Tower Research Capital LLC TRC Takes Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Tower Research Capital LLC TRC acquired a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,195 shares of the insurance provider’s stock, valued at approximately $40,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd bought a new position in shares of Heritage Insurance in the third quarter valued at approximately $109,000. O Shaughnessy Asset Management LLC acquired a new stake in Heritage Insurance during the third quarter valued at approximately $172,000. Ritholtz Wealth Management lifted its stake in Heritage Insurance by 232.0% during the fourth quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 23,826 shares during the last quarter. Jump Financial LLC lifted its stake in Heritage Insurance by 137.4% during the third quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 27,888 shares during the last quarter. Finally, Barclays PLC lifted its stake in Heritage Insurance by 68.3% during the third quarter. Barclays PLC now owns 58,944 shares of the insurance provider’s stock valued at $383,000 after purchasing an additional 23,926 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Paul L. Whiting bought 20,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $8.14 per share, for a total transaction of $162,800.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $162,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 3,800 shares of company stock worth $28,943 in the last quarter. 11.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HRTG. Piper Sandler reissued a “neutral” rating and set a $9.00 target price on shares of Heritage Insurance in a research note on Monday, April 1st. StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Truist Financial increased their target price on shares of Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Heritage Insurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Heritage Insurance Trading Down 22.5 %

Shares of NYSE:HRTG traded down $2.32 during mid-day trading on Thursday, hitting $7.97. The stock had a trading volume of 1,955,721 shares, compared to its average volume of 411,230. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $244.20 million, a PE ratio of 4.63 and a beta of 0.91. Heritage Insurance Holdings, Inc. has a 12-month low of $3.20 and a 12-month high of $11.23. The company’s 50 day moving average is $9.15 and its 200-day moving average is $7.57.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.14). The firm had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $189.05 million. Heritage Insurance had a net margin of 6.16% and a return on equity of 26.69%. During the same quarter last year, the company posted $0.55 EPS. On average, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 1.52 EPS for the current year.

About Heritage Insurance

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.