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

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

Heritage Insurance Price Performance

Shares of NYSE:HRTG opened at $13.90 on Thursday. The company has a market cap of $426.35 million, a price-to-earnings ratio of 5.56 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $11.70 and a 200 day simple moving average of $12.22. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $16.90.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.83. The business 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%. Research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Heritage Insurance

Several institutional investors and hedge funds have recently added to or reduced their stakes in HRTG. New York State Common Retirement Fund increased its position in Heritage Insurance by 222.2% in 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 acquiring an additional 2,000 shares during the period. Triumph Capital Management acquired a new position in Heritage Insurance in the 4th quarter valued at approximately $121,000. Cantor Fitzgerald L. P. acquired a new position in Heritage Insurance in the 4th quarter valued at approximately $133,000. SG Americas Securities LLC acquired a new position in Heritage Insurance in the 4th quarter valued at approximately $134,000. Finally, Aquatic Capital Management LLC acquired a new position in Heritage Insurance in the 4th quarter valued at approximately $150,000. Institutional investors own 59.03% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of 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.