Algert Global LLC Purchases New Position in Heritage Insurance Holdings, Inc. $HRTG

Algert Global LLC purchased a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 81,624 shares of the insurance provider's stock, valued at approximately $2,129,000. Algert Global LLC owned 0.27% of Heritage Insurance as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in shares of Heritage Insurance in the third quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. acquired a new stake in Heritage Insurance during the 4th quarter worth approximately $31,000. Royal Bank of Canada boosted its stake in Heritage Insurance by 72.6% in the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 497 shares during the period. Optiver Holding B.V. boosted its stake in Heritage Insurance by 510.0% in the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 1,173 shares during the period. Finally, Pinnacle Holdings LLC acquired a new position in Heritage Insurance in the 2nd quarter valued at $48,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HRTG has been the subject of a number of research reports. Zacks Research raised Heritage Insurance from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Truist Financial upped their price target on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Piper Sandler raised their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Heritage Insurance in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Heritage Insurance from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Heritage Insurance presently has an average rating of "Buy" and a consensus target price of $36.50.

Heritage Insurance Stock Performance

Shares of NYSE:HRTG opened at $33.92 on Friday. Heritage Insurance Holdings, Inc. has a 1 year low of $20.48 and a 1 year high of $36.50. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.83 and a quick ratio of 0.83. The company's 50 day simple moving average is $29.51 and its 200 day simple moving average is $26.85.

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

Insider Transactions at Heritage Insurance

In related news, CAO Sharon Binnun sold 9,200 shares of Heritage Insurance stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $30.03, for a total transaction of $276,276.00. Following the sale, the chief accounting officer directly owned 96,388 shares of the company's stock, valued at approximately $2,894,531.64. The trade was a 8.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ernie J. Garateix sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $34.88, for a total transaction of $348,800.00. Following the transaction, the chief executive officer owned 1,040,955 shares of the company's stock, valued at approximately $36,308,510.40. This represents a 0.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 71,204 shares of company stock valued at $2,215,483. 9.20% of the stock is owned by company insiders.

Heritage Insurance 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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