Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Purchases $63,850.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CEO Ernie J. Garateix bought 5,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $12.77 per share, with a total value of $63,850.00. Following the completion of the acquisition, the chief executive officer now 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Heritage Insurance Stock Down 1.6 %

Shares of HRTG stock traded down $0.23 during trading on Friday, hitting $13.56. 123,374 shares of the company were exchanged, compared to its average volume of 386,872. 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 firm has a market capitalization of $415.92 million, a price-to-earnings ratio of 5.42 and a beta of 1.00. The business's 50-day simple moving average is $11.74 and its 200 day simple moving average is $12.23. Heritage Insurance Holdings, Inc. has a twelve month low of $6.14 and a twelve month high of $16.90.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS 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 analysts' expectations of $199.87 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. As a group, analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Remove Ads

Heritage Insurance announced that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the insurance provider to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

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

Institutional Trading of Heritage Insurance

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its stake 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 valued at $35,000 after acquiring an additional 2,000 shares during the last quarter. Triumph Capital Management acquired a new stake in Heritage Insurance in the fourth quarter valued at approximately $121,000. Cantor Fitzgerald L. P. acquired a new stake in Heritage Insurance in the fourth quarter valued at approximately $133,000. SG Americas Securities LLC acquired a new stake in Heritage Insurance in the fourth quarter valued at approximately $134,000. Finally, Aquatic Capital Management LLC acquired a new stake in Heritage Insurance in the fourth quarter valued at approximately $150,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

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.