Paul L. Whiting Acquires 10,000 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) 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 bought 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 in the company, valued at $1,062,339.60. This represents a 14.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Heritage Insurance Price Performance

Shares of NYSE HRTG opened at $13.86 on Wednesday. Heritage Insurance Holdings, Inc. has a twelve month low of $6.14 and a twelve month high of $16.90. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $425.13 million, a price-to-earnings ratio of 5.54 and a beta of 1.00. The firm has a 50-day moving average of $11.66 and a two-hundred day moving average of $12.21.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.83. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The company had revenue of $210.26 million during the quarter, compared to analyst estimates of $199.87 million. As a group, analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Heritage Insurance announced that its board has approved a share repurchase plan on Monday, December 9th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Institutional Trading of Heritage Insurance

Hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its stake 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 valued at $35,000 after buying an additional 2,000 shares in the last quarter. Triumph Capital Management purchased a new stake in Heritage Insurance during the fourth quarter valued at about $121,000. Cantor Fitzgerald L. P. purchased a new stake in Heritage Insurance during the fourth quarter valued at about $133,000. SG Americas Securities LLC purchased a new stake in Heritage Insurance during the fourth quarter valued at about $134,000. Finally, Brandywine Global Investment Management LLC lifted its position in shares of Heritage Insurance by 21.7% in the fourth quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 2,210 shares in the last quarter. 59.03% of the stock is owned by hedge funds and other 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.