GSA Capital Partners LLP Makes New Investment in Heritage Insurance Holdings, Inc. $HRTG

GSA Capital Partners LLP purchased a new position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) in the 2nd quarter, Holdings Channel reports. The firm purchased 15,194 shares of the insurance provider’s stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Optiver Holding B.V. increased its holdings in Heritage Insurance by 510.0% in the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after buying an additional 1,173 shares in the last quarter. Bank of America Corp DE raised its position in Heritage Insurance by 92.5% in the 1st quarter. Bank of America Corp DE now owns 194,689 shares of the insurance provider’s stock worth $5,111,000 after buying an additional 93,548 shares during the last quarter. Empowered Funds LLC lifted its stake in Heritage Insurance by 6.5% during the 1st quarter. Empowered Funds LLC now owns 162,178 shares of the insurance provider’s stock valued at $4,257,000 after acquiring an additional 9,924 shares during the period. Quantinno Capital Management LP lifted its stake in Heritage Insurance by 26.7% during the 1st quarter. Quantinno Capital Management LP now owns 23,781 shares of the insurance provider’s stock valued at $624,000 after acquiring an additional 5,015 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Heritage Insurance by 52.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider’s stock valued at $5,740,000 after acquiring an additional 75,339 shares during the last quarter. 59.03% of the stock is owned by institutional investors.

Heritage Insurance Trading Up 0.9%

Shares of NYSE:HRTG opened at $33.92 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s 50-day simple moving average is $28.39 and its two-hundred day simple moving average is $26.58. Heritage Insurance Holdings, Inc. has a 52-week low of $20.48 and a 52-week high of $36.50.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, beating 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 firm had revenue of $214.19 million during the quarter, compared to analyst estimates of $212.71 million. Analysts expect that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Heritage Insurance

In other news, insider Timothy Moura sold 15,104 shares of Heritage Insurance stock in a transaction 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 transaction, the insider owned 144,941 shares in the company, valued at $4,709,133.09. This trade represents a 9.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Timothy E. Johns sold 3,500 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $33.68, for a total transaction of $117,880.00. Following the sale, the insider directly owned 25,438 shares of the company’s stock, valued at approximately $856,751.84. The trade was a 12.09% 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. Insiders sold 61,204 shares of company stock valued at $1,866,683 in the last quarter. Insiders own 9.20% of the company’s stock.

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.