Heritage Insurance Holdings, Inc. $HRTG Shares Purchased by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC increased its position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 27.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 458,929 shares of the insurance provider’s stock after buying an additional 98,246 shares during the period. Heritage Insurance accounts for 2.5% of Pacific Ridge Capital Partners LLC’s holdings, making the stock its 2nd biggest position. Pacific Ridge Capital Partners LLC’s holdings in Heritage Insurance were worth $11,556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Heritage Insurance during the 3rd quarter worth about $984,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Heritage Insurance by 514.4% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 76,798 shares of the insurance provider’s stock valued at $1,934,000 after purchasing an additional 64,298 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Heritage Insurance by 69.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider’s stock valued at $13,128,000 after purchasing an additional 216,019 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Heritage Insurance by 201.7% in the 3rd quarter. Principal Financial Group Inc. now owns 64,490 shares of the insurance provider’s stock worth $1,624,000 after purchasing an additional 43,113 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Heritage Insurance by 829.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 125,828 shares of the insurance provider’s stock worth $3,138,000 after purchasing an additional 112,288 shares during the period. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a report on Monday, December 29th. Truist Financial increased their target price on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Zacks Research cut shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Heritage Insurance Price Performance

NYSE:HRTG opened at $27.24 on Thursday. The stock has a 50 day moving average of $26.67 and a two-hundred day moving average of $25.87. Heritage Insurance Holdings, Inc. has a 12 month low of $9.89 and a 12 month high of $31.98. The firm has a market cap of $841.96 million, a P/E ratio of 5.64 and a beta of 0.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18.

Insider Activity at Heritage Insurance

In other news, CEO Ernie J. Garateix sold 8,334 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $24.12, for a total transaction of $201,016.08. Following the completion of the sale, the chief executive officer owned 1,120,170 shares of the company’s stock, valued at $27,018,500.40. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirk Lusk sold 8,331 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $28.21, for a total transaction of $235,017.51. Following the completion of the sale, the chief financial officer owned 550,425 shares of the company’s stock, valued at $15,527,489.25. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,333 shares of company stock valued at $1,325,269 over the last quarter. 15.20% of the stock is owned by company insiders.

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.