188,809 Shares in Heritage Insurance Holdings, Inc. $HRTG Acquired by Quartz Partners LLC

Quartz Partners LLC acquired a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 188,809 shares of the insurance provider’s stock, valued at approximately $4,924,000. Heritage Insurance comprises approximately 1.6% of Quartz Partners LLC’s holdings, making the stock its 21st largest holding.

Other large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of Heritage Insurance during the 3rd quarter valued at about $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Heritage Insurance in the fourth quarter valued at about $31,000. Royal Bank of Canada increased its position in Heritage Insurance by 72.6% during the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 497 shares during the last quarter. Optiver Holding B.V. increased its position 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, Harbour Investments Inc. purchased a new position in Heritage Insurance during the fourth quarter worth about $50,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Insurance Trading Down 0.9%

NYSE HRTG opened at $33.38 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $992.39 million, a P/E ratio of 4.75 and a beta of 0.89. The firm’s 50-day moving average is $27.94 and its two-hundred day moving average is $26.48. 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 announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. The business had revenue of $214.19 million during the quarter, compared to analysts’ expectations of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 42.41%. On average, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 5.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Heritage Insurance

In other news, CFO Kirk Lusk sold 10,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.16, for a total transaction of $341,600.00. Following the completion of the transaction, the chief financial officer directly owned 492,522 shares of the company’s stock, valued at approximately $16,824,551.52. The trade was a 1.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sharon Binnun sold 9,200 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $30.03, for a total transaction of $276,276.00. Following the transaction, the chief accounting officer owned 96,388 shares of the company’s stock, valued at $2,894,531.64. This trade represents a 8.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 57,704 shares of company stock worth $1,748,803. 9.20% of the stock is owned by company insiders.

Heritage Insurance Company 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.