American Century Companies Inc. Purchases 167,819 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

American Century Companies Inc. lifted its position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 63.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 432,732 shares of the insurance provider’s stock after acquiring an additional 167,819 shares during the period. American Century Companies Inc.’s holdings in Heritage Insurance were worth $3,064,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Heritage Insurance during the second quarter valued at approximately $30,000. Valmark Advisers Inc. bought a new stake in shares of Heritage Insurance during the second quarter valued at approximately $80,000. Fortis Capital Advisors LLC bought a new stake in Heritage Insurance in the first quarter worth $134,000. Susquehanna Fundamental Investments LLC bought a new stake in Heritage Insurance in the first quarter worth $155,000. Finally, Instrumental Wealth LLC boosted its holdings 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 acquiring an additional 14,500 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on HRTG. StockNews.com downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 4th. Piper Sandler raised Heritage Insurance from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $13.00 in a report on Friday, August 9th. Finally, Truist Financial boosted their target price on Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a 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’s stock. According to data from MarketBeat.com, Heritage Insurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

Heritage Insurance Stock Down 2.7 %

HRTG stock opened at $15.51 on Friday. Heritage Insurance Holdings, Inc. has a 1-year low of $5.03 and a 1-year high of $16.90. The business has a fifty day moving average price of $12.83 and a 200-day moving average price of $10.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $475.16 million, a P/E ratio of 9.46 and a beta of 0.97.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share for the quarter, topping 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 firm had revenue of $203.57 million during the quarter, compared to analysts’ expectations 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 fiscal year.

Insider Transactions at Heritage Insurance

In other news, Chairman Richard A. Widdicombe acquired 4,437 shares of Heritage Insurance stock in a transaction that occurred on Friday, August 16th. The stock was bought 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 owns 696,497 shares in the company, valued at $10,134,031.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ernie J. Garateix acquired 5,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $8.59 per share, for a total transaction of $42,950.00. Following the completion of the transaction, the chief executive officer now owns 1,072,584 shares in the company, valued at $9,213,496.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Widdicombe acquired 4,437 shares of Heritage Insurance 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 transaction, the chairman now 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 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.