641 shares of Heritage Insurance Holdings, Inc., valued at approximately $1.495 million, representing a 0.33% stake in the company.
• Heritage Insurance received a consensus rating of "Buy" from analysts, with price targets ranging from $28.00 to $30.00, reflecting positive sentiment in the market.
• Director Paul L. Whiting recently increased his stake by purchasing 2,500 shares at $20.50 each, further solidifying insider confidence in the company's performance.

Nuveen LLC acquired a new position in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 103,641 shares of the insurance provider's stock, valued at approximately $1,495,000. Nuveen LLC owned 0.33% of Heritage Insurance as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Heritage Insurance by 8,472.2% in the first quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider's stock worth $450,000 after purchasing an additional 3,050 shares during the period. CWM LLC increased its position in Heritage Insurance by 83.7% in the first quarter. CWM LLC now owns 9,951 shares of the insurance provider's stock worth $143,000 after purchasing an additional 4,535 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Heritage Insurance in the first quarter worth about $144,000. Triumph Capital Management bought a new position in Heritage Insurance during the fourth quarter worth about $121,000. Finally, Cantor Fitzgerald L. P. bought a new position in Heritage Insurance during the fourth quarter worth about $133,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HRTG has been the topic of a number of recent analyst reports. Truist Financial raised their target price on Heritage Insurance from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Piper Sandler raised their target price on Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen cut Heritage Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Zacks Research upgraded Heritage Insurance to a "strong-buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat, Heritage Insurance currently has a consensus rating of "Buy" and an average target price of $29.00.

Heritage Insurance Stock Up 0.5%

Shares of HRTG traded up $0.13 on Thursday, hitting $24.23. The company's stock had a trading volume of 142,977 shares, compared to its average volume of 363,580. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The firm's fifty day moving average price is $21.98 and its 200-day moving average price is $19.55. Heritage Insurance Holdings, Inc. has a fifty-two week low of $8.70 and a fifty-two week high of $26.64. The firm has a market capitalization of $751.46 million, a price-to-earnings ratio of 6.98 and a beta of 1.05.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.52. Heritage Insurance had a return on equity of 33.36% and a net margin of 12.71%.The business had revenue of $208.04 million during the quarter, compared to analyst estimates of $212.12 million. On average, equities research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Activity

In other Heritage Insurance news, Director Paul L. Whiting acquired 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $20.50 per share, for a total transaction of $51,250.00. Following the transaction, the director owned 87,126 shares of the company's stock, valued at $1,786,083. This trade represents a 2.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.00% of the company's stock.

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.