Public Employees Retirement System of Ohio Purchases New Shares in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Public Employees Retirement System of Ohio bought a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 65,828 shares of the insurance provider's stock, valued at approximately $797,000. Public Employees Retirement System of Ohio owned 0.21% of Heritage Insurance at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Man Group plc purchased a new stake in Heritage Insurance in the fourth quarter worth about $662,000. Jacobs Levy Equity Management Inc. bought a new stake in Heritage Insurance in the 4th quarter worth approximately $7,799,000. Graham Capital Management L.P. grew its position in Heritage Insurance by 213.7% in the 4th quarter. Graham Capital Management L.P. now owns 44,674 shares of the insurance provider's stock worth $541,000 after purchasing an additional 30,434 shares during the period. FJ Capital Management LLC bought a new stake in Heritage Insurance in the 4th quarter worth approximately $212,000. Finally, Deutsche Bank AG grew its position in Heritage Insurance by 23.7% in the 4th quarter. Deutsche Bank AG now owns 16,744 shares of the insurance provider's stock worth $203,000 after purchasing an additional 3,208 shares during the period. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Insurance Stock Up 0.9%

Shares of NYSE HRTG traded up $0.21 during midday trading on Thursday, reaching $24.26. 289,517 shares of the company's stock traded hands, compared to its average volume of 400,748. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock's 50 day simple moving average is $20.28 and its 200-day simple moving average is $14.89. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $26.64. The company has a market cap of $751.86 million, a price-to-earnings ratio of 9.70 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, beating analysts' consensus estimates of $0.46 by $0.53. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The company had revenue of $211.52 million during the quarter, compared to analysts' expectations of $213.68 million. On average, analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction of $635,000.00. Following the completion of the transaction, the director now owns 164,719 shares of the company's stock, valued at $4,183,862.60. This trade represents a 13.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul L. Whiting bought 10,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $13.35 per share, with a total value of $133,500.00. Following the acquisition, the director now owns 79,576 shares of the company's stock, valued at $1,062,339.60. The trade was a 14.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 21,000 shares of company stock valued at $280,450. Insiders own 15.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Truist Financial upped their price target 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 upgraded shares of Heritage Insurance from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

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.