Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting Purchases 10,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) Director Paul L. Whiting acquired 10,000 shares of the stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of $13.35 per share, with a total value of $133,500.00. Following the transaction, the director now directly owns 79,576 shares of the company's stock, valued at $1,062,339.60. This represents a 14.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Heritage Insurance Stock Down 1.6 %

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

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

Remove Ads

Heritage Insurance announced that its Board of Directors has approved a share repurchase 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 typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

Institutional Trading of Heritage Insurance

Large investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Heritage Insurance during the 4th quarter worth about $7,799,000. Segall Bryant & Hamill LLC boosted its stake in shares of Heritage Insurance by 176.9% in the 4th quarter. Segall Bryant & Hamill LLC now owns 348,556 shares of the insurance provider's stock valued at $4,218,000 after purchasing an additional 222,689 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its position in Heritage Insurance by 33.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider's stock worth $9,844,000 after buying an additional 205,195 shares during the period. Dimensional Fund Advisors LP lifted its position 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 worth $18,993,000 after purchasing an additional 193,590 shares during the period. Finally, Invesco Ltd. lifted its position 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 purchasing an additional 182,624 shares during the period. Institutional investors and hedge funds own 59.03% of the company's stock.

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.