Trexquant Investment LP Has $1.80 Million Position in Heritage Insurance Holdings, Inc. $HRTG

Key Points

• Trexquant Investment LP reduced its holdings in Heritage Insurance Holdings, Inc. by 14.6%, now owning approximately $1.80 million worth of shares.
• Heritage Insurance's recent earnings report showed earnings per share of $1.55, exceeding expectations, with revenue of $208.04 million compared to an anticipated $212.12 million.
• Research analysts have increased their target prices for Heritage Insurance, with Truist Financial setting a new target of $30.00, reflecting positive sentiment about the stock's prospects.

Trexquant Investment LP lowered its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,111 shares of the insurance provider's stock after selling 21,458 shares during the period. Trexquant Investment LP owned approximately 0.40% of Heritage Insurance worth $1,804,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Triumph Capital Management bought a new position in Heritage Insurance during the 4th quarter valued at $121,000. Quantbot Technologies LP bought a new position in Heritage Insurance during the 1st quarter valued at $141,000. CWM LLC boosted its stake in Heritage Insurance by 83.7% during the 1st quarter. CWM LLC now owns 9,951 shares of the insurance provider's stock valued at $143,000 after acquiring an additional 4,535 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Heritage Insurance in the 1st quarter worth about $144,000. Finally, Wells Fargo & Company MN lifted its position in shares of Heritage Insurance by 18.1% in the 4th quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider's stock worth $162,000 after buying an additional 2,058 shares during the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on HRTG shares. Zacks Research upgraded shares of Heritage Insurance to a "strong-buy" rating in a research report on Monday, August 11th. 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. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $29.00.

Heritage Insurance Stock Performance

NYSE:HRTG traded down $1.78 during trading hours on Wednesday, hitting $22.03. 387,193 shares of the company traded hands, compared to its average volume of 298,646. The stock has a market capitalization of $683.40 million, a price-to-earnings ratio of 6.35 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 firm has a 50-day moving average of $21.99 and a 200 day moving average of $19.95. 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 announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $208.04 million during the quarter, compared to analysts' expectations of $212.12 million. On average, analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Heritage Insurance

In other Heritage Insurance news, CAO Sharon Binnun sold 21,000 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $24.47, for a total transaction of $513,870.00. Following the sale, the chief accounting officer owned 176,006 shares of the company's stock, valued at $4,306,866.82. This represents a 10.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul L. Whiting purchased 2,500 shares of the stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $20.50 per share, with a total value of $51,250.00. Following the transaction, the director owned 87,126 shares in the company, valued at $1,786,083. This trade represents a 2.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.20% of the stock is owned by corporate insiders.

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.