Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk Purchases 6,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk acquired 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $13.85 per share, with a total value of $83,100.00. Following the completion of the acquisition, the chief financial officer now directly owns 618,756 shares of the company’s stock, valued at $8,569,770.60. This represents a 0.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Heritage Insurance Trading Down 6.9 %

NYSE:HRTG opened at $12.77 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $11.62 and its 200-day moving average is $12.22. The firm has a market cap of $391.77 million, a price-to-earnings ratio of 5.11 and a beta of 1.00. Heritage Insurance Holdings, Inc. has a 12 month low of $6.14 and a 12 month high of $16.90.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.83. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The firm had revenue of $210.26 million for the quarter, compared to the consensus estimate of $199.87 million. Equities analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

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

Institutional Trading of Heritage Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its position in shares of Heritage Insurance by 222.2% in the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 2,000 shares during the period. Triumph Capital Management bought a new stake in Heritage Insurance in the 4th quarter valued at $121,000. Cantor Fitzgerald L. P. bought a new stake in shares of Heritage Insurance in the fourth quarter valued at about $133,000. SG Americas Securities LLC acquired a new stake in shares of Heritage Insurance during the 4th quarter worth approximately $134,000. Finally, Brandywine Global Investment Management LLC increased its holdings in Heritage Insurance by 21.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock valued at $150,000 after buying an additional 2,210 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Ratings Changes

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

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.