Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting Purchases 10,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were acquired at an average cost of $13.35 per share, for a total transaction of $133,500.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Heritage Insurance Stock Performance

NYSE:HRTG opened at $12.77 on Tuesday. The stock has a market cap of $391.77 million, a P/E ratio of 5.11 and a beta of 1.00. The firm’s fifty day simple moving average is $11.62 and its 200 day simple moving average is $12.22. Heritage Insurance Holdings, Inc. has a twelve month low of $6.14 and a twelve month high of $16.90. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42.

Heritage Insurance (NYSE:HRTG) last announced 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 firm had revenue of $210.26 million for the quarter, compared to analysts’ expectations of $199.87 million. As a group, research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Heritage Insurance announced that its Board of Directors has approved a share buyback plan on Monday, December 9th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Heritage Insurance

A number of hedge funds have recently modified their holdings of HRTG. New York State Common Retirement Fund boosted its holdings in shares of Heritage Insurance by 222.2% during the 4th 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 bought a new stake in shares of Heritage Insurance during the 4th quarter valued at $121,000. Cantor Fitzgerald L. P. purchased a new position in shares of Heritage Insurance in the 4th quarter worth about $133,000. SG Americas Securities LLC purchased a new position in shares of Heritage Insurance in the 4th quarter worth about $134,000. Finally, Brandywine Global Investment Management LLC raised its position in shares of Heritage Insurance by 21.7% in the 4th 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 during the last quarter. Institutional investors 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.