Hillsdale Investment Management Inc. Has $69,000 Stock Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Hillsdale Investment Management Inc. decreased its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 66.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,550 shares of the insurance provider’s stock after selling 21,250 shares during the period. Hillsdale Investment Management Inc.’s holdings in Heritage Insurance were worth $69,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC lifted its holdings in shares of Heritage Insurance by 11.2% during the fourth quarter. Essex Investment Management Co. LLC now owns 372,076 shares of the insurance provider’s stock worth $2,426,000 after purchasing an additional 37,581 shares during the period. Victory Capital Management Inc. grew its position in shares of Heritage Insurance by 13.0% in the 4th quarter. Victory Capital Management Inc. now owns 104,000 shares of the insurance provider’s stock valued at $678,000 after buying an additional 12,000 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of Heritage Insurance by 232.0% in the fourth quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after buying an additional 23,826 shares during the period. Legato Capital Management LLC raised its position in shares of Heritage Insurance by 20.2% during the fourth quarter. Legato Capital Management LLC now owns 149,980 shares of the insurance provider’s stock worth $978,000 after acquiring an additional 25,155 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Heritage Insurance in the third quarter worth approximately $109,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HRTG. JMP Securities reiterated a “market perform” rating on shares of Heritage Insurance in a research report on Monday, April 15th. StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Piper Sandler restated a “neutral” rating and issued a $9.00 target price on shares of Heritage Insurance in a research note on Monday, April 1st. Finally, Truist Financial upped their price target on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Heritage Insurance Price Performance

Shares of NYSE HRTG opened at $8.56 on Thursday. The company has a market capitalization of $262.28 million, a PE ratio of 5.22 and a beta of 0.92. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $9.61 and its 200-day moving average price is $7.88. Heritage Insurance Holdings, Inc. has a twelve month low of $3.73 and a twelve month high of $11.23.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.14). Heritage Insurance had a return on equity of 24.02% and a net margin of 6.07%. The company had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $189.05 million. During the same quarter last year, the business posted $0.55 EPS. On average, equities analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.45 EPS for the current year.

Insider Activity

In other Heritage Insurance news, Director Nicholas George Pappas sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $8.56, for a total value of $51,360.00. Following the completion of the transaction, the director now owns 75,400 shares of the company’s stock, valued at approximately $645,424. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Nicholas George Pappas sold 6,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $8.56, for a total transaction of $51,360.00. Following the transaction, the director now owns 75,400 shares of the company’s stock, valued at approximately $645,424. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul L. Whiting purchased 50,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $8.35 per share, with a total value of $417,500.00. Following the completion of the transaction, the director now owns 59,662 shares of the company’s stock, valued at $498,177.70. The disclosure for this purchase can be found here. In the last three months, insiders bought 75,000 shares of company stock worth $621,350 and sold 8,300 shares worth $71,408. Company insiders own 11.90% of the company’s stock.

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.