Connor Clark & Lunn Investment Management Ltd. Increases Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 15.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,868 shares of the insurance provider's stock after acquiring an additional 59,281 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.46% of Heritage Insurance worth $5,419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in Heritage Insurance by 222.2% during the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock worth $35,000 after purchasing an additional 2,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Heritage Insurance during the fourth quarter valued at approximately $134,000. US Bancorp DE lifted its holdings in Heritage Insurance by 91,671.4% during the fourth quarter. US Bancorp DE now owns 12,848 shares of the insurance provider's stock worth $155,000 after acquiring an additional 12,834 shares during the period. MetLife Investment Management LLC boosted its position in Heritage Insurance by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider's stock worth $164,000 after purchasing an additional 7,545 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of Heritage Insurance during the 4th quarter valued at $202,000. 59.03% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

Insider Activity at Heritage Insurance

In other news, CFO Kirk Lusk purchased 6,000 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the transaction, the chief financial officer now directly owns 618,756 shares of the company's stock, valued at approximately $8,569,770.60. This trade represents a 0.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul L. Whiting bought 10,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $13.35 per share, with a total value of $133,500.00. Following the transaction, the director now directly owns 79,576 shares in the company, valued at $1,062,339.60. The trade was a 14.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 21,000 shares of company stock valued at $280,450. Company insiders own 14.00% of the company's stock.

Heritage Insurance Stock Performance

Heritage Insurance stock traded down $0.09 during mid-day trading on Thursday, reaching $13.80. The company's stock had a trading volume of 154,386 shares, compared to its average volume of 186,119. Heritage Insurance Holdings, Inc. has a 12-month low of $6.14 and a 12-month high of $16.90. The firm's fifty day moving average price is $11.70 and its two-hundred day moving average price is $12.22. 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 company has a market capitalization of $423.50 million, a P/E ratio of 5.52 and a beta of 1.00.

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

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

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.