Heritage Insurance Holdings, Inc. (NYSE:HRTG) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 447,868 shares of the insurance provider’s stock after buying an additional 59,281 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.46% of Heritage Insurance worth $5,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Common Retirement Fund grew its position in shares of 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 worth $35,000 after buying an additional 2,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in Heritage Insurance in the fourth quarter valued at approximately $134,000. US Bancorp DE boosted its holdings in Heritage Insurance by 91,671.4% in the fourth quarter. US Bancorp DE now owns 12,848 shares of the insurance provider’s stock valued at $155,000 after purchasing an additional 12,834 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Heritage Insurance by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 7,545 shares in the last quarter. Finally, Bailard Inc. acquired a new position in Heritage Insurance in the fourth quarter valued at approximately $202,000. 59.03% of the stock is owned by institutional investors and hedge funds.

Heritage Insurance Price Performance

Shares of NYSE HRTG opened at $13.70 on Monday. 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 $6.14 and a twelve month high of $16.90. The stock has a 50 day moving average of $11.59 and a two-hundred day moving average of $12.25. The stock has a market cap of $420.49 million, a P/E ratio of 5.48 and a beta of 1.00.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share for the quarter, beating 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 company had revenue of $210.26 million during the quarter, compared to analysts’ expectations of $199.87 million. On average, research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Heritage Insurance announced that its Board of Directors has authorized a share buyback plan on Monday, December 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Monday, March 10th.

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.