Ieq Capital LLC Purchases New Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Ieq Capital LLC bought a new position in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,047 shares of the insurance provider's stock, valued at approximately $303,000. Ieq Capital LLC owned 0.08% of Heritage Insurance at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in shares of Heritage Insurance by 87.6% during the third quarter. Assenagon Asset Management S.A. now owns 235,019 shares of the insurance provider's stock valued at $2,877,000 after buying an additional 109,714 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Heritage Insurance by 20.3% in the 3rd quarter. GSA Capital Partners LLP now owns 100,055 shares of the insurance provider's stock valued at $1,225,000 after purchasing an additional 16,911 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in shares of Heritage Insurance in the third quarter worth approximately $206,000. Empowered Funds LLC boosted its holdings in shares of Heritage Insurance by 5.3% during the third quarter. Empowered Funds LLC now owns 109,552 shares of the insurance provider's stock worth $1,341,000 after purchasing an additional 5,494 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in Heritage Insurance during the third quarter valued at approximately $1,541,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a report on Monday, November 25th.

Remove Ads

Heritage Insurance Stock Down 0.7 %

HRTG traded down $0.08 during midday trading on Monday, hitting $11.67. 140,386 shares of the company's stock traded hands, compared to its average volume of 166,031. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $358.08 million, a PE ratio of 4.67 and a beta of 1.01. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $16.90. The stock's fifty day simple moving average is $11.63 and its 200-day simple moving average is $12.46.

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