Renaissance Technologies LLC Acquires 136,800 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Renaissance Technologies LLC raised its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 45.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 436,099 shares of the insurance provider’s stock after acquiring an additional 136,800 shares during the quarter. Renaissance Technologies LLC owned approximately 1.42% of Heritage Insurance worth $3,088,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Heritage Insurance in the 2nd quarter valued at approximately $30,000. Valmark Advisers Inc. acquired a new stake in shares of Heritage Insurance in the 2nd quarter valued at approximately $80,000. Fortis Capital Advisors LLC acquired a new stake in shares of Heritage Insurance in the 1st quarter valued at approximately $134,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Heritage Insurance in the 1st quarter valued at approximately $155,000. Finally, Rhumbline Advisers boosted its holdings in shares of Heritage Insurance by 2,282.1% in the 2nd quarter. Rhumbline Advisers now owns 30,967 shares of the insurance provider’s stock valued at $219,000 after buying an additional 29,667 shares during the last quarter. 59.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Heritage Insurance

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

Heritage Insurance Stock Down 21.1 %

HRTG opened at $12.24 on Tuesday. Heritage Insurance Holdings, Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $16.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $374.83 million, a P/E ratio of 7.46 and a beta of 0.97. The stock has a fifty day moving average of $13.09 and a 200-day moving average of $10.19.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. Heritage Insurance had a return on equity of 26.27% and a net margin of 7.37%. The company had revenue of $203.57 million for the quarter, compared to analysts’ expectations of $196.81 million. During the same quarter last year, the business earned $0.32 earnings per share. On average, equities analysts expect that Heritage Insurance Holdings, Inc. will post 1.93 EPS for the current year.

Analysts Set New Price Targets

HRTG has been the subject of several research reports. Truist Financial raised their price target on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 8th. StockNews.com downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 4th. Finally, Piper Sandler raised Heritage Insurance from a “neutral” rating to an “overweight” rating and raised their price target for the company from $9.00 to $13.00 in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Heritage Insurance has a consensus rating of “Moderate Buy” and an average target price of $10.67.

Heritage Insurance 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.