Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk Acquires 6,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) CFO Kirk Lusk acquired 6,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of $13.85 per share, for a total transaction of $83,100.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Heritage Insurance Trading Down 1.6 %

Shares of HRTG traded down $0.23 on Friday, hitting $13.56. 123,374 shares of the stock traded hands, compared to its average volume of 386,872. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $415.92 million, a P/E ratio of 5.42 and a beta of 1.00. The stock's 50 day moving average is $11.74 and its two-hundred day moving average is $12.23. Heritage Insurance Holdings, Inc. has a 1 year low of $6.14 and a 1 year high of $16.90.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.83. The business had revenue of $210.26 million for the quarter, compared to the consensus estimate of $199.87 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. As a group, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Remove Ads

Heritage Insurance announced that its board has initiated a stock repurchase program on Monday, December 9th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Heritage Insurance

Large investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC acquired a new stake in shares of Heritage Insurance in the third quarter worth $1,541,000. Exchange Traded Concepts LLC acquired a new stake in Heritage Insurance during the 4th 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 acquired a new stake in Heritage Insurance during the 4th quarter valued at $303,000. Finally, State Street Corp grew its holdings in Heritage Insurance by 27.4% during the 3rd quarter. State Street Corp now owns 371,057 shares of the insurance provider's stock valued at $4,542,000 after purchasing an additional 79,802 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.

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.