Jacobs Levy Equity Management Inc. Buys Shares of 644,576 Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Jacobs Levy Equity Management Inc. purchased a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 644,576 shares of the insurance provider's stock, valued at approximately $7,799,000. Jacobs Levy Equity Management Inc. owned about 2.10% of Heritage Insurance as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in shares of Heritage Insurance in the fourth quarter valued at about $296,000. Ieq Capital LLC acquired a new stake in Heritage Insurance in the 4th quarter worth about $303,000. Raymond James Financial Inc. bought a new stake in Heritage Insurance in the 4th quarter valued at about $1,123,000. American Century Companies Inc. grew its position in shares of Heritage Insurance by 14.8% during the 4th 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 in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Heritage Insurance by 323.8% during the fourth quarter. Prudential Financial Inc. now owns 93,975 shares of the insurance provider's stock worth $1,137,000 after purchasing an additional 71,800 shares during the period. 59.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO Ernie J. Garateix acquired 5,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now directly owns 1,270,808 shares in the company, valued at $16,228,218.16. This trade represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 164,719 shares of the company's stock, valued at approximately $4,183,862.60. The trade was a 13.18% decrease in their position. The disclosure for this sale can be found here. Insiders acquired 21,000 shares of company stock worth $280,450 over the last three months. Insiders own 15.20% of the company's stock.

Heritage Insurance Price Performance

Heritage Insurance stock traded up $0.40 during trading hours on Monday, reaching $24.87. 116,251 shares of the stock were exchanged, compared to its average volume of 394,129. 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 twelve month low of $6.14 and a twelve month high of $26.64. The company has a market cap of $770.80 million, a P/E ratio of 9.94 and a beta of 0.95. The stock has a 50 day moving average of $17.55 and a two-hundred day moving average of $13.79.

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 for the quarter, topping analysts' consensus estimates of $0.46 by $0.53. The company had revenue of $211.52 million during the quarter, compared to the consensus estimate of $213.68 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. Equities analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Heritage Insurance 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.