Balyasny Asset Management L.P. Raises Stock Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Balyasny Asset Management L.P. grew its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 111.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,358 shares of the insurance provider's stock after buying an additional 20,245 shares during the period. Balyasny Asset Management L.P. owned approximately 0.13% of Heritage Insurance worth $464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Heritage Insurance by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider's stock worth $18,993,000 after buying an additional 193,590 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Heritage Insurance by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 1,328,135 shares of the insurance provider's stock worth $16,070,000 after buying an additional 9,452 shares during the last quarter. Invesco Ltd. grew its stake in shares of Heritage Insurance by 24.0% in the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock worth $11,430,000 after acquiring an additional 182,624 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in shares of Heritage Insurance by 33.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider's stock valued at $9,844,000 after buying an additional 205,195 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Heritage Insurance by 14.8% in the fourth quarter. American Century Companies Inc. now owns 589,899 shares of the insurance provider's stock worth $7,138,000 after purchasing an additional 76,032 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Heritage Insurance news, Director Panagiotis Apostolou sold 25,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the sale, the director now directly owns 164,719 shares of the company's stock, valued at $4,183,862.60. This trade represents a 13.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ernie J. Garateix bought 5,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $12.77 per share, with a total value of $63,850.00. Following the transaction, the chief executive officer now owns 1,270,808 shares of the company's stock, valued at $16,228,218.16. The trade was a 0.40% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 21,000 shares of company stock worth $280,450. 15.20% of the stock is owned by corporate insiders.

Heritage Insurance Price Performance

Shares of NYSE HRTG traded down $0.24 during midday trading on Thursday, reaching $23.16. The stock had a trading volume of 49,764 shares, compared to its average volume of 395,819. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Insurance Holdings, Inc. has a 12-month low of $6.14 and a 12-month high of $26.64. The stock has a 50-day moving average of $18.25 and a 200-day moving average of $14.03. The company has a market capitalization of $717.64 million, a price-to-earnings ratio of 9.26 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.53. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The business had revenue of $211.52 million during the quarter, compared to analyst estimates of $213.68 million. As a group, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Truist Financial raised their target price on Heritage Insurance from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, StockNews.com raised Heritage Insurance from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

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.