AQR Capital Management LLC Increases Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

AQR Capital Management LLC grew its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 49.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 468,860 shares of the insurance provider’s stock after purchasing an additional 155,358 shares during the quarter. AQR Capital Management LLC’s holdings in Heritage Insurance were worth $5,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Heritage Insurance by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider’s stock valued at $18,993,000 after acquiring an additional 193,590 shares during the period. Vanguard Group Inc. boosted its stake in shares of Heritage Insurance by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,328,135 shares of the insurance provider’s stock worth $16,070,000 after buying an additional 9,452 shares during the period. Invesco Ltd. increased its position in Heritage Insurance by 24.0% in the 4th quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider’s stock valued at $11,430,000 after acquiring an additional 182,624 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in shares of Heritage Insurance by 33.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider’s stock worth $9,844,000 after purchasing an additional 205,195 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Heritage Insurance by 14.8% in the 4th quarter. American Century Companies Inc. now owns 589,899 shares of the insurance provider’s stock worth $7,138,000 after acquiring an additional 76,032 shares during the period. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HRTG shares. StockNews.com lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. Truist Financial upped their price objective on Heritage Insurance from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler boosted their price target on Heritage Insurance from $19.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday.

Heritage Insurance Price Performance

HRTG opened at $25.62 on Friday. The company has a 50 day moving average of $15.95 and a two-hundred day moving average of $13.16. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a 52-week low of $6.14 and a 52-week high of $26.04. The company has a market cap of $794.13 million, a P/E ratio of 10.25 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Tuesday, May 6th. The insurance provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.46 by $0.53. The business had revenue of $211.52 million for the quarter, compared to the consensus estimate of $213.68 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. On average, analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Insider Activity

In related news, CFO Kirk Lusk purchased 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the purchase, the chief financial officer now owns 618,756 shares in the company, valued at approximately $8,569,770.60. This represents a 0.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ernie J. Garateix acquired 5,000 shares of Heritage Insurance stock in a transaction on Friday, March 14th. The shares were bought at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the completion of the purchase, the chief executive officer now directly owns 1,270,808 shares in the company, valued at $16,228,218.16. The trade was a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 21,000 shares of company stock worth $280,450. 15.20% of the stock is currently owned by company insiders.

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.