Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Purchases $63,850.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix purchased 5,000 shares of the stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. The trade was a 0.40 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Heritage Insurance Trading Down 6.9 %

Shares of HRTG stock traded down $0.95 on Monday, hitting $12.77. 233,380 shares of the stock traded hands, compared to its average volume of 391,794. The firm’s 50-day moving average price is $11.59 and its two-hundred day moving average price is $12.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $391.77 million, a PE ratio of 5.11 and a beta of 1.00. Heritage Insurance Holdings, Inc. has a twelve month low of $6.14 and a twelve month high of $16.90.

Heritage Insurance (NYSE:HRTG) last posted 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. 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 for the quarter, compared to analysts’ expectations of $199.87 million. As a group, analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 10th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC acquired a new position in Heritage Insurance in the third quarter valued at about $1,541,000. Exchange Traded Concepts LLC acquired a new position in Heritage Insurance in the fourth quarter valued at about $296,000. BNP Paribas Financial Markets lifted its position in Heritage Insurance by 412.8% in the third quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider’s stock valued at $235,000 after buying an additional 15,468 shares during the last quarter. Ieq Capital LLC acquired a new position in Heritage Insurance in the fourth quarter valued at about $303,000. Finally, State Street Corp lifted its position in Heritage Insurance by 27.4% in the third quarter. State Street Corp now owns 371,057 shares of the insurance provider’s stock valued at $4,542,000 after buying an additional 79,802 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.