Fox Run Management L.L.C. Makes New Investment 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. acquired a new stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,291 shares of the insurance provider's stock, valued at approximately $235,000. Fox Run Management L.L.C. owned 0.05% of Heritage Insurance as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Heritage Insurance by 14.1% during 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 buying an additional 193,590 shares during the period. Invesco Ltd. grew its stake in shares of Heritage Insurance by 24.0% during the 4th quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock valued at $11,430,000 after buying an additional 182,624 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Heritage Insurance during the 4th quarter valued at $7,799,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Heritage Insurance by 8.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 485,631 shares of the insurance provider's stock valued at $7,003,000 after buying an additional 37,763 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Heritage Insurance by 49.6% during the 4th quarter. AQR Capital Management LLC now owns 468,860 shares of the insurance provider's stock valued at $5,673,000 after buying an additional 155,358 shares during the period. 59.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HRTG has been the subject of several research reports. Wall Street Zen cut shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Truist Financial upped their price target on shares of Heritage Insurance from $20.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Zacks Research raised shares of Heritage Insurance to a "strong-buy" rating in a research report on Monday, August 11th. Finally, Piper Sandler upped their price target on shares of Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $29.00.

Insiders Place Their Bets

In other Heritage Insurance news, Director Paul L. Whiting acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $20.50 per share, for a total transaction of $51,250.00. Following the completion of the purchase, the director directly owned 87,126 shares in the company, valued at $1,786,083. The trade was a 2.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 14.00% of the stock is currently owned by company insiders.

Heritage Insurance Stock Performance

HRTG traded up $0.01 on Tuesday, hitting $21.78. 230,901 shares of the company's stock were exchanged, compared to its average volume of 479,710. The firm has a market cap of $675.71 million, a PE ratio of 6.28 and a beta of 1.05. Heritage Insurance Holdings, Inc. has a twelve month low of $8.70 and a twelve month high of $26.64. The stock has a fifty day moving average of $21.92 and a two-hundred day moving average of $19.15. 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 released its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.52. The firm had revenue of $208.04 million for the quarter, compared to analyst estimates of $212.12 million. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. On average, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

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.