Boston Partners Decreases Stock Position in Heritage Insurance Holdings, Inc. $HRTG

Boston Partners cut its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 43.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,018 shares of the insurance provider’s stock after selling 34,488 shares during the quarter. Boston Partners owned about 0.15% of Heritage Insurance worth $1,123,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HRTG. USA Financial Formulas purchased a new stake in shares of Heritage Insurance in the second quarter valued at $25,000. Nisa Investment Advisors LLC grew its holdings in Heritage Insurance by 2,413.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 1,062 shares during the last quarter. AlphaQuest LLC raised its position in Heritage Insurance by 252.3% in the 2nd quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock worth $81,000 after purchasing an additional 2,334 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in Heritage Insurance by 33.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,749 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 1,432 shares during the last quarter. Finally, Strs Ohio bought a new stake in Heritage Insurance in the first quarter worth about $127,000. Institutional investors own 59.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Wall Street Zen downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Truist Financial lifted their target price on Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Weiss Ratings raised shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $32.50.

Insider Buying and Selling at Heritage Insurance

In other news, CEO Ernie J. Garateix sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $24.61, for a total value of $615,250.00. Following the completion of the sale, the chief executive officer owned 1,245,808 shares of the company’s stock, valued at approximately $30,659,334.88. This represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirk Lusk sold 20,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $24.17, for a total transaction of $483,400.00. Following the transaction, the chief financial officer owned 598,756 shares in the company, valued at approximately $14,471,932.52. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 396,002 shares of company stock valued at $10,284,609 in the last 90 days. Insiders own 14.00% of the company’s stock.

Heritage Insurance Trading Up 1.1%

HRTG opened at $28.93 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $26.02 and its two-hundred day moving average is $23.96. The company has a market capitalization of $894.07 million, a P/E ratio of 5.99 and a beta of 0.96. Heritage Insurance Holdings, Inc. has a 52 week low of $9.89 and a 52 week high of $31.98.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $1.10. The business had revenue of $212.46 million for the quarter, compared to the consensus estimate of $210.12 million. Heritage Insurance had a return on equity of 41.44% and a net margin of 17.72%. Analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Heritage Insurance 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.