Segall Bryant & Hamill LLC boosted its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 176.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,556 shares of the insurance provider's stock after buying an additional 222,689 shares during the quarter. Segall Bryant & Hamill LLC owned 1.14% of Heritage Insurance worth $4,218,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in shares of Heritage Insurance in the 4th quarter valued at $296,000. Ieq Capital LLC acquired a new position in Heritage Insurance in the 4th quarter valued at about $303,000. BNP Paribas Financial Markets grew its position in Heritage Insurance by 412.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider's stock valued at $235,000 after acquiring an additional 15,468 shares in the last quarter. State Street Corp increased its stake in Heritage Insurance by 27.4% during the third quarter. State Street Corp now owns 371,057 shares of the insurance provider's stock worth $4,542,000 after purchasing an additional 79,802 shares during the period. Finally, FMR LLC lifted its position in shares of Heritage Insurance by 28,416.9% during the third quarter. FMR LLC now owns 87,547 shares of the insurance provider's stock worth $1,072,000 after purchasing an additional 87,240 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors and hedge funds.
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, March 18th.
Get Our Latest Research Report on Heritage Insurance
Insider Buying and Selling at Heritage Insurance
In other Heritage Insurance news, Director Paul L. Whiting purchased 10,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $13.35 per share, with a total value of $133,500.00. Following the completion of the acquisition, the director now directly owns 79,576 shares of the company's stock, valued at $1,062,339.60. This trade represents a 14.37 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ernie J. Garateix bought 5,000 shares of the stock in a transaction dated 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 acquisition, the chief executive officer now owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. This represents a 0.40 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 21,000 shares of company stock valued at $280,450. Insiders own 14.00% of the company's stock.
Heritage Insurance Stock Up 4.8 %
NYSE:HRTG traded up $0.69 during midday trading on Tuesday, reaching $15.11. The company had a trading volume of 300,651 shares, compared to its average volume of 377,878. The stock's fifty day simple moving average is $12.22 and its 200-day simple moving average is $12.09. 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 $16.90. The firm has a market capitalization of $647.40 million, a price-to-earnings ratio of 6.04 and a beta of 1.00.
Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, topping 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 business had revenue of $210.26 million during the quarter, compared to the consensus estimate of $199.87 million. On average, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.
Heritage Insurance announced that its Board of Directors has authorized a share buyback plan on Monday, December 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.
About Heritage Insurance
(
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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