Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Acquires $133,500.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting purchased 10,000 shares of Heritage Insurance stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $13.35 per share, with a total value of $133,500.00. Following the completion of the transaction, the director now directly owns 79,576 shares of the company’s stock, valued at $1,062,339.60. This represents a 14.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Heritage Insurance Trading Up 8.3 %

NYSE:HRTG opened at $13.86 on Wednesday. The stock’s 50 day moving average price is $11.66 and its 200 day moving average price is $12.21. Heritage Insurance Holdings, Inc. has a 52 week low of $6.14 and a 52 week high of $16.90. The company has a market capitalization of $425.13 million, a P/E ratio of 5.54 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.83. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The firm had revenue of $210.26 million for the quarter, compared to the consensus estimate of $199.87 million. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Heritage Insurance declared that its board has approved a share repurchase program on Monday, December 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in Heritage Insurance by 3.0% during the fourth quarter. Stifel Financial Corp now owns 56,825 shares of the insurance provider’s stock valued at $688,000 after purchasing an additional 1,640 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Heritage Insurance by 222.2% during the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 2,000 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Heritage Insurance by 18.1% during the fourth quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider’s stock valued at $162,000 after purchasing an additional 2,058 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in Heritage Insurance by 21.7% during the fourth quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 2,210 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in Heritage Insurance by 0.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 366,595 shares of the insurance provider’s stock valued at $4,436,000 after purchasing an additional 2,479 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

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.