Assenagon Asset Management S.A. Decreases Stock Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Assenagon Asset Management S.A. trimmed its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 60.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,305 shares of the insurance provider's stock after selling 189,551 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.41% of Heritage Insurance worth $887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Instrumental Wealth LLC grew its stake in Heritage Insurance by 109.1% during the first quarter. Instrumental Wealth LLC now owns 27,791 shares of the insurance provider's stock worth $296,000 after purchasing an additional 14,500 shares during the period. Kennedy Capital Management LLC acquired a new stake in Heritage Insurance in the first quarter valued at approximately $663,000. Fortis Capital Advisors LLC acquired a new stake in Heritage Insurance in the first quarter valued at approximately $134,000. Susquehanna Fundamental Investments LLC acquired a new stake in Heritage Insurance in the first quarter valued at approximately $155,000. Finally, Empowered Funds LLC grew its stake in Heritage Insurance by 8.1% in the first quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider's stock valued at $1,030,000 after acquiring an additional 7,203 shares during the period. 59.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on HRTG shares. Piper Sandler raised Heritage Insurance from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $9.00 to $13.00 in a research report on Friday, August 9th. Truist Financial lifted their target price on Heritage Insurance from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Finally, StockNews.com raised Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 16th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $10.67.

Heritage Insurance Price Performance

Heritage Insurance stock remained flat at $14.89 during mid-day trading on Friday. The company had a trading volume of 429,492 shares, compared to its average volume of 432,013. The business has a 50 day simple moving average of $8.61 and a two-hundred day simple moving average of $8.55. The company has a market capitalization of $456.17 million, a price-to-earnings ratio of 9.08 and a beta of 0.90. Heritage Insurance Holdings, Inc. has a 1-year low of $4.28 and a 1-year high of $15.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.23. The business had revenue of $203.57 million for the quarter, compared to analyst estimates of $196.81 million. Heritage Insurance had a return on equity of 24.02% and a net margin of 6.07%. During the same period last year, the company posted $0.32 earnings per share. On average, sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post 1.45 earnings per share for the current year.

Insider Buying and Selling at Heritage Insurance

In other news, Director Paul L. Whiting bought 5,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $7.74 per share, for a total transaction of $38,700.00. Following the completion of the purchase, the director now directly owns 64,662 shares in the company, valued at approximately $500,483.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Paul L. Whiting bought 5,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $7.74 per share, for a total transaction of $38,700.00. Following the completion of the purchase, the director now directly owns 64,662 shares in the company, valued at approximately $500,483.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard A. Widdicombe bought 4,437 shares of the stock in a transaction on Friday, August 16th. The stock was purchased at an average price of $14.55 per share, for a total transaction of $64,558.35. Following the completion of the purchase, the chairman now owns 696,497 shares of the company's stock, valued at $10,134,031.35. The disclosure for this purchase can be found here. Insiders have bought a total of 14,437 shares of company stock worth $146,208 over the last ninety days. 14.00% of the stock is currently owned by company insiders.

Heritage Insurance Profile

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.