Heritage Insurance Holdings, Inc. $HRTG Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 197.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,858 shares of the insurance provider’s stock after buying an additional 39,048 shares during the period. Los Angeles Capital Management LLC owned approximately 0.19% of Heritage Insurance worth $1,468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. USA Financial Formulas purchased a new position in Heritage Insurance in the second quarter valued at about $25,000. Nisa Investment Advisors LLC raised its position in shares of Heritage Insurance by 2,413.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 1,062 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Heritage Insurance by 252.3% during the 2nd quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock valued at $81,000 after buying an additional 2,334 shares during the last quarter. Strs Ohio acquired a new stake in shares of Heritage Insurance during the first quarter worth approximately $127,000. Finally, Quantbot Technologies LP bought a new stake in shares of Heritage Insurance in the first quarter worth $141,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Heritage Insurance Trading Up 2.0%

Heritage Insurance stock opened at $29.50 on Wednesday. Heritage Insurance Holdings, Inc. has a 1 year low of $9.89 and a 1 year high of $30.41. The firm’s 50-day moving average is $24.86 and its 200-day moving average is $23.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $915.03 million, a P/E ratio of 6.11 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last released 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. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. The firm had revenue of $212.46 million for the quarter, compared to analyst estimates of $210.12 million. On average, equities analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In other Heritage Insurance news, Chairman Richard A. Widdicombe sold 100,000 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $27.26, for a total value of $2,726,000.00. Following the sale, the chairman directly owned 499,047 shares of the company’s stock, valued at $13,604,021.22. This trade represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernie J. Garateix sold 8,334 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $23.01, for a total value of $191,765.34. Following the completion of the sale, the chief executive officer owned 1,229,140 shares in the company, valued at $28,282,511.40. The trade was a 0.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 322,668 shares of company stock valued at $8,147,141 over the last quarter. Company insiders own 14.00% of the company’s stock.

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.