84,250 Shares in Heritage Insurance Holdings, Inc. $HRTG Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) in the first quarter, Holdings Channel.com reports. The fund purchased 84,250 shares of the insurance provider’s stock, valued at approximately $2,212,000.

Other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in Heritage Insurance in the third quarter worth $25,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Heritage Insurance in the fourth quarter valued at $31,000. Royal Bank of Canada increased its stake in shares of Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $35,000 after buying an additional 497 shares in the last quarter. Harbour Investments Inc. bought a new position in shares of Heritage Insurance in the fourth quarter valued at about $50,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Heritage Insurance by 2,178.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,709 shares of the insurance provider’s stock worth $50,000 after buying an additional 1,634 shares in the last quarter. Institutional investors own 59.03% of the company’s stock.

Insider Activity

In other Heritage Insurance news, Director Paul L. Whiting acquired 16,000 shares of Heritage Insurance stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $23.56 per share, with a total value of $376,960.00. Following the completion of the purchase, the director owned 103,126 shares in the company, valued at $2,429,648.56. The trade was a 18.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sharon Binnun sold 9,200 shares of Heritage Insurance stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $26.58, for a total transaction of $244,536.00. Following the sale, the chief accounting officer directly owned 105,588 shares of the company’s stock, valued at $2,806,529.04. This represents a 8.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 35,934 shares of company stock valued at $965,041. 9.20% of the stock is currently owned by insiders.

Heritage Insurance Trading Up 0.2%

Shares of HRTG opened at $27.25 on Thursday. The stock’s fifty day simple moving average is $24.23 and its 200-day simple moving average is $25.92. The firm has a market capitalization of $827.04 million, a PE ratio of 4.18 and a beta of 0.88. Heritage Insurance Holdings, Inc. has a 12-month low of $16.83 and a 12-month high of $31.98. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.34). The firm had revenue of $212.66 million during the quarter, compared to analyst estimates of $215.39 million. Heritage Insurance had a return on equity of 43.68% and a net margin of 23.76%. As a group, research analysts predict that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on HRTG shares. Truist Financial decreased their price objective on shares of Heritage Insurance from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Weiss Ratings lowered shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Heritage Insurance currently has an average rating of “Hold” and a consensus target price of $36.00.

Heritage Insurance Profile

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.