Victory Capital Management Inc. Raises Stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Victory Capital Management Inc. raised its position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 23.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,500 shares of the insurance provider’s stock after purchasing an additional 20,500 shares during the quarter. Victory Capital Management Inc. owned 0.40% of Heritage Insurance worth $410,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in shares of Heritage Insurance in the third quarter worth $25,000. Atria Wealth Solutions Inc. purchased a new position in shares of Heritage Insurance in the second quarter worth $29,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Heritage Insurance in the first quarter worth $31,000. Independent Advisor Alliance purchased a new position in shares of Heritage Insurance in the first quarter worth $38,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Heritage Insurance in the first quarter worth $39,000. Hedge funds and other institutional investors own 31.51% of the company’s stock.

Heritage Insurance Price Performance

Heritage Insurance stock opened at $7.00 on Friday. The company has a market cap of $178.92 million, a price-to-earnings ratio of -14.00 and a beta of 0.65. The firm’s fifty day moving average is $5.48 and its 200 day moving average is $4.80. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.77. Heritage Insurance Holdings, Inc. has a 52-week low of $1.12 and a 52-week high of $7.44.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, August 8th. The insurance provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. Heritage Insurance had a negative net margin of 1.99% and a negative return on equity of 9.51%. The business had revenue of $185.31 million for the quarter, compared to analysts’ expectations of $168.53 million. Sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post 1.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on HRTG shares. TheStreet raised shares of Heritage Insurance from a “d” rating to a “c-” rating in a report on Wednesday. Piper Sandler lowered their target price on shares of Heritage Insurance from $6.35 to $5.70 in a report on Friday, October 6th. StockNews.com initiated coverage on shares of Heritage Insurance in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, JMP Securities upped their price target on shares of Heritage Insurance from $5.00 to $6.00 and gave the company a “market outperform” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.57.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; and rental property insurance in the states of 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.