Segall Bryant & Hamill LLC Cuts Stock Position in Heritage Insurance Holdings, Inc. $HRTG

Segall Bryant & Hamill LLC cut its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 45.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,861 shares of the insurance provider’s stock after selling 156,578 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.60% of Heritage Insurance worth $4,610,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HRTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Heritage Insurance by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 546 shares during the period. USA Financial Formulas bought a new position in Heritage Insurance in the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC grew its holdings in Heritage Insurance by 2,413.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock valued at $28,000 after buying an additional 1,062 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Heritage Insurance by 33.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,749 shares of the insurance provider’s stock valued at $143,000 after buying an additional 1,432 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Heritage Insurance by 252.3% in the second quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock worth $81,000 after buying an additional 2,334 shares in the last quarter. Institutional investors own 59.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ernie J. Garateix sold 25,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $24.61, for a total transaction of $615,250.00. Following the sale, the chief executive officer owned 1,245,808 shares in the company, valued at approximately $30,659,334.88. This represents a 1.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Sharon Binnun sold 21,000 shares of Heritage Insurance stock in a transaction on Friday, September 5th. The stock was sold at an average price of $24.47, for a total transaction of $513,870.00. Following the transaction, the chief accounting officer directly owned 176,006 shares of the company’s stock, valued at $4,306,866.82. The trade was a 10.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 396,002 shares of company stock worth $10,284,609. 14.00% of the stock is owned by company insiders.

Heritage Insurance Stock Up 4.6%

Shares of NYSE:HRTG opened at $28.36 on Tuesday. The company has a market cap of $876.45 million, a price-to-earnings ratio of 5.87 and a beta of 0.95. Heritage Insurance Holdings, Inc. has a 12 month low of $9.89 and a 12 month high of $31.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $25.79 and a 200 day moving average price of $23.86.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $1.10. The company had revenue of $212.46 million for the quarter, compared to analysts’ expectations of $210.12 million. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%. As a group, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HRTG shares. Zacks Research upgraded shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Weiss Ratings raised Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Wall Street Zen downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Truist Financial raised their price target on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.50.

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.