52,060 Shares in Heritage Insurance Holdings, Inc. $HRTG Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC invested approximately $751,000 in Heritage Insurance Holdings, acquiring 52,060 shares during the first quarter.
• Heritage Insurance reported earnings of $1.55 per share, surpassing analysts' expectations of $1.03, with a net margin of 12.71% and return on equity of 33.36%.
• Several institutional investors have increased their stakes in Heritage Insurance, with 59.03% of the company's stock now owned by institutional investors.

Cubist Systematic Strategies LLC acquired a new position in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 52,060 shares of the insurance provider's stock, valued at approximately $751,000. Cubist Systematic Strategies LLC owned approximately 0.17% of Heritage Insurance as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in Heritage Insurance by 14.7% in the 1st quarter. American Century Companies Inc. now owns 676,814 shares of the insurance provider's stock worth $9,760,000 after buying an additional 86,915 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Heritage Insurance in the 4th quarter worth about $7,799,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Heritage Insurance by 8.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 485,631 shares of the insurance provider's stock worth $7,003,000 after buying an additional 37,763 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Heritage Insurance by 46.1% in the 4th quarter. Ameriprise Financial Inc. now owns 384,948 shares of the insurance provider's stock worth $4,658,000 after buying an additional 121,518 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in Heritage Insurance in the 1st quarter worth about $1,727,000. 59.03% of the stock is currently owned by institutional investors.

Insider Transactions at Heritage Insurance

In related news, Director Paul L. Whiting acquired 2,500 shares of the stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $20.50 per share, with a total value of $51,250.00. Following the transaction, the director directly owned 87,126 shares in the company, valued at approximately $1,786,083. This represents a 2.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sharon Binnun sold 21,000 shares of Heritage Insurance stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $24.47, for a total value of $513,870.00. Following the transaction, the chief accounting officer directly owned 176,006 shares in the company, valued at approximately $4,306,866.82. The trade was a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.00% of the stock is owned by insiders.

Heritage Insurance Stock Performance

Shares of Heritage Insurance stock traded down $0.48 during trading hours on Monday, reaching $24.11. 80,412 shares of the stock traded hands, compared to its average volume of 361,944. The company has a 50 day moving average price of $22.03 and a 200 day moving average price of $20.25. The firm has a market capitalization of $747.89 million, a price-to-earnings ratio of 6.98 and a beta of 1.05. Heritage Insurance Holdings, Inc. has a one year low of $8.70 and a one year high of $26.64. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24.

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

Wall Street Analyst Weigh In

Several research firms recently commented on HRTG. Zacks Research upgraded 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 note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $29.00.

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.