Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix Purchases 5,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $12.77 per share, with a total value of $63,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,270,808 shares of the company’s stock, valued at $16,228,218.16. This trade represents a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Heritage Insurance Stock Down 6.9 %

HRTG stock opened at $12.77 on Tuesday. The firm’s fifty 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 PE ratio of 5.11 and a beta of 1.00. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $16.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76.

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

Heritage Insurance declared that its Board of Directors has authorized a stock buyback program on Monday, December 9th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC purchased a new position in Heritage Insurance during the third quarter valued at $1,541,000. Exchange Traded Concepts LLC purchased a new position in Heritage Insurance in the 4th quarter valued at about $296,000. BNP Paribas Financial Markets boosted its holdings in Heritage Insurance by 412.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider’s stock worth $235,000 after buying an additional 15,468 shares during the last quarter. Ieq Capital LLC acquired a new stake in Heritage Insurance in the 4th quarter worth about $303,000. Finally, State Street Corp increased its stake in Heritage Insurance by 27.4% during the 3rd quarter. State Street Corp now owns 371,057 shares of the insurance provider’s stock worth $4,542,000 after buying an additional 79,802 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report 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.