Insider Buying: Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Buys $83,100.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk bought 6,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $13.85 per share, with a total value of $83,100.00. Following the purchase, the chief financial officer now owns 618,756 shares of the company’s stock, valued at $8,569,770.60. This represents a 0.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Heritage Insurance Stock Performance

Shares of HRTG stock opened at $13.90 on Thursday. 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 fifty-two week low of $6.14 and a fifty-two week high of $16.90. The stock has a 50 day moving average price of $11.70 and a two-hundred day moving average price of $12.22. The company has a market capitalization of $426.35 million, a P/E ratio of 5.56 and a beta of 1.00.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.83. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The business had revenue of $210.26 million during the quarter, compared to the consensus estimate of $199.87 million. Analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Heritage Insurance announced that its board has approved a share repurchase 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 repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently modified their holdings of the stock. Stifel Financial Corp grew its stake in shares of Heritage Insurance by 3.0% in the fourth quarter. Stifel Financial Corp now owns 56,825 shares of the insurance provider’s stock worth $688,000 after acquiring an additional 1,640 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Heritage Insurance by 222.2% in the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 2,000 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Heritage Insurance by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider’s stock worth $162,000 after acquiring an additional 2,058 shares during the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of Heritage Insurance by 21.7% in the fourth quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock worth $150,000 after acquiring an additional 2,210 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of Heritage Insurance by 0.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 366,595 shares of the insurance provider’s stock valued at $4,436,000 after buying an additional 2,479 shares during the last quarter. 59.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note 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.