Man Group plc acquired a new stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 54,693 shares of the insurance provider's stock, valued at approximately $662,000. Man Group plc owned about 0.18% of Heritage Insurance as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in 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 purchasing an additional 193,590 shares during the period. Vanguard Group Inc. boosted its stake in Heritage Insurance by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,328,135 shares of the insurance provider's stock valued at $16,070,000 after purchasing an additional 9,452 shares during the period. Invesco Ltd. boosted its stake in 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 purchasing an additional 182,624 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake in Heritage Insurance by 33.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider's stock valued at $9,844,000 after purchasing an additional 205,195 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Heritage Insurance during the 4th quarter valued at approximately $7,799,000. Institutional investors and hedge funds own 59.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on HRTG shares. Piper Sandler increased their target price on Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Truist Financial raised their price objective on Heritage Insurance from $20.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th.
Read Our Latest Stock Analysis on HRTG
Heritage Insurance Stock Performance
Shares of HRTG stock traded down $0.81 during mid-day trading on Wednesday, reaching $23.27. The stock had a trading volume of 456,458 shares, compared to its average volume of 398,431. The firm's 50 day simple moving average is $19.04 and its 200 day simple moving average is $14.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $26.64. The firm has a market cap of $721.21 million, a PE ratio of 9.31 and a beta of 0.95.
Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.46 by $0.53. The business had revenue of $211.52 million during the quarter, compared to the consensus estimate of $213.68 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. On average, analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.
Insider Buying and Selling
In related news, CEO Ernie J. Garateix bought 5,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now directly owns 1,270,808 shares of the company's stock, valued at $16,228,218.16. This represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Panagiotis Apostolou sold 25,000 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the sale, the director now directly owns 164,719 shares of the company's stock, valued at $4,183,862.60. This represents a 13.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 21,000 shares of company stock worth $280,450 in the last 90 days. 14.00% of the stock is owned by company insiders.
Heritage Insurance Company Profile
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Free Report)
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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