nVerses Capital LLC Purchases Shares of 4,000 Heritage Insurance Holdings, Inc. (NYSE:HRTG)

nVerses Capital LLC acquired a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,000 shares of the insurance provider’s stock, valued at approximately $49,000.

A number of other hedge funds have also recently bought and sold shares of the stock. ClariVest Asset Management LLC increased its position in Heritage Insurance by 2.7% during the second quarter. ClariVest Asset Management LLC now owns 61,396 shares of the insurance provider’s stock worth $435,000 after buying an additional 1,620 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Heritage Insurance by 3.9% during the second quarter. Victory Capital Management Inc. now owns 106,000 shares of the insurance provider’s stock worth $750,000 after purchasing an additional 4,000 shares during the period. Innealta Capital LLC acquired a new stake in Heritage Insurance during the 2nd quarter worth approximately $30,000. Empowered Funds LLC boosted its position in shares of Heritage Insurance by 8.1% in the first quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider’s stock valued at $1,030,000 after acquiring an additional 7,203 shares during the period. Finally, Valmark Advisers Inc. bought a new stake in Heritage Insurance in the 2nd quarter valued at about $80,000. 59.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ernie J. Garateix bought 5,000 shares of Heritage Insurance stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $8.59 per share, for a total transaction of $42,950.00. Following the purchase, the chief executive officer now directly owns 1,072,584 shares in the company, valued at approximately $9,213,496.56. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Heritage Insurance news, CEO Ernie J. Garateix acquired 5,000 shares of Heritage Insurance stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $8.59 per share, for a total transaction of $42,950.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,072,584 shares of the company’s stock, valued at $9,213,496.56. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard A. Widdicombe bought 4,437 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average price of $14.55 per share, for a total transaction of $64,558.35. Following the acquisition, the chairman now directly owns 696,497 shares in the company, valued at $10,134,031.35. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 14.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HRTG. Truist Financial boosted their price target on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler upgraded shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $9.00 to $13.00 in a report on Friday, August 9th. Finally, StockNews.com lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 18th. One investment 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $10.67.

Heritage Insurance Stock Down 1.2 %

Shares of NYSE HRTG opened at $10.05 on Wednesday. The company’s 50 day moving average price is $13.84 and its 200-day moving average price is $10.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Insurance Holdings, Inc. has a 52-week low of $5.27 and a 52-week high of $16.90. The company has a market capitalization of $307.89 million, a P/E ratio of 6.13 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $196.81 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. Equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.93 earnings per share for the current year.

About Heritage Insurance

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.