Assenagon Asset Management S.A. Boosts Stock Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Assenagon Asset Management S.A. grew its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 87.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 235,019 shares of the insurance provider’s stock after buying an additional 109,714 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Heritage Insurance were worth $2,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of Heritage Insurance by 226.3% during the second quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock worth $2,903,000 after purchasing an additional 284,710 shares in the last quarter. American Century Companies Inc. increased its position in shares of Heritage Insurance by 63.3% during the second quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock worth $3,064,000 after purchasing an additional 167,819 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Heritage Insurance by 45.7% during the second quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock worth $3,088,000 after purchasing an additional 136,800 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Heritage Insurance by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock worth $10,016,000 after purchasing an additional 96,923 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Heritage Insurance by 263.3% during the second quarter. Bank of New York Mellon Corp now owns 87,814 shares of the insurance provider’s stock worth $622,000 after purchasing an additional 63,645 shares in the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Insurance Stock Performance

NYSE HRTG opened at $10.75 on Thursday. The stock’s fifty day moving average is $13.45 and its two-hundred day moving average is $10.28. The firm has a market capitalization of $329.34 million, a P/E ratio of 6.55 and a beta of 0.95. 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 fifty-two week low of $5.51 and a fifty-two week high of $16.90.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.38 by $0.23. Heritage Insurance had a return on equity of 26.27% and a net margin of 7.37%. 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 prior year, the company posted $0.32 EPS. On average, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.29 earnings per share for the current year.

Insider Activity

In other news, CEO Ernie J. Garateix bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $8.59 per share, with a total value of $42,950.00. Following the purchase, the chief executive officer now owns 1,072,584 shares in the company, valued at approximately $9,213,496.56. The trade was a 0.00 % increase in their ownership of the stock. 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 bought 4,437 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $14.55 per share, with a total value of $64,558.35. Following the purchase, the chairman now owns 696,497 shares in the company, valued at approximately $10,134,031.35. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ernie J. Garateix bought 5,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 1,072,584 shares in the company, valued at $9,213,496.56. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 14.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on HRTG shares. Piper Sandler upgraded 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. Truist Financial boosted their price target on Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, StockNews.com lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.