Y Intercept Hong Kong Ltd Purchases New Holdings in Heritage Insurance Holdings, Inc. $HRTG

Y Intercept Hong Kong Ltd acquired a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 39,060 shares of the insurance provider’s stock, valued at approximately $984,000.

Other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in shares of Heritage Insurance in the 3rd quarter valued at $26,000. Nisa Investment Advisors LLC grew its position in Heritage Insurance by 2,413.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 1,062 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Heritage Insurance in the 3rd quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Heritage Insurance in the third quarter valued at about $66,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Heritage Insurance by 77.3% during the second quarter. BNP Paribas Financial Markets now owns 3,035 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 1,323 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors.

Heritage Insurance Stock Down 1.4%

HRTG stock opened at $26.08 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82. Heritage Insurance Holdings, Inc. has a fifty-two week low of $9.89 and a fifty-two week high of $31.98. The stock’s 50 day simple moving average is $27.74 and its 200 day simple moving average is $25.34. The company has a market cap of $806.13 million, a P/E ratio of 5.40 and a beta of 0.96.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $1.10. The company had revenue of $212.46 million for the quarter, compared to analysts’ expectations of $210.12 million. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%. On average, research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Truist Financial increased their price objective on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Insurance in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Heritage Insurance currently has an average rating of “Moderate Buy” and an average target price of $32.50.

Insider Activity

In other Heritage Insurance news, CFO Kirk Lusk sold 19,929 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $24.18, for a total value of $481,883.22. Following the completion of the sale, the chief financial officer directly owned 558,756 shares of the company’s stock, valued at approximately $13,510,720.08. This represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Richard A. Widdicombe sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $29.40, for a total value of $1,470,000.00. Following the completion of the transaction, the chairman directly owned 449,047 shares of the company’s stock, valued at approximately $13,201,981.80. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 133,333 shares of company stock worth $3,745,308 over the last 90 days. 14.00% of the stock is currently owned by corporate insiders.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.