Heritage Insurance (NYSE:HRTG) Stock Price Down 5.2% - Here's What Happened

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report)'s stock price fell 5.2% during mid-day trading on Friday . The company traded as low as $18.25 and last traded at $18.06. 39,937 shares traded hands during trading, a decline of 90% from the average session volume of 384,606 shares. The stock had previously closed at $19.05.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th.

Heritage Insurance Price Performance

The company has a 50-day moving average of $14.47 and a 200 day moving average of $12.63. 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 stock has a market capitalization of $808.82 million, a PE ratio of 7.55 and a beta of 0.93.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating analysts' consensus estimates 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%. Sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Heritage Insurance

In other news, CEO Ernie J. Garateix acquired 5,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the completion of the transaction, the chief executive officer now owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. This trade represents a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirk Lusk bought 6,000 shares of Heritage Insurance stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the purchase, the chief financial officer now directly owns 618,756 shares of the company's stock, valued at $8,569,770.60. This trade represents a 0.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,000 shares of company stock worth $280,450 in the last ninety days. Insiders own 14.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HRTG. Jacobs Levy Equity Management Inc. purchased a new position in shares of Heritage Insurance during the 4th quarter worth $7,799,000. Segall Bryant & Hamill LLC boosted its stake in Heritage Insurance by 176.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 348,556 shares of the insurance provider's stock worth $4,218,000 after buying an additional 222,689 shares during the period. Pacific Ridge Capital Partners LLC increased its position in shares of Heritage Insurance by 33.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider's stock valued at $9,844,000 after acquiring an additional 205,195 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Heritage Insurance by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider's stock valued at $18,993,000 after acquiring an additional 193,590 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Heritage Insurance by 24.0% in the 4th quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock worth $11,430,000 after acquiring an additional 182,624 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

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.