Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie J. Garateix purchased 5,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $12.77 per share, with a total value of $63,850.00. Following the completion of the transaction, the chief executive officer now owns 1,270,808 shares of the company's stock, valued at $16,228,218.16. The trade was a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Heritage Insurance Trading Down 1.6 %
HRTG traded down $0.23 during trading hours on Friday, reaching $13.56. 283,979 shares of the company's stock traded hands, compared to its average volume of 387,345. The firm has a 50-day moving average price of $11.74 and a 200 day moving average price of $12.23. The firm has a market capitalization of $415.92 million, a PE ratio of 5.42 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a 52-week low of $6.14 and a 52-week high of $16.90.
Heritage Insurance (NYSE:HRTG - Get Free Report) last released its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.83. The business had revenue of $210.26 million during the quarter, compared to the consensus estimate of $199.87 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. As a group, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.
Heritage Insurance declared that its Board of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a report on Tuesday.
Check Out Our Latest Analysis on Heritage Insurance
Hedge Funds Weigh In On Heritage Insurance
A number of hedge funds have recently added to or reduced their stakes in HRTG. Cornercap Investment Counsel Inc. purchased a new stake in shares of Heritage Insurance in the third quarter valued at approximately $206,000. Empowered Funds LLC lifted its holdings in shares of Heritage Insurance by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 109,552 shares of the insurance provider's stock worth $1,341,000 after buying an additional 5,494 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Heritage Insurance during the 3rd quarter worth $1,541,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Heritage Insurance by 22.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider's stock worth $4,756,000 after buying an additional 70,100 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake 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 buying an additional 15,433 shares during the period. 59.03% of the stock is currently owned by institutional investors.
About Heritage Insurance
(
Get Free Report)
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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