Heritage Insurance Holdings (HRTG)

• Sector: Financials
• Industry: Fire, Marine & Casualty Insurance

Market Cap: $478M

About: Heritage Insurance Holdings Inc is a regional property and casualty insurance company that offers a variety of personal and commercial insurance products. Through its subsidiaries, Heritage Property & Casualty Insurance, Narragansett Bay Insurance, and Zephyr Insurance, the company issues personal residential property insurance in various states in the United States. It also offers commercial residential insurance predominantly for its Florida properties. Heritage Insurance manages insurance underwriting, customer services, actuarial analysis, distribution, and claims processing internally.

Employees: 566

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

178% more call options, than puts

Call options by funds: $1M | Put options by funds: $361K

60% more first-time investments, than exits

New positions opened: 24 | Existing positions closed: 15

10% more funds holding

Funds holding: 93 [Q1] → 102 (+9) [Q2]

0% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 33

2.06% less ownership

Funds ownership: 50.0% [Q1] → 47.95% (-2.06%) [Q2]

35% less capital invested

Capital invested by funds: $161M [Q1] → $104M (-$56.7M) [Q2]

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $12 23% downside
• Avg. target: $12.50 20% downside
• High target: $13 17% downside

2 analyst ratings

• positive: 2 100%
• neutral: 0 0%
• negative: 0 0%

Piper Sandler Paul Newsome 89% 1-year accuracy 50 / 56 met price target	17% downside $13	Overweight Upgraded	9 Aug 2024
Truist Securities Mark Hughes 85% 1-year accuracy 53 / 62 met price target	23% downside $12	Buy Maintained	8 Aug 2024