32,342 Shares in Heritage Insurance Holdings, Inc. $HRTG Acquired by PEAK6 LLC

PEAK6 LLC purchased a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 32,342 shares of the insurance provider’s stock, valued at approximately $843,000.

Several other hedge funds have also added to or reduced their stakes in HRTG. Advisory Services Network LLC bought a new position in Heritage Insurance during the third quarter worth $25,000. Mcguire Capital Advisors Inc. bought a new stake in Heritage Insurance during the 4th quarter worth approximately $31,000. Royal Bank of Canada lifted its stake in Heritage Insurance by 72.6% during the 4th quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 497 shares in the last quarter. Optiver Holding B.V. boosted its holdings in Heritage Insurance by 510.0% during the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 1,173 shares during the last quarter. Finally, Pinnacle Holdings LLC bought a new position in shares of Heritage Insurance in the second quarter valued at approximately $48,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Kirk Lusk sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.16, for a total value of $341,600.00. Following the transaction, the chief financial officer directly owned 492,522 shares in the company, valued at approximately $16,824,551.52. This represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy Moura sold 15,104 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $32.49, for a total transaction of $490,728.96. Following the completion of the sale, the insider directly owned 144,941 shares in the company, valued at $4,709,133.09. This represents a 9.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,204 shares of company stock valued at $1,866,683 in the last ninety days. 9.20% of the stock is owned by insiders.

Heritage Insurance Price Performance

HRTG stock opened at $33.92 on Monday. The firm has a 50 day moving average of $28.39 and a 200-day moving average of $26.58. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.01 billion, a P/E ratio of 4.83 and a beta of 0.89. Heritage Insurance Holdings, Inc. has a 12 month low of $20.48 and a 12 month high of $36.50.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.80. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. The business had revenue of $214.19 million for the quarter, compared to analysts’ expectations of $212.71 million. As a group, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Piper Sandler upped their price target on Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Heritage Insurance in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Heritage Insurance currently has a consensus rating of “Buy” and a consensus price target of $36.50.

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.