Insider Buying: Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Purchases 10,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul L. Whiting acquired 10,000 shares of Heritage Insurance stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $13.35 per share, with a total value of $133,500.00. Following the purchase, the director now directly owns 79,576 shares of the company’s stock, valued at approximately $1,062,339.60. This trade represents a 14.37 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Heritage Insurance Price Performance

NYSE:HRTG traded down $0.95 during mid-day trading on Monday, reaching $12.77. The stock had a trading volume of 233,380 shares, compared to its average volume of 391,794. The stock has a market capitalization of $391.77 million, a P/E ratio of 5.11 and a beta of 1.00. The firm has a 50 day moving average price of $11.59 and a two-hundred day moving average price of $12.25. 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 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, topping the consensus estimate of ($0.17) by $0.83. The business had revenue of $210.26 million during the quarter, compared to analyst estimates of $199.87 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. As a group, 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 initiated a stock repurchase program on Monday, December 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HRTG. Jacobs Levy Equity Management Inc. bought a new position in Heritage Insurance during the fourth quarter valued at $7,799,000. Segall Bryant & Hamill LLC boosted its stake in Heritage Insurance by 176.9% in the 4th quarter. Segall Bryant & Hamill LLC now owns 348,556 shares of the insurance provider’s stock worth $4,218,000 after purchasing an additional 222,689 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its position in Heritage Insurance by 33.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider’s stock valued at $9,844,000 after buying an additional 205,195 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Heritage Insurance by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider’s stock valued at $18,993,000 after buying an additional 193,590 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Heritage Insurance by 24.0% in the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider’s stock worth $11,430,000 after acquiring an additional 182,624 shares during the period. 59.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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