AQR Capital Management LLC Increases Holdings in Heritage Insurance Holdings, Inc. $HRTG

AQR Capital Management LLC lifted its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509,080 shares of the insurance provider’s stock after purchasing an additional 40,220 shares during the period. AQR Capital Management LLC owned about 1.64% of Heritage Insurance worth $7,341,000 at the end of the most recent reporting period.

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

Heritage Insurance Stock Performance

Shares of NYSE HRTG opened at $23.88 on Friday. Heritage Insurance Holdings, Inc. has a 1-year low of $8.70 and a 1-year high of $26.64. The stock has a market cap of $740.76 million, a price-to-earnings ratio of 6.88 and a beta of 1.05. The stock’s 50-day moving average is $22.00 and its 200 day moving average is $20.04. 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 (NYSE:HRTG) last issued its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.52. The company had revenue of $208.04 million for the quarter, compared to analysts’ expectations of $212.12 million. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. On average, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HRTG shares. Zacks Research raised Heritage Insurance to a “strong-buy” rating in a report on Monday, August 11th. Wall Street Zen lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $29.00.

Insider Buying and Selling at Heritage Insurance

In related news, CAO Sharon Binnun sold 21,000 shares of Heritage Insurance stock in a transaction on Friday, September 5th. The shares were sold at an average price of $24.47, for a total value of $513,870.00. Following the sale, the chief accounting officer owned 176,006 shares in the company, 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 purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $20.50 per share, with a total value of $51,250.00. Following the completion of the purchase, the director 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. Corporate insiders own 15.20% of the company’s stock.

Heritage Insurance Company 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.