Cwm LLC Buys 4,453 Shares of Heritage Insurance Holdings, Inc. $HRTG

Cwm LLC raised its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 44.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,404 shares of the insurance provider’s stock after acquiring an additional 4,453 shares during the quarter. Cwm LLC’s holdings in Heritage Insurance were worth $359,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Heritage Insurance in the 2nd quarter valued at approximately $25,000. Strs Ohio bought a new position in Heritage Insurance in the 1st quarter valued at approximately $127,000. Quantbot Technologies LP bought a new position in Heritage Insurance in the 1st quarter valued at approximately $141,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Heritage Insurance in the 1st quarter valued at approximately $144,000. Finally, Janney Montgomery Scott LLC bought a new position in Heritage Insurance in the 2nd quarter valued at approximately $254,000. Institutional investors own 59.03% of the company’s stock.

Heritage Insurance Stock Performance

Shares of HRTG stock opened at $24.39 on Friday. The company has a market cap of $756.48 million, a price-to-earnings ratio of 7.03 and a beta of 0.98. Heritage Insurance Holdings, Inc. has a 52 week low of $9.71 and a 52 week high of $29.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $24.15 and a 200-day moving average of $22.61.

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, beating the consensus estimate of $1.03 by $0.52. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. The business had revenue of $208.04 million during the quarter, compared to the consensus estimate of $212.12 million. On average, equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ernie J. Garateix sold 8,334 shares of Heritage Insurance stock in a transaction on Monday, October 20th. The shares were sold at an average price of $23.01, for a total value of $191,765.34. Following the completion of the sale, the chief executive officer owned 1,229,140 shares of the company’s stock, valued at approximately $28,282,511.40. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kirk Lusk sold 6,803 shares of Heritage Insurance stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $24.16, for a total transaction of $164,360.48. Following the completion of the sale, the chief financial officer directly owned 578,756 shares of the company’s stock, valued at approximately $13,982,744.96. The trade was a 1.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 302,668 shares of company stock worth $7,663,554 in the last quarter. Insiders own 15.20% of the company’s stock.

Wall Street Analyst Weigh In

HRTG has been the subject of a number of research reports. Wall Street Zen lowered shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Truist Financial raised their price objective on shares of Heritage Insurance from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Weiss Ratings raised shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Heritage Insurance has an average rating of “Moderate Buy” and an average price target of $31.50.

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.