Raymond James Financial Inc. Takes Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Raymond James Financial Inc. acquired a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 92,849 shares of the insurance provider's stock, valued at approximately $1,123,000. Raymond James Financial Inc. owned approximately 0.30% of Heritage Insurance as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted 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 acquiring an additional 87,240 shares during the last quarter. 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 valued at $235,000 after purchasing an additional 15,468 shares in the last quarter. MetLife Investment Management LLC grew its position 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 valued at $164,000 after purchasing an additional 7,545 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Heritage Insurance by 15.1% in the third quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider's stock worth $400,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Heritage Insurance in the third quarter worth about $502,000. Institutional investors own 59.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CEO Ernie J. Garateix acquired 5,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $12.77 per share, with a total value of $63,850.00. Following the completion of the purchase, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul L. Whiting bought 10,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were acquired at an average price 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 approximately $1,062,339.60. This trade represents 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 worth $280,450 over the last three months. 14.00% of the stock is owned by insiders.

Heritage Insurance Price Performance

Shares of Heritage Insurance stock traded up $0.50 during trading hours on Tuesday, reaching $14.79. The company's stock had a trading volume of 384,974 shares, compared to its average volume of 377,877. 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 one year low of $6.14 and a one year high of $16.90. The firm has a 50 day moving average price of $12.66 and a 200-day moving average price of $12.08. The stock has a market cap of $633.39 million, a P/E ratio of 5.91 and a beta of 0.93.

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

Heritage Insurance declared that its board has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $10.00 million in outstanding 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 usually an indication that the company's management believes its stock is undervalued.

About Heritage Insurance

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.