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 the company’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $13.35 per share, with a total value of $133,500.00. Following the purchase, the director now owns 79,576 shares of the company’s stock, valued at approximately $1,062,339.60. The trade was a 14.37 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Heritage Insurance Stock Up 0.1 %

HRTG stock opened at $13.90 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. Heritage Insurance Holdings, Inc. has a 1-year low of $6.14 and a 1-year high of $16.90. The firm has a fifty day moving average price of $11.70 and a two-hundred day moving average price of $12.22. The firm has a market cap of $426.35 million, a price-to-earnings ratio of 5.56 and a beta of 1.00.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share 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 firm had revenue of $210.26 million during the quarter, compared to analyst estimates of $199.87 million. Research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Heritage Insurance announced that its board has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Heritage Insurance

Several institutional investors have recently added to or reduced their stakes in HRTG. Cornercap Investment Counsel Inc. acquired a new position in shares of Heritage Insurance during the third quarter valued at $206,000. Empowered Funds LLC boosted its holdings in shares of Heritage Insurance by 5.3% during the third quarter. Empowered Funds LLC now owns 109,552 shares of the insurance provider’s stock valued at $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 during the third quarter valued at $1,541,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Heritage Insurance by 22.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider’s stock valued at $4,756,000 after acquiring an additional 70,100 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Heritage Insurance by 109.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 29,499 shares of the insurance provider’s stock valued at $361,000 after acquiring an additional 15,433 shares during the period. Institutional investors own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

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