Kirk Lusk Acquires 6,000 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk acquired 6,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the acquisition, the chief financial officer now directly owns 618,756 shares of the company’s stock, valued at approximately $8,569,770.60. The trade was a 0.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Insurance Price Performance

NYSE:HRTG opened at $13.86 on Wednesday. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $16.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $425.13 million, a price-to-earnings ratio of 5.54 and a beta of 1.00. The firm’s fifty day moving average is $11.66 and its two-hundred day moving average is $12.21.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.83. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The company had revenue of $210.26 million for the quarter, compared to analyst estimates of $199.87 million. Research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Heritage Insurance declared that its Board of Directors has authorized a share repurchase program 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 programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HRTG. Cornercap Investment Counsel Inc. acquired a new position in shares of Heritage Insurance in the third quarter worth about $206,000. Empowered Funds LLC raised its position in shares of Heritage Insurance by 5.3% in the third quarter. Empowered Funds LLC now owns 109,552 shares of the insurance provider’s stock worth $1,341,000 after acquiring an additional 5,494 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of Heritage Insurance in the third quarter worth about $1,541,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Heritage Insurance by 22.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider’s stock worth $4,756,000 after acquiring an additional 70,100 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Heritage Insurance by 109.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 29,499 shares of the insurance provider’s stock worth $361,000 after acquiring an additional 15,433 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

About Heritage Insurance

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.