GSA Capital Partners LLP Purchases New Position in Heritage Insurance Holdings, Inc. $HRTG

GSA Capital Partners LLP purchased a new position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,194 shares of the insurance provider’s stock, valued at approximately $396,000. GSA Capital Partners LLP owned approximately 0.05% of Heritage Insurance at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HRTG. Advisory Services Network LLC purchased a new position in shares of Heritage Insurance during the 3rd quarter worth approximately $25,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Heritage Insurance during the fourth quarter valued at approximately $31,000. Royal Bank of Canada boosted its position in shares of Heritage Insurance by 72.6% during the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 497 shares in the last quarter. Optiver Holding B.V. grew its stake in Heritage Insurance by 510.0% in the first quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 1,173 shares during the period. Finally, Harbour Investments Inc. purchased a new stake in Heritage Insurance in the fourth quarter worth $50,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen raised Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research raised shares of Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Truist Financial increased their price target on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Piper Sandler lifted their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Heritage Insurance in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $36.50.

Heritage Insurance Stock Up 0.9%

HRTG stock opened at $33.92 on Friday. The business has a 50 day moving average of $28.39 and a 200 day moving average of $26.58. The firm has a market cap of $1.01 billion, a PE ratio of 4.83 and a beta of 0.89. Heritage Insurance Holdings, Inc. has a twelve month low of $20.48 and a twelve month high of $36.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.25 by $0.80. Heritage Insurance had a return on equity of 42.41% and a net margin of 25.19%.The business had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.71 million. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 5.5 EPS for the current fiscal year.

Insider Transactions at Heritage Insurance

In related news, insider Timothy E. Johns sold 3,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $33.68, for a total transaction of $117,880.00. Following the sale, the insider directly owned 25,438 shares of the company’s stock, valued at approximately $856,751.84. This represents a 12.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Sharon Binnun sold 9,200 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.03, for a total transaction of $276,276.00. Following the sale, the chief accounting officer owned 96,388 shares of the company’s stock, valued at approximately $2,894,531.64. This represents a 8.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 61,204 shares of company stock worth $1,866,683 over the last quarter. Corporate insiders own 9.20% of the company’s stock.

Heritage Insurance Profile

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.