Bank of New York Mellon Corp Makes New $2.87 Million Investment in Heritage Insurance Holdings, Inc. $HRTG

Bank of New York Mellon Corp purchased a new stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 110,119 shares of the insurance provider's stock, valued at approximately $2,872,000. Bank of New York Mellon Corp owned 0.36% of Heritage Insurance as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Kestra Private Wealth Services LLC lifted its holdings in shares of Heritage Insurance by 1.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider's stock worth $690,000 after acquiring an additional 489 shares during the last quarter. Royal Bank of Canada increased its holdings 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock valued at $196,000 after purchasing an additional 546 shares during the period. Graham Capital Management L.P. lifted its stake in Heritage Insurance by 4.2% during the fourth quarter. Graham Capital Management L.P. now owns 19,378 shares of the insurance provider's stock worth $567,000 after purchasing an additional 789 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Heritage Insurance during the third quarter worth $25,000. Institutional investors and hedge funds own 59.03% of the company's stock.

Heritage Insurance Trading Down 0.3%

Shares of Heritage Insurance stock opened at $33.84 on Monday. 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 Holdings, Inc. has a 12-month low of $20.48 and a 12-month high of $36.50. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 4.82 and a beta of 0.92. The company has a fifty day simple moving average of $30.43 and a 200-day simple moving average of $27.18.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Heritage Insurance news, CEO Ernie J. Garateix sold 10,000 shares of Heritage Insurance stock in a transaction on Monday, August 24th. The shares were sold at an average price of $34.88, for a total value of $348,800.00. Following the transaction, the chief executive officer directly owned 1,040,955 shares in the company, valued at approximately $36,308,510.40. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Timothy Johns sold 3,500 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $33.68, for a total value of $117,880.00. Following the transaction, the insider directly owned 25,438 shares in the company, valued at approximately $856,751.84. This represents a 12.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,404 shares of company stock valued at $2,527,455 in the last quarter. Corporate insiders own 9.20% of the company's stock.

About Heritage Insurance

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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