VIRGINIA RETIREMENT SYSTEMS ET Al Invests $960,000 in Heritage Insurance Holdings, Inc. $HRTG

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,800 shares of the insurance provider's stock, valued at approximately $960,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.12% of Heritage Insurance at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in Heritage Insurance in the 3rd quarter valued at $25,000. Mcguire Capital Advisors Inc. acquired a new position in Heritage Insurance during the fourth quarter worth $31,000. Royal Bank of Canada raised its position in Heritage Insurance by 72.6% during the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider's stock worth $35,000 after acquiring an additional 497 shares during the period. Optiver Holding B.V. lifted its holdings in Heritage Insurance by 510.0% during the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Pinnacle Holdings LLC purchased a new position in Heritage Insurance during the second quarter valued at $48,000. 59.03% of the stock is owned by institutional investors and hedge funds.

Heritage Insurance Stock Down 0.1%

Shares of NYSE:HRTG opened at $34.54 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. Heritage Insurance Holdings, Inc. has a 52-week low of $20.48 and a 52-week high of $36.50. The business has a fifty day moving average of $31.19 and a two-hundred day moving average of $27.54. The stock has a market cap of $1.03 billion, a P/E ratio of 4.92 and a beta of 0.92.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.80. The company had revenue of $214.19 million during the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%. On average, research analysts expect that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HRTG has been the subject of a number of research reports. Wall Street Zen raised shares of Heritage Insurance from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Piper Sandler lifted their price objective on Heritage Insurance from $27.00 to $31.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Truist Financial boosted their price objective on Heritage Insurance from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Heritage Insurance from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $36.50.

Insider Activity at Heritage Insurance

In other news, CFO Kirk Lusk sold 10,000 shares of Heritage Insurance stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.16, for a total value of $341,600.00. Following the completion of the sale, the chief financial officer directly owned 492,522 shares of the company's stock, valued at approximately $16,824,551.52. The trade was a 1.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ernie Garateix sold 10,000 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $34.88, for a total value of $348,800.00. Following the completion of the sale, the chief executive officer owned 1,040,955 shares in the company, valued at $36,308,510.40. This represents a 0.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 89,469 shares of company stock valued at $2,837,168 over the last ninety days. 9.20% of the stock is owned by insiders.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc is a property and casualty insurance company that provides residential property coverage through its insurance subsidiaries. Its products primarily include homeowners insurance and related coverage for personal and commercial residential properties, including protection against risks such as wind, fire and other property damage.

The company focuses on serving customers in catastrophe-exposed coastal markets, particularly in the Southeastern United States.

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