American Century Companies Inc. Acquires 119,791 Shares of Heritage Insurance Holdings, Inc. $HRTG

American Century Companies Inc. increased its stake in Heritage Insurance Holdings, Inc. by 17.7% in Q2, acquiring 119,791 shares. The firm now owns 796,605 shares, valued at $19,867,000. Other investors also adjusted their positions in Heritage Insurance. Analysts have issued various ratings, with a consensus "Buy" rating and a price target of $32.50. Recent insider transactions include significant share sales by the Chairman and CEO. Heritage Insurance's stock performance shows a market cap of $882.45 million and a recent quarterly earnings report exceeding expectations.

American Century Companies Inc. grew its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 17.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 796,605 shares of the insurance provider's stock after buying an additional 119,791 shares during the quarter. American Century Companies Inc. owned 2.57% of Heritage Insurance worth $19,867,000 at the end of the most recent reporting period.

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Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in shares of Heritage Insurance in the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC lifted its position in Heritage Insurance by 2,413.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider's stock worth $28,000 after buying an additional 1,062 shares during the last quarter. AlphaQuest LLC lifted its position in Heritage Insurance by 252.3% in the second quarter. AlphaQuest LLC now owns 3,259 shares of the insurance provider's stock worth $81,000 after buying an additional 2,334 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Heritage Insurance by 33.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,749 shares of the insurance provider's stock worth $143,000 after buying an additional 1,432 shares during the period. Finally, Strs Ohio bought a new position in Heritage Insurance during the first quarter valued at $127,000. Hedge funds and other institutional investors own 59.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Heritage Insurance from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, November 7th. Wall Street Zen downgraded shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 6th. Finally, Weiss Ratings upgraded Heritage Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, Heritage Insurance has a consensus rating of "Buy" and an average price target of $32.50.

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Insider Transactions at Heritage Insurance

In other Heritage Insurance news, Chairman Richard A. Widdicombe sold 100,000 shares of the firm's stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $27.26, for a total transaction of $2,726,000.00. Following the transaction, the chairman owned 499,047 shares of the company's stock, valued at approximately $13,604,021.22. This trade represents a 16.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ernie J. Garateix sold 25,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $24.61, for a total transaction of $615,250.00. Following the completion of the sale, the chief executive officer directly owned 1,245,808 shares of the company's stock, valued at $30,659,334.88. The trade was a 1.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 396,002 shares of company stock worth $10,284,609. Corporate insiders own 14.00% of the company's stock.

Heritage Insurance Price Performance

Heritage Insurance stock opened at $28.55 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $882.45 million, a price-to-earnings ratio of 5.91 and a beta of 0.96. The firm has a 50-day moving average of $26.05 and a two-hundred day moving average of $23.99. Heritage Insurance Holdings, Inc. has a 1 year low of $9.89 and a 1 year high of $31.98.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $0.53 by $1.10. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. The firm had revenue of $212.46 million during the quarter, compared to the consensus estimate of $210.12 million. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Heritage Insurance Company Profile

(Free Report)

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.

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