119,770 Shares in Heritage Insurance Holdings, Inc. (NYSE:HRTG) Acquired by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors acquired 119,770 shares in Heritage Insurance Holdings, Inc. valued at approximately $1,727,000, representing 0.39% ownership of the company.
• Heritage Insurance reported an earnings per share (EPS) of $0.99 for the recent quarter, significantly exceeding the consensus estimate of $0.46.
• A number of analysts have upgraded their ratings on Heritage Insurance, with Truist Financial increasing their price target from $20.00 to $30.00.

Arkadios Wealth Advisors acquired a new stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 119,770 shares of the insurance provider's stock, valued at approximately $1,727,000. Arkadios Wealth Advisors owned about 0.39% of Heritage Insurance as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Heritage Insurance by 8,472.2% during the 1st quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider's stock valued at $450,000 after purchasing an additional 3,050 shares during the period. CWM LLC boosted its holdings 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 in the last quarter. Triumph Capital Management bought a new stake in Heritage Insurance in the fourth quarter worth $121,000. Cantor Fitzgerald L. P. bought a new stake in Heritage Insurance during the fourth quarter valued at about $133,000. Finally, Aquatic Capital Management LLC bought a new stake in Heritage Insurance during the fourth quarter valued at about $150,000. Institutional investors and hedge funds own 59.03% of the company's stock.

Heritage Insurance Price Performance

HRTG opened at $21.09 on Friday. Heritage Insurance Holdings, Inc. has a one year low of $6.81 and a one year high of $26.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The company's 50 day simple moving average is $22.75 and its 200-day simple moving average is $17.82. The stock has a market capitalization of $653.49 million, a P/E ratio of 8.33 and a beta of 1.01.

Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.46 by $0.53. Heritage Insurance had a net margin of 9.29% and a return on equity of 26.95%. The business had revenue of $211.52 million for the quarter, compared to analysts' expectations of $213.68 million. Sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Heritage Insurance from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. 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 research report on Thursday, May 8th. Finally, Piper Sandler upped their price objective on shares of Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th.

Insider Transactions at Heritage Insurance

In other Heritage Insurance news, Director Panagiotis Apostolou sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the transaction, the director directly owned 164,719 shares of the company's stock, valued at approximately $4,183,862.60. This trade represents a 13.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.20% of the company's stock.

Heritage Insurance Profile

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.

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