Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Acquires $83,100.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk bought 6,000 shares of the stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $13.85 per share, for a total transaction of $83,100.00. Following the acquisition, the chief financial officer now directly owns 618,756 shares of the company’s stock, valued at $8,569,770.60. The trade was a 0.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Heritage Insurance Price Performance

Shares of NYSE:HRTG traded down $0.95 on Monday, hitting $12.77. The company had a trading volume of 233,380 shares, compared to its average volume of 391,794. 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 52-week low of $6.14 and a 52-week high of $16.90. The business has a 50 day moving average of $11.59 and a 200 day moving average of $12.25. The company has a market cap of $391.77 million, a PE ratio of 5.11 and a beta of 1.00.

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

Heritage Insurance announced that its Board of Directors has initiated a stock 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 repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Heritage Insurance

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cornercap Investment Counsel Inc. purchased a new position in Heritage Insurance during the third quarter worth about $206,000. Empowered Funds LLC lifted its position in Heritage Insurance by 5.3% during the third quarter. Empowered Funds LLC now owns 109,552 shares of the insurance provider’s stock worth $1,341,000 after buying an additional 5,494 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Heritage Insurance during the third quarter worth about $1,541,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Heritage Insurance by 22.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider’s stock worth $4,756,000 after buying an additional 70,100 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its position in Heritage Insurance by 109.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 29,499 shares of the insurance provider’s stock worth $361,000 after buying an additional 15,433 shares during the period. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.