Vanguard Group Inc. Boosts Stock Position in Heritage Insurance Holdings, Inc. $HRTG

Vanguard Group Inc. raised its position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 14.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,881,027 shares of the insurance provider’s stock after buying an additional 234,296 shares during the quarter. Vanguard Group Inc. owned about 0.06% of Heritage Insurance worth $55,039,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Heritage Insurance by 1,078.7% in the second quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock worth $3,514,000 after buying an additional 128,927 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in shares of Heritage Insurance by 27.2% in the third quarter. Pacific Ridge Capital Partners LLC now owns 458,929 shares of the insurance provider’s stock worth $11,556,000 after buying an additional 98,246 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Heritage Insurance by 39.8% in the first quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock worth $4,657,000 after buying an additional 91,982 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Heritage Insurance by 11.5% in the third quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock worth $22,371,000 after buying an additional 91,847 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Heritage Insurance by 8.7% in the third quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock worth $25,793,000 after buying an additional 82,190 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

HRTG has been the topic of a number of recent research reports. Wall Street Zen downgraded Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial lowered their target price on Heritage Insurance from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Zacks Research downgraded Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, May 11th. Weiss Ratings downgraded Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Citigroup restated a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Heritage Insurance has an average rating of “Hold” and a consensus target price of $36.00.

Heritage Insurance Stock Performance

Shares of HRTG stock opened at $23.46 on Friday. The company has a market capitalization of $711.92 million, a P/E ratio of 3.60 and a beta of 1.03. The business’s 50 day moving average is $26.73 and its two-hundred day moving average is $26.99. The company has a current ratio of 0.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Heritage Insurance Holdings, Inc. has a 12-month low of $16.83 and a 12-month high of $31.98.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.34). The business had revenue of $212.66 million for the quarter, compared to analysts’ expectations of $215.39 million. Heritage Insurance had a return on equity of 43.68% and a net margin of 23.76%. Analysts expect that Heritage Insurance Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Heritage Insurance news, CEO Ernie J. Garateix sold 8,334 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $27.56, for a total transaction of $229,685.04. Following the transaction, the chief executive officer owned 1,060,955 shares in the company, valued at approximately $29,239,919.80. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Sharon Binnun sold 9,200 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $25.72, for a total value of $236,624.00. Following the transaction, the chief accounting officer owned 133,188 shares in the company, valued at $3,425,595.36. This represents a 6.46% 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. Over the last 90 days, insiders have sold 130,918 shares of company stock worth $3,446,606. 15.20% of the stock is owned by corporate insiders.

About Heritage Insurance

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.