Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Acquires $63,850.00 in Stock

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

Heritage Insurance Trading Down 6.9 %

Shares of HRTG stock opened at $12.77 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance Holdings, Inc. has a twelve month low of $6.14 and a twelve month high of $16.90. The company’s 50-day moving average price is $11.62 and its 200-day moving average price is $12.22. The stock has a market cap of $391.77 million, a price-to-earnings ratio of 5.11 and a beta of 1.00.

Heritage Insurance (NYSE:HRTG) last posted its 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. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The company had revenue of $210.26 million for the quarter, compared to analyst estimates of $199.87 million. As a group, equities analysts predict 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 authorized a stock repurchase program on Monday, December 9th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp acquired a new position in shares of Heritage Insurance in the 4th quarter valued at $305,000. Public Employees Retirement System of Ohio acquired a new position in Heritage Insurance in the fourth quarter valued at about $797,000. Man Group plc purchased a new position in Heritage Insurance during the fourth quarter worth about $662,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Heritage Insurance during the fourth quarter valued at about $7,799,000. Finally, Graham Capital Management L.P. raised its stake in shares of Heritage Insurance by 213.7% in the 4th quarter. Graham Capital Management L.P. now owns 44,674 shares of the insurance provider’s stock valued at $541,000 after acquiring an additional 30,434 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Upgrades and Downgrades

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.