State of Wyoming Has $429,000 Stock Position in Heritage Insurance Holdings, Inc. $HRTG

Key Points

• The State of Wyoming increased its stake in Heritage Insurance Holdings, Inc. by 586.7% in Q1, now holding 29,733 shares valued at $429,000.
• Director Paul L. Whiting purchased 2,500 shares at $20.50 per share, increasing his position by 2.95% to a total of 87,126 shares valued at approximately $1.79 million.
• Heritage Insurance reported $1.55 EPS for the last quarter, significantly exceeding analysts' expectations of $1.03, with a revenue of $208.04 million.

State of Wyoming increased its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 586.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,733 shares of the insurance provider's stock after acquiring an additional 25,403 shares during the period. State of Wyoming owned about 0.10% of Heritage Insurance worth $429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Triumph Capital Management acquired a new stake in Heritage Insurance in the 4th quarter valued at $121,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Heritage Insurance in the fourth quarter valued at about $133,000. Quantbot Technologies LP bought a new stake in Heritage Insurance during the first quarter worth about $141,000. CWM LLC boosted its position in Heritage Insurance by 83.7% during the first quarter. CWM LLC now owns 9,951 shares of the insurance provider's stock valued at $143,000 after purchasing an additional 4,535 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Heritage Insurance in the first quarter valued at approximately $144,000. 59.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting purchased 2,500 shares of the firm's stock in a transaction dated 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 purchase, the director owned 87,126 shares in the company, valued at approximately $1,786,083. This trade represents a 2.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.20% of the company's stock.

Heritage Insurance Stock Performance

Shares of HRTG stock opened at $22.76 on Friday. The company has a market capitalization of $705.95 million, a price-to-earnings ratio of 6.56 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. The company has a 50-day simple moving average of $21.93 and a 200 day simple moving average of $19.38. Heritage Insurance Holdings, Inc. has a 52 week low of $8.70 and a 52 week high of $26.64.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Truist Financial raised their target price on shares of Heritage Insurance from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Zacks Research upgraded Heritage Insurance to a "strong-buy" rating in a report on Monday, August 11th. Finally, Wall Street Zen lowered Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, Heritage Insurance presently has an average rating of "Buy" and an average target price of $29.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.