Exchange Traded Concepts LLC Invests $296,000 in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Exchange Traded Concepts LLC purchased a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,473 shares of the insurance provider's stock, valued at approximately $296,000. Exchange Traded Concepts LLC owned 0.08% of Heritage Insurance as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Heritage Insurance during the 4th quarter worth about $134,000. State Street Corp increased its position in shares of Heritage Insurance by 27.4% during the third quarter. State Street Corp now owns 371,057 shares of the insurance provider's stock valued at $4,542,000 after buying an additional 79,802 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Heritage Insurance in the third quarter worth about $467,000. Centiva Capital LP bought a new position in shares of Heritage Insurance in the third quarter valued at approximately $502,000. Finally, Verition Fund Management LLC grew its stake in Heritage Insurance by 15.1% during the third quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider's stock valued at $400,000 after acquiring an additional 4,300 shares in the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Heritage Insurance news, Director Nicholas George Pappas sold 4,000 shares of Heritage Insurance stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.64, for a total transaction of $50,560.00. Following the completion of the sale, the director now owns 76,314 shares of the company's stock, valued at $964,608.96. The trade was a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 14.00% of the company's stock.

Heritage Insurance Price Performance

Heritage Insurance stock traded up $0.13 during midday trading on Tuesday, hitting $11.18. 158,944 shares of the company's stock were exchanged, compared to its average volume of 172,570. The stock has a 50-day moving average price of $11.80 and a two-hundred day moving average price of $12.01. Heritage Insurance Holdings, Inc. has a 52-week low of $5.51 and a 52-week high of $16.90. The company has a market cap of $343.03 million, a P/E ratio of 4.47 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.25. The company had revenue of $211.85 million for the quarter, compared to analysts' expectations of $209.91 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. During the same period in the prior year, the business earned ($0.28) earnings per share. On average, equities 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 initiated a stock buyback 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Heritage Insurance from a "hold" rating to a "buy" rating in a research note on Monday, November 25th.

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.