Jacobs Levy Equity Management Inc. Decreases Stake in Heritage Insurance Holdings, Inc. $HRTG

Jacobs Levy Equity Management Inc. lowered its position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 503,034 shares of the insurance provider's stock after selling 141,542 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.62% of Heritage Insurance worth $7,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake in shares of Heritage Insurance by 46.1% during the 4th quarter. Ameriprise Financial Inc. now owns 384,948 shares of the insurance provider's stock worth $4,658,000 after acquiring an additional 121,518 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Heritage Insurance in the 1st quarter worth about $1,727,000. Nuveen LLC bought a new stake in shares of Heritage Insurance in the 1st quarter worth about $1,495,000. American Century Companies Inc. boosted its stake in shares of Heritage Insurance by 14.7% during the 1st quarter. American Century Companies Inc. now owns 676,814 shares of the insurance provider's stock worth $9,760,000 after purchasing an additional 86,915 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Heritage Insurance by 307.3% during the 1st quarter. Mackenzie Financial Corp now owns 102,652 shares of the insurance provider's stock worth $1,480,000 after purchasing an additional 77,452 shares during the period. Hedge funds and other institutional investors own 59.03% of the company's stock.

Heritage Insurance Stock Performance

NYSE HRTG traded up $0.71 during mid-day trading on Friday, reaching $24.59. 313,630 shares of the stock were exchanged, compared to its average volume of 305,514. The business's 50 day moving average is $22.03 and its 200-day moving average is $20.19. Heritage Insurance Holdings, Inc. has a 1 year low of $8.70 and a 1 year high of $26.64. The company has a market capitalization of $762.69 million, a P/E ratio of 7.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82.

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

Analysts Set New Price Targets

HRTG has been the subject of several research reports. Zacks Research raised shares of Heritage Insurance to a "strong-buy" rating in a research report on Monday, August 11th. Wall Street Zen lowered shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat.com, Heritage Insurance currently has a consensus rating of "Buy" and a consensus price target of $29.00.

Insiders Place Their Bets

In other Heritage Insurance news, CAO Sharon Binnun sold 21,000 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $24.47, for a total transaction of $513,870.00. Following the transaction, the chief accounting officer directly owned 176,006 shares of the company's stock, valued at $4,306,866.82. This trade represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul L. Whiting acquired 2,500 shares of the firm's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $20.50 per share, for a total transaction of $51,250.00. Following the completion of the acquisition, the director owned 87,126 shares of the company's stock, valued at approximately $1,786,083. This represents a 2.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 15.20% of the company's stock.

Heritage Insurance Company 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.