American Century Companies Inc. Acquires 76,032 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

American Century Companies Inc. grew its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 14.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 589,899 shares of the insurance provider's stock after buying an additional 76,032 shares during the period. American Century Companies Inc. owned approximately 1.92% of Heritage Insurance worth $7,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. New York State Common Retirement Fund grew its position in Heritage Insurance by 222.2% in the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock worth $35,000 after acquiring an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Heritage Insurance by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,874 shares of the insurance provider's stock worth $809,000 after purchasing an additional 2,808 shares during the period. Verition Fund Management LLC increased its position in shares of Heritage Insurance by 15.1% during the 3rd quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider's stock valued at $400,000 after purchasing an additional 4,300 shares during the last quarter. Empowered Funds LLC raised its holdings in Heritage Insurance by 5.1% during the 4th quarter. Empowered Funds LLC now owns 115,131 shares of the insurance provider's stock valued at $1,393,000 after buying an additional 5,579 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Heritage Insurance by 7.2% in the fourth quarter. Victory Capital Management Inc. now owns 89,000 shares of the insurance provider's stock worth $1,077,000 after buying an additional 6,000 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kirk Lusk acquired 6,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $13.85 per share, with a total value of $83,100.00. Following the completion of the purchase, the chief financial officer now directly owns 618,756 shares in the company, valued at $8,569,770.60. This trade represents a 0.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ernie J. Garateix acquired 5,000 shares of Heritage Insurance stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,270,808 shares in the company, valued at $16,228,218.16. This trade represents a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 21,000 shares of company stock valued at $280,450 in the last 90 days. Company insiders own 14.00% of the company's stock.

Heritage Insurance Trading Up 3.5 %

Shares of NYSE:HRTG traded up $0.50 during trading hours on Tuesday, hitting $14.79. 384,974 shares of the company's stock traded hands, compared to its average volume of 377,877. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The business has a fifty day moving average price of $12.66 and a 200-day moving average price of $12.08. Heritage Insurance Holdings, Inc. has a 1 year low of $6.14 and a 1 year high of $16.90. The firm has a market capitalization of $633.39 million, a P/E ratio of 5.91 and a beta of 0.93.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data 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 return on equity of 29.17% and a net margin of 9.10%. The company had revenue of $210.26 million for the quarter, compared to the consensus estimate of $199.87 million. Equities analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Heritage Insurance declared that its board has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the insurance provider to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th.

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.