19,716 Shares in Heritage Insurance Holdings, Inc. $HRTG Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the second quarter, HoldingsChannel.com reports. The firm bought 19,716 shares of the insurance provider’s stock, valued at approximately $514,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Heritage Insurance in the second quarter worth approximately $60,842,000. Vanguard Group Inc. raised its position in shares of Heritage Insurance by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 1,881,027 shares of the insurance provider’s stock valued at $55,039,000 after purchasing an additional 234,296 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Heritage Insurance by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,923 shares of the insurance provider’s stock valued at $32,732,000 after buying an additional 36,879 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Heritage Insurance by 8.7% during the 3rd quarter. Marshall Wace LLP now owns 1,024,357 shares of the insurance provider’s stock valued at $25,793,000 after buying an additional 82,190 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Heritage Insurance by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 665,902 shares of the insurance provider’s stock worth $19,486,000 after buying an additional 34,996 shares during the period. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Insider Activity at Heritage Insurance

In other news, insider Timothy E. Johns sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was 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 $856,751.84. This represents a 12.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kirk Lusk sold 10,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.16, for a total value of $341,600.00. Following the transaction, the chief financial officer owned 492,522 shares of the company’s stock, valued at $16,824,551.52. This represents a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,904 shares of company stock valued at $2,615,205 in the last 90 days. 9.20% of the stock is currently owned by insiders.

Heritage Insurance Stock Performance

Shares of NYSE HRTG opened at $34.40 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $1.02 billion, a P/E ratio of 4.90 and a beta of 0.92. The firm’s fifty day moving average is $30.75 and its two-hundred day moving average is $27.32. Heritage Insurance Holdings, Inc. has a 52-week low of $20.48 and a 52-week high of $36.50.

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

Analyst Upgrades and Downgrades

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

Heritage Insurance Company 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.