35,149 Shares in Heritage Insurance Holdings, Inc. $HRTG Purchased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio purchased 35,149 Heritage Insurance shares valued at approximately $917,000, while institutional investors collectively own 59.03% of the company.
• Analyst sentiment is broadly positive: Heritage Insurance has a consensus “Buy” rating and an average price target of $36.50, with several firms recently raising targets or upgrading the stock.
• Heritage reported quarterly EPS of $2.05, exceeding expectations of $1.25, and revenue of $214.19 million. Shares opened at $34.08, near the company’s 52-week high of $36.50.

Public Employees Retirement System of Ohio bought a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 35,149 shares of the insurance provider's stock, valued at approximately $917,000. Public Employees Retirement System of Ohio owned about 0.12% of Heritage Insurance as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Heritage Insurance during the 2nd quarter worth approximately $60,842,000. Vanguard Group Inc. lifted its position in shares of Heritage Insurance by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider's stock worth $55,039,000 after purchasing an additional 234,296 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Heritage Insurance by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider's stock worth $32,732,000 after purchasing an additional 36,879 shares in the last quarter. Marshall Wace LLP boosted its holdings in Heritage Insurance by 8.7% during the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider's stock worth $25,793,000 after purchasing an additional 82,190 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Heritage Insurance by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 665,902 shares of the insurance provider's stock worth $19,486,000 after purchasing an additional 34,996 shares during the last quarter. Institutional investors own 59.03% of the company's stock.

Insider Activity at Heritage Insurance

In related news, insider Timothy E. Johns sold 3,500 shares of Heritage Insurance stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $33.68, for a total transaction of $117,880.00. Following the completion of the transaction, the insider owned 25,438 shares in the company, valued at approximately $856,751.84. This trade represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kirk Lusk sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.16, for a total value of $341,600.00. Following the transaction, the chief financial officer directly owned 492,522 shares in the company, valued at approximately $16,824,551.52. This trade represents a 1.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 82,904 shares of company stock worth $2,615,205 over the last ninety days. Company insiders own 9.20% of the company's stock.

Wall Street Analysts Forecast Growth

HRTG has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Truist Financial increased their price objective on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Zacks Research raised Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised Heritage Insurance from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $36.50.

Heritage Insurance Price Performance

Shares of HRTG opened at $34.08 on Thursday. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 4.85 and a beta of 0.92. Heritage Insurance Holdings, Inc. has a 1-year low of $20.48 and a 1-year high of $36.50. The company's fifty day simple moving average is $30.89 and its 200 day simple moving average is $27.39. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.80. The firm had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.

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.

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