Vanguard Group Inc. Sells 194,675 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Vanguard Group Inc. lowered its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 15.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,096,035 shares of the insurance provider’s stock after selling 194,675 shares during the period. Vanguard Group Inc. owned approximately 3.58% of Heritage Insurance worth $11,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Heritage Insurance during the 4th quarter worth approximately $40,000. Fortis Capital Advisors LLC bought a new stake in shares of Heritage Insurance during the first quarter worth $134,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Heritage Insurance during the first quarter valued at $155,000. Victory Capital Management Inc. boosted its stake in shares of Heritage Insurance by 13.0% during the fourth quarter. Victory Capital Management Inc. now owns 104,000 shares of the insurance provider’s stock valued at $678,000 after purchasing an additional 12,000 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Heritage Insurance by 8.1% in the first quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider’s stock worth $1,030,000 after purchasing an additional 7,203 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Heritage Insurance Trading Up 11.9 %

Shares of NYSE HRTG opened at $12.04 on Wednesday. Heritage Insurance Holdings, Inc. has a 1-year low of $4.28 and a 1-year high of $12.12. The stock has a market capitalization of $368.86 million, a P/E ratio of 7.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. The business has a fifty day moving average price of $7.58 and a 200 day moving average price of $8.10.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.38 by $0.23. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. The business had revenue of $203.57 million during the quarter, compared to the consensus estimate of $196.81 million. During the same period in the previous year, the firm posted $0.32 earnings per share. Equities research analysts expect that Heritage Insurance Holdings, Inc. will post 1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HRTG. Truist Financial lifted their price objective on shares of Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Piper Sandler upgraded Heritage Insurance from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $13.00 in a report on Friday, August 9th. Finally, StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.67.

Insider Activity at Heritage Insurance

In other news, Director Paul L. Whiting bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $7.74 per share, for a total transaction of $38,700.00. Following the completion of the transaction, the director now directly owns 64,662 shares in the company, valued at approximately $500,483.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 14.00% of the stock is owned by corporate 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.