Janney Montgomery Scott LLC Buys New Stake in Heritage Insurance Holdings, Inc. $HRTG

Janney Montgomery Scott LLC bought a new stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,179 shares of the insurance provider’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its position in Heritage Insurance by 14.7% during the first quarter. American Century Companies Inc. now owns 676,814 shares of the insurance provider’s stock valued at $9,760,000 after acquiring an additional 86,915 shares during the last quarter. AQR Capital Management LLC lifted its position in Heritage Insurance by 8.6% during the first quarter. AQR Capital Management LLC now owns 509,080 shares of the insurance provider’s stock valued at $7,341,000 after acquiring an additional 40,220 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Heritage Insurance by 8.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 485,631 shares of the insurance provider’s stock valued at $7,003,000 after acquiring an additional 37,763 shares during the last quarter. Millennium Management LLC lifted its position in Heritage Insurance by 39.8% during the first quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock valued at $4,657,000 after acquiring an additional 91,982 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Heritage Insurance by 8.4% in the 1st quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock worth $1,800,000 after purchasing an additional 9,728 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Heritage Insurance Stock Performance

HRTG opened at $23.17 on Tuesday. Heritage Insurance Holdings, Inc. has a 12-month low of $9.71 and a 12-month high of $29.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $718.80 million, a PE ratio of 6.68 and a beta of 0.98. The firm has a 50 day moving average of $24.00 and a two-hundred day moving average of $22.41.

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

Analyst Ratings Changes

HRTG has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on shares of Heritage Insurance from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Zacks Research cut shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Heritage Insurance in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Heritage Insurance has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Insider Activity at Heritage Insurance

In other news, CEO Ernie J. Garateix sold 25,000 shares of Heritage Insurance stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $24.61, for a total transaction of $615,250.00. Following the completion of the transaction, the chief executive officer directly owned 1,245,808 shares of the company’s stock, valued at $30,659,334.88. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Widdicombe sold 100,000 shares of Heritage Insurance stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $27.26, for a total transaction of $2,726,000.00. Following the transaction, the chairman directly owned 499,047 shares of the company’s stock, valued at approximately $13,604,021.22. This trade represents a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 294,334 shares of company stock worth $7,471,788 in the last ninety days. 14.00% of the stock is owned by company insiders.

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.