Heritage Insurance Holdings, Inc. $HRTG Shares Purchased by Brandywine Global Investment Management LLC

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

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Heritage Insurance by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider's stock valued at $18,993,000 after acquiring an additional 193,590 shares during the period. Invesco Ltd. boosted its position in Heritage Insurance by 24.0% during the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock valued at $11,430,000 after purchasing an additional 182,624 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Heritage Insurance in the fourth quarter valued at about $7,799,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Heritage Insurance by 8.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 485,631 shares of the insurance provider's stock valued at $7,003,000 after purchasing an additional 37,763 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Heritage Insurance by 49.6% in the fourth quarter. AQR Capital Management LLC now owns 468,860 shares of the insurance provider's stock worth $5,673,000 after purchasing an additional 155,358 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Heritage Insurance

In related news, Director Paul L. Whiting purchased 2,500 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was purchased 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 in the company, valued at $1,786,083. This trade represents a 2.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 15.20% of the stock is currently owned by corporate insiders.

Heritage Insurance Stock Performance

HRTG traded down $0.43 during midday trading on Friday, hitting $22.64. 302,719 shares of the company were exchanged, compared to its average volume of 489,924. The firm has a market capitalization of $702.29 million, a price-to-earnings ratio of 6.52 and a beta of 1.05. The company's 50 day simple moving average is $21.97 and its 200 day simple moving average is $18.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. Heritage Insurance Holdings, Inc. has a 1-year low of $8.70 and a 1-year high of $26.64.

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

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.