Renaissance Technologies LLC Purchases 136,800 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Renaissance Technologies LLC raised its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 45.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 436,099 shares of the insurance provider's stock after acquiring an additional 136,800 shares during the period. Renaissance Technologies LLC owned about 1.42% of Heritage Insurance worth $3,088,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of HRTG. Empowered Funds LLC grew its position in Heritage Insurance by 8.1% during the 1st quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider's stock worth $1,030,000 after acquiring an additional 7,203 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Heritage Insurance in the first quarter valued at approximately $155,000. Fortis Capital Advisors LLC bought a new position in Heritage Insurance in the 1st quarter valued at approximately $134,000. Kennedy Capital Management LLC acquired a new stake in Heritage Insurance during the 1st quarter worth approximately $663,000. Finally, Instrumental Wealth LLC grew its holdings in Heritage Insurance by 109.1% during the 1st quarter. Instrumental Wealth LLC now owns 27,791 shares of the insurance provider's stock worth $296,000 after acquiring an additional 14,500 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.

Insider Transactions at Heritage Insurance

In related news, Chairman Richard A. Widdicombe bought 4,437 shares of the company's stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $14.55 per share, for a total transaction of $64,558.35. Following the completion of the purchase, the chairman now directly owns 696,497 shares in the company, valued at $10,134,031.35. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Ernie J. Garateix acquired 5,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $8.59 per share, for a total transaction of $42,950.00. Following the purchase, the chief executive officer now owns 1,072,584 shares of the company's stock, valued at approximately $9,213,496.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard A. Widdicombe bought 4,437 shares of the business's stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $14.55 per share, with a total value of $64,558.35. Following the transaction, the chairman now directly owns 696,497 shares of the company's stock, valued at $10,134,031.35. The disclosure for this purchase can be found here. Company insiders own 14.00% of the company's stock.

Heritage Insurance Stock Down 3.8 %

HRTG traded down $0.47 during midday trading on Tuesday, reaching $11.77. 1,169,292 shares of the company were exchanged, compared to its average volume of 452,693. The company has a market cap of $360.59 million, a price-to-earnings ratio of 7.18 and a beta of 0.97. Heritage Insurance Holdings, Inc. has a one year low of $5.03 and a one year high of $16.90. The company's fifty day moving average price is $13.18 and its 200 day moving average price is $10.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its earnings results on Tuesday, August 6th. The insurance provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.38 by $0.23. Heritage Insurance had a net margin of 7.37% and a return on equity of 26.27%. The company had revenue of $203.57 million during the quarter, compared to the consensus estimate of $196.81 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. As a group, analysts expect that Heritage Insurance Holdings, Inc. will post 1.93 EPS for the current year.

Wall Street Analyst Weigh In

HRTG has been the subject of a number of analyst reports. Truist Financial raised their price objective on Heritage Insurance from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Piper Sandler upgraded shares of Heritage Insurance from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $9.00 to $13.00 in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $10.67.

Heritage Insurance Company 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.