Annis Gardner Whiting Capital Advisors LLC Raises Stake in Heritage Insurance Holdings, Inc. $HRTG

Annis Gardner Whiting Capital Advisors LLC increased its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 514.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 76,798 shares of the insurance provider’s stock after acquiring an additional 64,298 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Heritage Insurance were worth $1,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its stake in Heritage Insurance by 58.9% in the 2nd quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider’s stock worth $23,498,000 after acquiring an additional 349,168 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Heritage Insurance by 17.7% in the second quarter. American Century Companies Inc. now owns 796,605 shares of the insurance provider’s stock valued at $19,867,000 after purchasing an additional 119,791 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Heritage Insurance by 33.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,773 shares of the insurance provider’s stock worth $16,180,000 after purchasing an additional 163,142 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Heritage Insurance by 69.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock worth $13,128,000 after purchasing an additional 216,019 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Heritage Insurance by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 517,803 shares of the insurance provider’s stock worth $12,917,000 after purchasing an additional 8,112 shares during the period. Institutional investors own 59.03% of the company’s stock.

Heritage Insurance Price Performance

Shares of HRTG stock opened at $25.71 on Thursday. The stock’s 50-day moving average is $27.75 and its 200 day moving average is $25.25. Heritage Insurance Holdings, Inc. has a 1-year low of $9.89 and a 1-year high of $31.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $794.76 million, a P/E ratio of 5.32 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG) last announced its 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. The business had revenue of $212.46 million during the quarter, compared to the consensus estimate of $210.12 million. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. Research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Heritage Insurance

In other Heritage Insurance news, CEO Ernie J. Garateix sold 8,334 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $26.03, for a total value of $216,934.02. Following the completion of the sale, the chief executive officer directly owned 1,128,504 shares in the company, valued at $29,374,959.12. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Widdicombe sold 50,000 shares of Heritage Insurance stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $29.40, for a total transaction of $1,470,000.00. Following the completion of the transaction, the chairman directly owned 449,047 shares in the company, valued at $13,201,981.80. This represents a 10.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 133,333 shares of company stock valued at $3,745,308 over the last 90 days. Insiders own 14.00% of the company’s stock.

Analysts Set New Price Targets

HRTG has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Insurance in a report on Monday, December 29th. Truist Financial upped their price objective 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. Finally, Zacks Research cut shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.50.

About Heritage Insurance

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.