Pacific Ridge Capital Partners LLC Has $10.88 Million Stake in Heritage Insurance Holdings, Inc. $HRTG

Pacific Ridge Capital Partners LLC reduced its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 371,953 shares of the insurance provider’s stock after selling 86,976 shares during the quarter. Heritage Insurance makes up 2.4% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 3rd largest holding. Pacific Ridge Capital Partners LLC’s holdings in Heritage Insurance were worth $10,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Heritage Insurance by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock worth $55,039,000 after purchasing an additional 234,296 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Heritage Insurance by 8.7% in the 3rd quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock valued at $25,793,000 after purchasing an additional 82,190 shares during the period. American Century Companies Inc. raised its holdings in shares of Heritage Insurance by 11.5% in the 3rd quarter. American Century Companies Inc. now owns 888,452 shares of the insurance provider’s stock worth $22,371,000 after buying an additional 91,847 shares in the last quarter. Millennium Management LLC lifted its position in shares of Heritage Insurance by 39.8% during the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock worth $4,657,000 after buying an additional 91,982 shares during the period. Finally, UBS Group AG boosted its stake in Heritage Insurance by 4.3% in the 4th quarter. UBS Group AG now owns 302,409 shares of the insurance provider’s stock valued at $8,848,000 after buying an additional 12,582 shares in the last quarter. 59.03% of the stock is owned by institutional investors.

Heritage Insurance Price Performance

Shares of HRTG stock opened at $22.11 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. Heritage Insurance Holdings, Inc. has a 12-month low of $16.83 and a 12-month high of $31.98. The firm has a fifty day moving average of $27.16 and a 200-day moving average of $27.05. The firm has a market capitalization of $671.16 million, a price-to-earnings ratio of 3.39 and a beta of 1.03.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.34). Heritage Insurance had a return on equity of 45.62% and a net margin of 23.76%.The business had revenue of $212.66 million for the quarter, compared to analyst estimates of $215.39 million. On average, equities research analysts forecast that Heritage Insurance Holdings, Inc. will post 4.7 earnings per share for the current year.

Insider Buying and Selling at Heritage Insurance

In other news, CAO Sharon Binnun sold 9,200 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $25.72, for a total transaction of $236,624.00. Following the completion of the sale, the chief accounting officer owned 133,188 shares of the company’s stock, valued at $3,425,595.36. This represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Timothy Moura sold 29,133 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $26.63, for a total value of $775,811.79. Following the transaction, the insider owned 210,535 shares of the company’s stock, valued at approximately $5,606,547.05. This trade represents a 12.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 130,918 shares of company stock valued at $3,446,606. 14.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HRTG has been the subject of several recent analyst reports. Truist Financial dropped their price objective on Heritage Insurance from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Insurance in a research note on Friday, March 27th. Wall Street Zen lowered Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $36.00.

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.