Bailard Inc. Invests $202,000 in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Bailard Inc. purchased a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,679 shares of the insurance provider’s stock, valued at approximately $202,000. Bailard Inc. owned 0.05% of Heritage Insurance as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HRTG. New York State Common Retirement Fund grew its stake in shares of Heritage Insurance by 222.2% in the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 2,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in Heritage Insurance in the 4th quarter valued at $134,000. US Bancorp DE increased its stake in Heritage Insurance by 91,671.4% in the 4th quarter. US Bancorp DE now owns 12,848 shares of the insurance provider’s stock valued at $155,000 after buying an additional 12,834 shares during the period. MetLife Investment Management LLC raised its position in Heritage Insurance by 129.1% during the 3rd 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 last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Heritage Insurance in the 3rd quarter worth $206,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Heritage Insurance Trading Up 1.8 %

Shares of HRTG stock opened at $11.75 on Thursday. Heritage Insurance Holdings, Inc. has a 1-year low of $6.14 and a 1-year high of $16.90. 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 business’s fifty day moving average price is $11.60 and its 200 day moving average price is $12.41. The firm has a market capitalization of $360.51 million, a PE ratio of 4.70 and a beta of 1.01.

Heritage Insurance declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Monday, November 25th.

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.