Heritage Insurance Holdings, Inc. (NYSE:HRTG) Shares Sold by Barclays PLC

Barclays PLC lowered its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 19.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 41,135 shares of the insurance provider’s stock after selling 9,745 shares during the period. Barclays PLC’s holdings in Heritage Insurance were worth $503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of HRTG. nVerses Capital LLC acquired a new stake in Heritage Insurance during the third quarter worth about $49,000. Sei Investments Co. purchased a new stake in Heritage Insurance in the 2nd quarter worth approximately $102,000. MetLife Investment Management LLC grew its stake in shares of Heritage Insurance by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 7,545 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of Heritage Insurance during the 3rd quarter worth approximately $206,000. Finally, Rhumbline Advisers increased its holdings in shares of Heritage Insurance by 2,282.1% during the 2nd quarter. Rhumbline Advisers now owns 30,967 shares of the insurance provider’s stock valued at $219,000 after purchasing an additional 29,667 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Monday, November 25th.

Heritage Insurance Stock Performance

NYSE HRTG opened at $11.13 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a twelve month low of $5.51 and a twelve month high of $16.90. The stock has a 50-day moving average of $12.01 and a 200 day moving average of $11.61. The stock has a market capitalization of $341.47 million, a price-to-earnings ratio of 4.45 and a beta of 1.03.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.25. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The business had revenue of $211.85 million during the quarter, compared to the consensus estimate of $209.91 million. During the same period in the prior year, the company posted ($0.28) EPS. Sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.34 EPS for the current fiscal year.

Heritage Insurance announced that its board has initiated a share buyback program on Monday, December 9th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Nicholas George Pappas sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.64, for a total value of $50,560.00. Following the transaction, the director now owns 76,314 shares in the company, valued at $964,608.96. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 14.00% 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.