XTX Topco Ltd Purchases Shares of 26,877 Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Key Points

• XTX Topco Ltd acquired 26,877 shares of Heritage Insurance Holdings, Inc., valued at approximately $388,000, increasing its stake to about 0.09% as reported in a Form 13F filing.
• A significant number of large investors have also adjusted their positions in Heritage Insurance, with Mackenzie Financial Corp increasing its stake by 307.3% during the first quarter.
• Wall Street analysts have mixed opinions, with some upgrading their price targets while Wall Street Zen downgraded the stock from a "strong-buy" to a "buy" rating.

XTX Topco Ltd purchased a new position in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 26,877 shares of the insurance provider's stock, valued at approximately $388,000. XTX Topco Ltd owned 0.09% of Heritage Insurance as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Triumph Capital Management bought a new position in shares of Heritage Insurance during the fourth quarter valued at approximately $121,000. Cantor Fitzgerald L. P. bought a new stake in shares of Heritage Insurance during the fourth quarter valued at approximately $133,000. CWM LLC raised its holdings in shares of 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 buying an additional 4,535 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Heritage Insurance during the fourth quarter valued at approximately $150,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Heritage Insurance by 18.1% during the fourth quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider's stock valued at $162,000 after buying an additional 2,058 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting bought 2,500 shares of the company'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 acquisition, the director directly owned 87,126 shares of the company's stock, valued at approximately $1,786,083. This trade represents a 2.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.00% of the stock is currently owned by insiders.

Heritage Insurance Price Performance

Shares of HRTG traded up $0.38 during midday trading on Wednesday, reaching $22.08. The stock had a trading volume of 150,708 shares, compared to its average volume of 367,584. Heritage Insurance Holdings, Inc. has a 52 week low of $8.70 and a 52 week high of $26.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.78. The firm's 50 day moving average price is $22.24 and its 200-day moving average price is $18.40. The company has a market capitalization of $684.17 million, a P/E ratio of 6.35 and a beta of 1.05.

Heritage Insurance (NYSE:HRTG - Get Free Report) last released its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 EPS for the quarter, topping 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 business had revenue of $208.04 million for the quarter, compared to the consensus estimate of $212.12 million. On average, analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HRTG shares. Truist Financial lifted their price target on Heritage Insurance from $20.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wall Street Zen cut Heritage Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Piper Sandler increased their price objective 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.

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.