D. E. Shaw & Co. Inc. Has $607,000 Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

D. E. Shaw & Co. Inc. decreased its position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 60.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,145 shares of the insurance provider’s stock after selling 75,172 shares during the period. D. E. Shaw & Co. Inc. owned 0.16% of Heritage Insurance worth $607,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Segall Bryant & Hamill LLC lifted its stake in Heritage Insurance by 176.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 348,556 shares of the insurance provider’s stock valued at $4,218,000 after acquiring an additional 222,689 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Heritage Insurance by 33.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider’s stock valued at $9,844,000 after purchasing an additional 205,195 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Heritage Insurance by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider’s stock valued at $18,993,000 after purchasing an additional 193,590 shares during the last quarter. Invesco Ltd. lifted its position in shares of Heritage Insurance by 24.0% in the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider’s stock worth $11,430,000 after buying an additional 182,624 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Heritage Insurance by 49.6% during the 4th quarter. AQR Capital Management LLC now owns 468,860 shares of the insurance provider’s stock valued at $5,673,000 after acquiring an additional 155,358 shares during the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Heritage Insurance news, CEO Ernie J. Garateix purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now directly owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. The trade was a 0.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul L. Whiting bought 10,000 shares of Heritage Insurance stock in a transaction dated Friday, March 14th. The shares were bought at an average price of $13.35 per share, for a total transaction of $133,500.00. Following the completion of the transaction, the director now directly owns 79,576 shares of the company’s stock, valued at $1,062,339.60. This represents a 14.37% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 21,000 shares of company stock worth $280,450. 15.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler boosted their target price on Heritage Insurance from $19.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Wall Street Zen upgraded Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Truist Financial boosted their price objective on shares of Heritage Insurance from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th.

Heritage Insurance Stock Up 2.1%

HRTG stock opened at $23.43 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. Heritage Insurance Holdings, Inc. has a 52-week low of $6.14 and a 52-week high of $26.64. The company has a 50-day moving average of $18.65 and a two-hundred day moving average of $14.25. The stock has a market capitalization of $726.10 million, a price-to-earnings ratio of 9.37 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.53. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The business had revenue of $211.52 million during the quarter, compared to analysts’ expectations of $213.68 million. As a group, equities research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

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.