Heritage Insurance Holdings, Inc. $HRTG Shares Bought by Creative Planning

Creative Planning grew its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 19.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 37,913 shares of the insurance provider’s stock after purchasing an additional 6,277 shares during the period. Creative Planning’s holdings in Heritage Insurance were worth $946,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Heritage Insurance in the second quarter valued at approximately $25,000. Nisa Investment Advisors LLC lifted its stake in shares of Heritage Insurance by 2,413.6% in 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 lifted its stake in shares of Heritage Insurance by 252.3% in the 2nd quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 2,334 shares during the last quarter. Strs Ohio acquired a new stake in shares of Heritage Insurance during the 1st quarter worth about $127,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Heritage Insurance during the 1st quarter worth about $141,000. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Heritage Insurance Price Performance

Shares of HRTG opened at $28.93 on Monday. The company has a market cap of $894.07 million, a P/E ratio of 5.99 and a beta of 0.96. Heritage Insurance Holdings, Inc. has a fifty-two week low of $9.89 and a fifty-two week high of $31.98. 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 firm’s 50 day moving average price is $26.02 and its 200 day moving average price is $23.96.

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

Insider Buying and Selling

In other news, CEO Ernie J. Garateix sold 25,000 shares of Heritage Insurance stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $24.61, for a total value of $615,250.00. Following the completion of the transaction, the chief executive officer owned 1,245,808 shares in the company, valued at approximately $30,659,334.88. This trade represents a 1.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chairman owned 499,047 shares in the company, valued at $13,604,021.22. The trade was a 16.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 396,002 shares of company stock valued at $10,284,609. Company insiders own 14.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HRTG. Truist Financial increased their target price on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Weiss Ratings raised shares of Heritage Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Wall Street Zen downgraded shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Zacks Research upgraded Heritage Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.50.

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.