Franklin Resources Inc. Purchases 27,759 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Franklin Resources Inc. grew its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 207.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,121 shares of the insurance provider's stock after acquiring an additional 27,759 shares during the period. Franklin Resources Inc. owned 0.13% of Heritage Insurance worth $498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in Heritage Insurance in the 4th quarter worth approximately $296,000. Ieq Capital LLC acquired a new stake in Heritage Insurance in the fourth quarter worth about $303,000. Raymond James Financial Inc. bought a new stake in Heritage Insurance during the 4th quarter worth about $1,123,000. American Century Companies Inc. lifted its position in Heritage Insurance by 14.8% during the 4th quarter. American Century Companies Inc. now owns 589,899 shares of the insurance provider's stock valued at $7,138,000 after purchasing an additional 76,032 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Heritage Insurance by 323.8% in the 4th quarter. Prudential Financial Inc. now owns 93,975 shares of the insurance provider's stock valued at $1,137,000 after purchasing an additional 71,800 shares during the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Heritage Insurance news, CEO Ernie J. Garateix acquired 5,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the acquisition, the chief executive officer now directly owns 1,270,808 shares of the company's stock, valued at approximately $16,228,218.16. This trade represents a 0.40 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul L. Whiting bought 10,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $13.35 per share, with a total value of $133,500.00. Following the completion of the purchase, the director now owns 79,576 shares in the company, valued at $1,062,339.60. This represents a 14.37 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 21,000 shares of company stock worth $280,450. Company insiders own 14.00% of the company's stock.

Heritage Insurance Trading Up 5.6 %

NYSE HRTG opened at $18.80 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a 12 month low of $6.14 and a 12 month high of $18.91. The company has a market capitalization of $805.48 million, a PE ratio of 7.52 and a beta of 0.93. The stock has a 50-day simple moving average of $13.54 and a 200 day simple moving average of $12.21.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings results 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 return on equity of 29.17% and a net margin of 9.10%. The company had revenue of $210.26 million during the quarter, compared to analysts' expectations of $199.87 million. Research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

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.

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