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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $13.35 per share, with a total value of $133,500.00. Following the transaction, the director now directly owns 79,576 shares of the company’s stock, valued at approximately $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 this link.

Heritage Insurance Price Performance

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

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, topping the consensus estimate of ($0.17) by $0.83. The company had revenue of $210.26 million during the quarter, compared to the consensus estimate of $199.87 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. Analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Heritage Insurance declared that its Board of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Heritage Insurance by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider’s stock worth $18,993,000 after acquiring an additional 193,590 shares in the last quarter. Vanguard Group Inc. increased its position in Heritage Insurance by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,328,135 shares of the insurance provider’s stock worth $16,070,000 after purchasing an additional 9,452 shares in the last quarter. Invesco Ltd. lifted its stake in Heritage Insurance by 24.0% in the 4th quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider’s stock valued at $11,430,000 after purchasing an additional 182,624 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in Heritage Insurance by 33.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider’s stock valued at $9,844,000 after purchasing an additional 205,195 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Heritage Insurance during the fourth quarter valued at about $7,799,000. Institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

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

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.