Victory Capital Management Inc. Grows Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Victory Capital Management Inc. lifted its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,000 shares of the insurance provider’s stock after buying an additional 4,000 shares during the quarter. Victory Capital Management Inc. owned approximately 0.35% of Heritage Insurance worth $750,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HRTG. Bank of New York Mellon Corp lifted its holdings in shares of Heritage Insurance by 263.3% in the second quarter. Bank of New York Mellon Corp now owns 87,814 shares of the insurance provider’s stock worth $622,000 after buying an additional 63,645 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Heritage Insurance in the first quarter worth $663,000. Rhumbline Advisers lifted its holdings in shares of Heritage Insurance by 2,282.1% in the second quarter. Rhumbline Advisers now owns 30,967 shares of the insurance provider’s stock worth $219,000 after buying an additional 29,667 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Heritage Insurance in the first quarter worth $155,000. Finally, Instrumental Wealth LLC increased its position in Heritage Insurance by 109.1% in the first quarter. Instrumental Wealth LLC now owns 27,791 shares of the insurance provider’s stock worth $296,000 after purchasing an additional 14,500 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HRTG. Piper Sandler upgraded shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $13.00 in a research report on Friday, August 9th. StockNews.com cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 4th. Finally, Truist Financial boosted their price target on shares of Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Insider Buying and Selling at Heritage Insurance

In other news, Chairman Richard A. Widdicombe acquired 4,437 shares of the business’s stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $14.55 per share, for a total transaction of $64,558.35. Following the completion of the transaction, the chairman now directly owns 696,497 shares of the company’s stock, valued at approximately $10,134,031.35. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Ernie J. Garateix bought 5,000 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $8.59 per share, with a total value of $42,950.00. Following the completion of the purchase, the chief executive officer now owns 1,072,584 shares of the company’s stock, valued at $9,213,496.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Richard A. Widdicombe bought 4,437 shares of the stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $14.55 per share, with a total value of $64,558.35. Following the completion of the purchase, the chairman now directly owns 696,497 shares of the company’s stock, valued at approximately $10,134,031.35. The disclosure for this purchase can be found here. Company insiders own 14.00% of the company’s stock.

Heritage Insurance Trading Down 3.1 %

HRTG stock opened at $15.66 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47. Heritage Insurance Holdings, Inc. has a twelve month low of $4.92 and a twelve month high of $16.90. The stock has a market capitalization of $479.76 million, a price-to-earnings ratio of 9.55 and a beta of 0.97. The firm’s fifty day simple moving average is $12.15 and its two-hundred day simple moving average is $9.85.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. Heritage Insurance had a net margin of 7.37% and a return on equity of 26.27%. The business had revenue of $203.57 million for the quarter, compared to analysts’ expectations of $196.81 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. As a group, analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.93 earnings per share for the current year.

Heritage Insurance Company 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.