Bank of New York Mellon Corp Sells 2,355 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Bank of New York Mellon Corp decreased its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,881 shares of the insurance provider’s stock after selling 2,355 shares during the period. Bank of New York Mellon Corp owned approximately 0.27% of Heritage Insurance worth $1,657,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Stifel Financial Corp raised its holdings in Heritage Insurance by 3.0% during the fourth 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 during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Heritage Insurance by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider’s stock valued at $162,000 after purchasing an additional 2,058 shares during the last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of Heritage Insurance by 21.7% in the fourth quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 2,210 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Heritage Insurance by 0.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 366,595 shares of the insurance provider’s stock valued at $4,436,000 after purchasing an additional 2,479 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Heritage Insurance by 8,472.2% in the first quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider’s stock valued at $450,000 after purchasing an additional 3,050 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Panagiotis Apostolou sold 25,000 shares of Heritage Insurance stock in a transaction on Friday, May 9th. The shares were sold at an average price of $25.40, for a total value of $635,000.00. Following the sale, the director owned 164,719 shares in the company, valued at $4,183,862.60. The trade was a 13.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 14.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Heritage Insurance Trading Down 0.1%

HRTG stock opened at $20.59 on Wednesday. The company has a market capitalization of $638.08 million, a PE ratio of 8.14 and a beta of 1.01. Heritage Insurance Holdings, Inc. has a one year low of $6.81 and a one year high of $26.64. The company’s 50 day moving average price is $22.83 and its two-hundred day moving average price is $17.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.46 by $0.53. Heritage Insurance had a net margin of 9.29% and a return on equity of 26.95%. The company had revenue of $211.52 million for the quarter, compared to the consensus estimate of $213.68 million. As a group, analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

About Heritage Insurance

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.