Fox Run Management L.L.C. Takes $235,000 Position in Heritage Insurance Holdings, Inc. $HRTG

Key Points

• Fox Run Management L.L.C. has taken a new position in Heritage Insurance Holdings, Inc. by purchasing 16,291 shares valued at approximately $235,000.
• Hedge funds and institutional investors collectively own 59.03% of Heritage Insurance's stock, indicating significant interest from large investment entities.
• Analysts have set a consensus target price of $29.00 for Heritage Insurance, with ratings ranging from "Strong Buy" to "Buy" by various financial institutions.

Fox Run Management L.L.C. purchased a new position in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,291 shares of the insurance provider's stock, valued at approximately $235,000. Fox Run Management L.L.C. owned approximately 0.05% of Heritage Insurance at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in Heritage Insurance by 18.1% in the 4th quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider's stock worth $162,000 after purchasing an additional 2,058 shares in the last quarter. Invesco Ltd. raised its position in shares of Heritage Insurance by 24.0% in the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock worth $11,430,000 after buying an additional 182,624 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Heritage Insurance during the fourth quarter valued at $1,123,000. Barclays PLC grew its position in Heritage Insurance by 10.6% during the fourth quarter. Barclays PLC now owns 45,505 shares of the insurance provider's stock worth $551,000 after buying an additional 4,370 shares in the last quarter. Finally, Mariner LLC purchased a new position in Heritage Insurance during the fourth quarter worth about $338,000. Hedge funds and other institutional investors own 59.03% of the company's stock.

Insider Activity at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting bought 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $20.50 per share, for a total transaction of $51,250.00. Following the transaction, the director directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on HRTG shares. Piper Sandler raised their price target on Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Zacks Research raised shares of Heritage Insurance to a "strong-buy" rating in a research note on Monday, August 11th. Wall Street Zen lowered shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Truist Financial boosted their price target 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. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $29.00.

Heritage Insurance Stock Performance

Shares of NYSE HRTG opened at $22.8790 on Thursday. The stock's 50-day moving average is $21.99 and its 200 day moving average is $18.80. The stock has a market cap of $709.71 million, a price-to-earnings ratio of 6.59 and a beta of 1.05. Heritage Insurance Holdings, Inc. has a 1-year low of $8.70 and a 1-year high of $26.64. 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 (NYSE:HRTG - Get Free Report) last issued its earnings results 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. The business had revenue of $208.04 million during the quarter, compared to analyst estimates of $212.12 million. Heritage Insurance had a return on equity of 33.36% and a net margin of 12.71%. On average, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal 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.

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