Russell Investments Group Ltd. Cuts Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Russell Investments Group Ltd. lessened its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 43.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,430 shares of the insurance provider's stock after selling 15,958 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Heritage Insurance worth $247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. New York State Common Retirement Fund increased its position in Heritage Insurance by 222.2% during the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock worth $35,000 after buying an additional 2,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in Heritage Insurance in the 4th quarter valued at $134,000. Brandywine Global Investment Management LLC lifted its holdings in Heritage Insurance by 21.7% during the 4th quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider's stock valued at $150,000 after purchasing an additional 2,210 shares during the last quarter. US Bancorp DE boosted its position in Heritage Insurance by 91,671.4% during the fourth quarter. US Bancorp DE now owns 12,848 shares of the insurance provider's stock worth $155,000 after purchasing an additional 12,834 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Heritage Insurance by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider's stock valued at $162,000 after purchasing an additional 2,058 shares during the last quarter. 59.03% of the stock is owned by institutional investors.

Heritage Insurance Price Performance

Shares of Heritage Insurance stock traded up $0.36 during trading on Tuesday, reaching $19.25. 129,661 shares of the company's stock were exchanged, compared to its average volume of 245,661. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Insurance Holdings, Inc. has a 1-year low of $6.14 and a 1-year high of $19.93. The company has a market cap of $824.46 million, a P/E ratio of 7.70 and a beta of 0.93. The firm's 50-day moving average price is $14.47 and its 200 day moving average price is $12.63.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.83. The firm 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%. As a group, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In other Heritage Insurance news, Director Paul L. Whiting bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $13.35 per share, with a total value of $133,500.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ernie J. Garateix bought 5,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now directly owns 1,270,808 shares in the company, valued at $16,228,218.16. This trade represents a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 21,000 shares of company stock valued at $280,450. 14.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.