Two Sigma Advisers LP Decreases Stock Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Two Sigma Advisers LP lowered its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,000 shares of the insurance provider's stock after selling 33,900 shares during the quarter. Two Sigma Advisers LP owned about 0.71% of Heritage Insurance worth $2,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HRTG. New York State Common Retirement Fund lifted its stake in shares of Heritage Insurance by 222.2% in the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 2,000 shares during the last quarter. Triumph Capital Management bought a new stake in Heritage Insurance during the 4th quarter worth about $121,000. Cantor Fitzgerald L. P. bought a new stake in shares of Heritage Insurance during the fourth quarter worth approximately $133,000. SG Americas Securities LLC acquired a new stake in shares of Heritage Insurance during the fourth quarter worth about $134,000. Finally, Brandywine Global Investment Management LLC raised its position in Heritage Insurance by 21.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider's stock valued at $150,000 after buying an additional 2,210 shares during the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HRTG has been the topic of a number of research analyst reports. Piper Sandler upped their target price on shares of Heritage Insurance from $19.00 to $28.00 and gave the company 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 stock a "buy" rating in a report on Thursday, May 8th. Finally, Wall Street Zen raised Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th.

Heritage Insurance Trading Up 3.3%

HRTG stock traded up $0.78 during mid-day trading on Friday, reaching $24.50. The company's stock had a trading volume of 546,822 shares, compared to its average volume of 398,616. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a 12 month low of $6.14 and a 12 month high of $26.64. The business's 50 day moving average price is $19.64 and its 200 day moving average price is $14.66. The company has a market cap of $759.33 million, a price-to-earnings ratio of 9.80 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.46 by $0.53. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The firm had revenue of $211.52 million during the quarter, compared to the consensus estimate of $213.68 million. On average, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insiders Place Their Bets

In other news, Director Panagiotis Apostolou sold 25,000 shares of Heritage Insurance stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $25.40, for a total value of $635,000.00. Following the transaction, the director now owns 164,719 shares in the company, valued at approximately $4,183,862.60. The trade was a 13.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ernie J. Garateix purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $12.77 per share, with a total value of $63,850.00. Following the purchase, the chief executive officer now directly owns 1,270,808 shares of the company's stock, valued at $16,228,218.16. This trade represents a 0.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,000 shares of company stock worth $280,450 over the last 90 days. Corporate insiders own 14.00% 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.