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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting purchased 10,000 shares of the stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $13.35 per share, with a total value of $133,500.00. Following the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Heritage Insurance Price Performance

Shares of HRTG opened at $12.77 on Tuesday. The firm has a market cap of $391.77 million, a PE ratio of 5.11 and a beta of 1.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a 1-year low of $6.14 and a 1-year high of $16.90. The firm has a fifty day simple moving average of $11.62 and a two-hundred day simple moving average of $12.22.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.83. The business 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%. On average, equities analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Heritage Insurance announced that its board has approved a share repurchase program on Monday, December 9th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds have recently modified their holdings of HRTG. Dimensional Fund Advisors LP lifted its position in shares of Heritage Insurance by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider’s stock valued at $18,993,000 after acquiring an additional 193,590 shares in the last quarter. Vanguard Group Inc. raised its stake in Heritage Insurance by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,328,135 shares of the insurance provider’s stock valued at $16,070,000 after purchasing an additional 9,452 shares during the period. Invesco Ltd. lifted its holdings in 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 in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Heritage Insurance by 33.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider’s stock worth $9,844,000 after purchasing an additional 205,195 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Heritage Insurance during the 4th quarter valued at approximately $7,799,000. 59.03% of the stock is currently owned by institutional investors.

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.