Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock Position Trimmed by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. decreased its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 60.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,145 shares of the insurance provider's stock after selling 75,172 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.16% of Heritage Insurance worth $607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HRTG. New York State Common Retirement Fund increased its stake in Heritage Insurance by 222.2% in the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock valued at $35,000 after buying an additional 2,000 shares during the period. Triumph Capital Management acquired a new position in Heritage Insurance during the 4th quarter worth approximately $121,000. Cantor Fitzgerald L. P. acquired a new stake in Heritage Insurance in the fourth quarter valued at $133,000. SG Americas Securities LLC acquired a new position in Heritage Insurance during the fourth quarter worth about $134,000. Finally, Brandywine Global Investment Management LLC increased its holdings in Heritage Insurance by 21.7% in the fourth quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider's stock valued at $150,000 after buying an additional 2,210 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company's stock.

Heritage Insurance Price Performance

Shares of NYSE HRTG traded up $0.96 during trading on Friday, reaching $24.68. The company had a trading volume of 138,036 shares, compared to its average volume of 396,121. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a twelve month low of $6.14 and a twelve month high of $26.64. The stock has a 50-day moving average price of $19.43 and a two-hundred day moving average price of $14.53. The stock has a market capitalization of $764.78 million, a PE ratio of 9.87 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.53. The firm had revenue of $211.52 million during the quarter, compared to the consensus estimate of $213.68 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. As a group, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler upped their target price on Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Truist Financial raised their target price on shares of Heritage Insurance from $20.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Heritage Insurance from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

Insider Activity

In related news, Director Panagiotis Apostolou sold 25,000 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the sale, the director now directly owns 164,719 shares of the company's stock, valued at approximately $4,183,862.60. This represents a 13.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernie J. Garateix acquired 5,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were purchased at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the purchase, the chief executive officer now directly owns 1,270,808 shares of the company's stock, valued at approximately $16,228,218.16. This trade represents a 0.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 21,000 shares of company stock valued at $280,450 over the last quarter. Company insiders own 14.00% of the company's stock.

About Heritage Insurance

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.