AQR Capital Management LLC Raises Holdings in Heritage Insurance Holdings, Inc. $HRTG

Key Points

• AQR Capital Management LLC has increased its holdings in Heritage Insurance Holdings, Inc. by 8.6% during the first quarter, owning approximately 1.64% of the company after purchasing an additional 40,220 shares.
• Heritage Insurance reported an earnings per share (EPS) of $1.55 for the last quarter, exceeding analysts' expectations of $1.03, and has a consensus target price of $29.00 according to recent analyst ratings.
• Shares of Heritage Insurance opened at $23.88 and have seen significant volatility over the past year, ranging from a low of $8.70 to a high of $26.64.

AQR Capital Management LLC grew its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 509,080 shares of the insurance provider's stock after buying an additional 40,220 shares during the quarter. AQR Capital Management LLC owned approximately 1.64% of Heritage Insurance worth $7,341,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in shares of Heritage Insurance during the 1st quarter worth about $751,000. State of Wyoming lifted its stake in Heritage Insurance by 586.7% in the 1st quarter. State of Wyoming now owns 29,733 shares of the insurance provider's stock valued at $429,000 after acquiring an additional 25,403 shares in the last quarter. Ieq Capital LLC lifted its stake in Heritage Insurance by 14.7% in the 1st quarter. Ieq Capital LLC now owns 28,726 shares of the insurance provider's stock valued at $414,000 after acquiring an additional 3,679 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of Heritage Insurance by 38.9% during the 1st quarter. Martingale Asset Management L P now owns 54,380 shares of the insurance provider's stock worth $784,000 after purchasing an additional 15,235 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Heritage Insurance during the 1st quarter worth approximately $141,000. Institutional investors own 59.03% of the company's stock.

Insider Buying and Selling

In related news, CFO Kirk Lusk sold 20,000 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $24.17, for a total transaction of $483,400.00. Following the sale, the chief financial officer directly owned 598,756 shares in the company, valued at approximately $14,471,932.52. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul L. Whiting bought 2,500 shares of Heritage Insurance stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $20.50 per share, with a total value of $51,250.00. Following the completion of the transaction, the director owned 87,126 shares of the company's stock, valued at $1,786,083. This represents a 2.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 66,000 shares of company stock valued at $1,612,520. 15.20% of the stock is owned by company insiders.

Heritage Insurance Stock Up 1.4%

Heritage Insurance stock traded up $0.35 during mid-day trading on Wednesday, reaching $24.83. The stock had a trading volume of 757,388 shares, compared to its average volume of 331,033. Heritage Insurance Holdings, Inc. has a fifty-two week low of $8.70 and a fifty-two week high of $26.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82. The stock's 50-day simple moving average is $22.14 and its 200-day simple moving average is $20.40. The firm has a market capitalization of $770.20 million, a PE ratio of 7.16 and a beta of 1.05.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research raised Heritage Insurance to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen downgraded Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $29.00.

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.