Brandywine Global Investment Management LLC Has $446,000 Stock Position in Heritage Insurance Holdings, Inc. $HRTG

Key Points

• Brandywine Global Investment Management LLC increased its stake in Heritage Insurance Holdings, Inc. by 149.2%, acquiring an additional 18,500 shares to bring its total to 30,900 shares worth approximately $446,000.
• Director Paul L. Whiting purchased 2,500 shares of Heritage Insurance, raising his ownership by 2.95% and bringing his total shares to 87,126, valued at around $1.79 million.
• Heritage Insurance reported an EPS of $1.55 for the last quarter, exceeding the consensus estimate by $0.52, and analysts continue to project a favorable buy rating for the stock with an average target price of $29.00.

Brandywine Global Investment Management LLC lifted its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 149.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,900 shares of the insurance provider's stock after purchasing an additional 18,500 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.10% of Heritage Insurance worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew 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 worth $450,000 after buying an additional 3,050 shares during the last quarter. CWM LLC boosted its holdings in shares of Heritage Insurance by 83.7% during the first quarter. CWM LLC now owns 9,951 shares of the insurance provider's stock valued at $143,000 after acquiring an additional 4,535 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Heritage Insurance during the first quarter worth about $144,000. Triumph Capital Management acquired a new stake in shares of Heritage Insurance in the 4th quarter worth about $121,000. Finally, Cantor Fitzgerald L. P. bought a new stake in Heritage Insurance in the 4th quarter valued at about $133,000. Institutional investors own 59.03% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on HRTG. Zacks Research upgraded shares of Heritage Insurance to a "strong-buy" rating in a research report on Monday, August 11th. Piper Sandler lifted their price objective on shares of Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Truist Financial increased their target price on shares of Heritage Insurance from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen cut shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $29.00.

Heritage Insurance Price Performance

NYSE HRTG traded down $0.9460 on Monday, reaching $21.7040. The company's stock had a trading volume of 270,032 shares, compared to its average volume of 485,930. Heritage Insurance Holdings, Inc. has a twelve month low of $8.70 and a twelve month 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 has a market cap of $673.26 million, a PE ratio of 6.25 and a beta of 1.05. The firm's 50 day moving average is $21.94 and its two-hundred day moving average is $19.13.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.52. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. The company had revenue of $208.04 million for the quarter, compared to analysts' expectations of $212.12 million. As a group, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Heritage Insurance

In related news, Director Paul L. Whiting purchased 2,500 shares of the company's stock in a transaction on Friday, August 8th. The shares were bought at an average price of $20.50 per share, with a total value of $51,250.00. Following the completion of the acquisition, the director owned 87,126 shares of the company's stock, valued at approximately $1,786,083. This represents a 2.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 14.00% 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.