AlphaQuest LLC Increases Holdings in Heritage Insurance Holdings, Inc. $HRTG

AlphaQuest LLC increased its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 252.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 3,259 shares of the insurance provider’s stock after buying an additional 2,334 shares during the quarter. AlphaQuest LLC’s holdings in Heritage Insurance were worth $81,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Arkadios Wealth Advisors purchased a new position in shares of Heritage Insurance during the 1st quarter valued at $1,727,000. Nuveen LLC purchased a new position in shares of Heritage Insurance in the first quarter worth about $1,495,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Heritage Insurance during the 2nd quarter valued at approximately $2,499,000. Millennium Management LLC boosted its holdings in Heritage Insurance by 39.8% in the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock worth $4,657,000 after buying an additional 91,982 shares during the period. Finally, American Century Companies Inc. raised its holdings in Heritage Insurance by 14.7% during the 1st 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 period. Institutional investors own 59.03% of the company’s stock.

Analyst Ratings Changes

HRTG has been the subject of several recent research reports. Wall Street Zen cut Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Zacks Research cut shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Truist Financial boosted their price target on shares of Heritage Insurance from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Finally, Weiss Ratings upgraded Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Heritage Insurance Stock Up 3.8%

HRTG opened at $24.83 on Thursday. Heritage Insurance Holdings, Inc. has a 12 month low of $9.89 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 business’s 50-day moving average price is $24.38 and its 200-day moving average price is $23.02. The company has a market cap of $770.18 million, a P/E ratio of 7.16 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $1.10. Heritage Insurance had a return on equity of 33.36% and a net margin of 12.71%.The business had revenue of $212.46 million for the quarter, compared to analysts’ expectations of $210.12 million. On average, equities analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Activity at Heritage Insurance

In related news, Chairman Richard A. Widdicombe sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $27.26, for a total transaction of $2,726,000.00. Following the completion of the transaction, the chairman owned 499,047 shares in the company, valued at $13,604,021.22. This represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ernie J. Garateix sold 25,000 shares of Heritage Insurance stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $24.61, for a total transaction of $615,250.00. Following the sale, the chief executive officer directly owned 1,245,808 shares in the company, valued at $30,659,334.88. The trade was a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 302,668 shares of company stock worth $7,663,554 over the last 90 days. 15.20% of the stock is owned by insiders.

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.