Cubist Systematic Strategies LLC Invests $751,000 in Heritage Insurance Holdings, Inc. $HRTG

Cubist Systematic Strategies LLC bought a new stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 52,060 shares of the insurance provider’s stock, valued at approximately $751,000. Cubist Systematic Strategies LLC owned about 0.17% of Heritage Insurance as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triumph Capital Management bought a new position in shares of Heritage Insurance during the 4th quarter valued at $121,000. Quantbot Technologies LP bought a new stake in Heritage Insurance in the first quarter valued at approximately $141,000. CWM LLC lifted its position in Heritage Insurance by 83.7% in the first quarter. CWM LLC now owns 9,951 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 4,535 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Heritage Insurance in the first quarter valued at approximately $144,000. Finally, Deutsche Bank AG lifted its position in Heritage Insurance by 23.7% in the fourth quarter. Deutsche Bank AG now owns 16,744 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 3,208 shares during the last quarter. Institutional investors own 59.03% of the company’s stock.

Insider Transactions at Heritage Insurance

In related news, CAO Sharon Binnun sold 21,000 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $24.47, for a total transaction of $513,870.00. Following the sale, the chief accounting officer owned 176,006 shares of the company’s stock, valued at $4,306,866.82. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul L. Whiting acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $20.50 per share, for a total transaction of $51,250.00. Following the purchase, the director directly owned 87,126 shares of the company’s stock, valued at $1,786,083. This represents a 2.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 14.00% of the company’s stock.

Heritage Insurance Trading Up 0.4%

Shares of HRTG opened at $23.83 on Wednesday. The firm’s 50-day moving average price is $22.00 and its 200-day moving average price is $19.94. The firm has a market capitalization of $739.08 million, a price-to-earnings ratio of 6.87 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. Heritage Insurance Holdings, Inc. has a 1-year low of $8.70 and a 1-year high of $26.64.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.52. The firm had revenue of $208.04 million for the quarter, compared to analyst estimates of $212.12 million. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. Sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of Heritage Insurance to a “strong-buy” rating in a research report on Monday, August 11th. Wall Street Zen cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, Heritage Insurance has an average rating of “Buy” and an average target price of $29.00.

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.