Bank of New York Mellon Corp Has $1.42 Million Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Bank of New York Mellon Corp grew its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 27.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,236 shares of the insurance provider's stock after acquiring an additional 25,070 shares during the period. Bank of New York Mellon Corp owned about 0.38% of Heritage Insurance worth $1,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Segall Bryant & Hamill LLC purchased a new position in Heritage Insurance in the 3rd quarter worth approximately $1,541,000. Exchange Traded Concepts LLC purchased a new position in shares of Heritage Insurance in the fourth quarter valued at $296,000. BNP Paribas Financial Markets grew its holdings in Heritage Insurance by 412.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider's stock valued at $235,000 after purchasing an additional 15,468 shares in the last quarter. Ieq Capital LLC purchased a new stake in Heritage Insurance during the 4th quarter worth $303,000. Finally, State Street Corp lifted its holdings in Heritage Insurance by 27.4% in the 3rd quarter. State Street Corp now owns 371,057 shares of the insurance provider's stock worth $4,542,000 after buying an additional 79,802 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.

Heritage Insurance Stock Down 0.7 %

Shares of HRTG stock traded down $0.10 during mid-day trading on Thursday, reaching $13.78. 133,337 shares of the company were exchanged, compared to its average volume of 185,877. 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 business's 50 day simple moving average is $11.95 and its 200 day simple moving average is $12.13. The company has a market capitalization of $590.51 million, a P/E ratio of 5.51 and a beta of 1.00. Heritage Insurance Holdings, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $16.90.

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Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $199.87 million. Research analysts predict 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 initiated a share repurchase program on Monday, December 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other Heritage Insurance news, CEO Ernie J. Garateix acquired 5,000 shares of Heritage Insurance stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the completion of the transaction, the chief executive officer now owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. This represents a 0.40 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kirk Lusk purchased 6,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the transaction, the chief financial officer now owns 618,756 shares of the company's stock, valued at $8,569,770.60. This represents a 0.98 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 21,000 shares of company stock valued at $280,450. Company insiders own 14.00% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th.

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.