Heritage Insurance Holdings, Inc. (NYSE:HRTG) Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC trimmed its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 660,272 shares of the insurance provider’s stock after selling 27,121 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in Heritage Insurance were worth $4,675,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in Heritage Insurance by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock worth $10,016,000 after buying an additional 96,923 shares during the last quarter. Renaissance Technologies LLC grew 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 acquiring an additional 136,800 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Heritage Insurance by 63.3% in the 2nd quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock worth $3,064,000 after acquiring an additional 167,819 shares during the period. Acadian Asset Management LLC lifted its position in Heritage Insurance by 226.3% in the 2nd quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock valued at $2,903,000 after purchasing an additional 284,710 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Heritage Insurance by 5.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 232,105 shares of the insurance provider’s stock valued at $1,643,000 after purchasing an additional 11,745 shares during the period. 59.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HRTG. StockNews.com cut 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 lifted their target price for the company from $9.00 to $13.00 in a research note on Friday, August 9th. Finally, Truist Financial increased their price target on Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.67.

Insider Buying and Selling at Heritage Insurance

In related news, Chairman Richard A. Widdicombe purchased 4,437 shares of the firm’s 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 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 acquired at an average price of $14.55 per share, for a total transaction of $64,558.35. Following the completion of the acquisition, the chairman now directly owns 696,497 shares of the company’s stock, valued at $10,134,031.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ernie J. Garateix acquired 5,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the chief executive officer now directly owns 1,072,584 shares in the company, valued at approximately $9,213,496.56. The disclosure for this purchase can be found here. 14.00% of the stock is owned by corporate insiders.

Heritage Insurance Price Performance

NYSE HRTG opened at $15.51 on Friday. The firm has a market capitalization of $475.16 million, a PE ratio of 9.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.76 and a quick ratio of 0.76. Heritage Insurance Holdings, Inc. has a 12 month low of $5.03 and a 12 month high of $16.90. The company’s 50 day simple moving average is $12.83 and its 200 day simple moving average is $10.08.

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