Prudential Financial Inc. Grows Stock Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Prudential Financial Inc. lifted its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 323.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,975 shares of the insurance provider's stock after acquiring an additional 71,800 shares during the quarter. Prudential Financial Inc. owned 0.31% of Heritage Insurance worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in Heritage Insurance by 28,416.9% during the 3rd 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 during the period. BNP Paribas Financial Markets grew its position in shares of Heritage Insurance by 412.8% during the third quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider's stock worth $235,000 after buying an additional 15,468 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Heritage Insurance by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider's stock worth $164,000 after buying an additional 7,545 shares during the period. Verition Fund Management LLC raised its holdings in Heritage Insurance by 15.1% in the third quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider's stock valued at $400,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in Heritage Insurance in the third quarter worth approximately $502,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Heritage Insurance

In other news, CEO Ernie J. Garateix bought 5,000 shares of Heritage Insurance stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $16,228,218.16. This trade represents a 0.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul L. Whiting purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average price of $13.35 per share, for a total transaction of $133,500.00. Following the purchase, 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. Insiders purchased a total of 21,000 shares of company stock valued at $280,450 over the last ninety days. Insiders own 14.00% of the company's stock.

Analysts Set New Price Targets

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

Heritage Insurance Stock Up 0.6 %

Shares of HRTG traded up $0.10 during mid-day trading on Friday, reaching $16.23. The company's stock had a trading volume of 348,441 shares, compared to its average volume of 378,650. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. Heritage Insurance Holdings, Inc. has a 12-month low of $6.14 and a 12-month high of $16.90. The stock has a market cap of $695.38 million, a PE ratio of 6.49 and a beta of 0.93. The company's 50 day moving average is $13.03 and its 200 day moving average is $12.10.

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

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.