Triumph Capital Management Takes Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Triumph Capital Management bought a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 10,019 shares of the insurance provider’s stock, valued at approximately $121,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Heritage Insurance by 49.6% in the 4th quarter. AQR Capital Management LLC now owns 468,860 shares of the insurance provider’s stock valued at $5,673,000 after buying an additional 155,358 shares during the period. Aquatic Capital Management LLC acquired a new position in Heritage Insurance in the 4th quarter worth about $150,000. Susquehanna Fundamental Investments LLC purchased a new stake in Heritage Insurance during the 4th quarter worth approximately $1,154,000. Stifel Financial Corp increased its stake in Heritage Insurance by 3.0% during the 4th quarter. Stifel Financial Corp now owns 56,825 shares of the insurance provider’s stock worth $688,000 after buying an additional 1,640 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Heritage Insurance by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider’s stock worth $18,993,000 after buying an additional 193,590 shares in the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Insurance Stock Up 2.2%

HRTG opened at $24.49 on Monday. The business’s 50-day simple moving average is $17.55 and its 200-day simple moving average is $13.79. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $26.64. The stock has a market capitalization of $759.11 million, a P/E ratio of 9.80 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.53. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The company had revenue of $211.52 million for the quarter, compared to analyst estimates of $213.68 million. Analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

HRTG has been the subject of several recent research reports. StockNews.com raised Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Truist Financial increased their price target on Heritage Insurance from $20.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, Piper Sandler raised their target price on Heritage Insurance from $19.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th.

Insider Activity at Heritage Insurance

In other news, CFO Kirk Lusk bought 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $13.85 per share, with a total value of $83,100.00. Following the transaction, the chief financial officer now owns 618,756 shares of the company’s stock, valued at $8,569,770.60. This represents a 0.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Panagiotis Apostolou sold 25,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $25.40, for a total value of $635,000.00. Following the completion of the transaction, the director now directly owns 164,719 shares in the company, valued at $4,183,862.60. This trade represents a 13.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 21,000 shares of company stock valued at $280,450. 15.20% of the stock is owned by corporate insiders.

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.