Corient Private Wealth LP purchased a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 42,953 shares of the insurance provider's stock, valued at approximately $1,120,000. Corient Private Wealth LP owned approximately 0.14% of Heritage Insurance at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its holdings in shares of Heritage Insurance by 1.9% during the first quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider's stock valued at $690,000 after acquiring an additional 489 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Heritage Insurance by 72.6% in the fourth 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock valued at $196,000 after buying an additional 546 shares during the period. Graham Capital Management L.P. increased 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 acquiring an additional 789 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Heritage Insurance in the 3rd quarter valued at about $25,000. Institutional investors and hedge funds own 59.03% of the company's stock.
Wall Street Analyst Weigh In
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. Weiss Ratings reissued a "buy (b-)" rating on shares of Heritage Insurance in a research note on Friday, August 7th. Piper Sandler boosted their target price on Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Heritage Insurance from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $36.50.
Check Out Our Latest Analysis on HRTG
Heritage Insurance Stock Performance
Shares of HRTG opened at $33.84 on Friday. The company has a 50-day simple moving average of $30.43 and a 200-day simple moving average of $27.17. Heritage Insurance Holdings, Inc. has a 52-week low of $20.48 and a 52-week high of $36.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.01 billion, a PE ratio of 4.82 and a beta of 0.92.
Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share 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%. Equities research analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CAO Sharon Binnun sold 9,200 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $33.91, for a total value of $311,972.00. Following the sale, the chief accounting officer directly owned 87,188 shares in the company, valued at $2,956,545.08. This represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Timothy Moura sold 15,104 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $32.49, for a total transaction of $490,728.96. Following the transaction, the insider directly owned 144,941 shares of the company's stock, valued at approximately $4,709,133.09. This trade represents a 9.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 80,404 shares of company stock valued at $2,527,455. 9.20% of the stock is owned by company insiders.
Heritage Insurance Company Profile
(
Free Report)
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.
Further Reading
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