BNP Paribas Arbitrage SA cut its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 57.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,087 shares of the insurance provider’s stock after selling 6,890 shares during the period. BNP Paribas Arbitrage SA’s holdings in Heritage Insurance were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in HRTG. Acuitas Investments LLC raised its holdings in Heritage Insurance by 1,183.4% during the 2nd quarter. Acuitas Investments LLC now owns 3,099,791 shares of the insurance provider’s stock worth $361,000 after buying an additional 2,858,261 shares during the period. BlackRock Inc. grew its stake in shares of Heritage Insurance by 8.5% in the first quarter. BlackRock Inc. now owns 2,585,817 shares of the insurance provider’s stock valued at $28,651,000 after buying an additional 202,118 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Heritage Insurance by 10.9% in the first quarter. Geode Capital Management LLC now owns 424,257 shares of the insurance provider’s stock valued at $4,700,000 after buying an additional 41,687 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Heritage Insurance by 1.1% in the first quarter. Nuveen Asset Management LLC now owns 303,103 shares of the insurance provider’s stock valued at $3,358,000 after buying an additional 3,316 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Heritage Insurance by 4.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 254,952 shares of the insurance provider’s stock valued at $2,825,000 after buying an additional 9,757 shares in the last quarter. Institutional investors own 65.46% of the company’s stock.
In related news, Chairman Richard A. Widdicombe purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 17th. The stock was acquired at an average price of $5.84 per share, with a total value of $58,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirk Lusk purchased 8,650 shares of the company’s stock in a transaction that occurred on Thursday, September 16th. The stock was bought at an average cost of $5.75 per share, with a total value of $49,737.50. The disclosure for this purchase can be found here. Insiders have bought 23,885 shares of company stock valued at $140,780 in the last three months. Insiders own 8.50% of the company’s stock.
Heritage Insurance (NYSE:HRTG) last posted its earnings results on Thursday, August 5th. The insurance provider reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. Heritage Insurance had a negative return on equity of 2.65% and a negative net margin of 1.85%. The company had revenue of $150.20 million during the quarter, compared to the consensus estimate of $140.10 million. Research analysts anticipate that Heritage Insurance Holdings, Inc. will post 0.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 6th. Stockholders of record on Wednesday, September 15th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Tuesday, September 14th. Heritage Insurance’s dividend payout ratio is currently 72.73%.
A number of research firms have commented on HRTG. Piper Sandler reaffirmed an “overweight” rating on shares of Heritage Insurance in a research report on Sunday, July 25th. Zacks Investment Research raised shares of Heritage Insurance from a “sell” rating to a “hold” rating in a research report on Friday, October 1st.
Heritage Insurance Profile
Heritage Insurance Holdings, Inc engages in the provision of personal and residential premium, property, and casualty insurance policies. It offers personal residential insurance for single-family homeowners and condominium owners, rental property insurance, and commercial residential insurance. The company was founded in August 2012 and is headquartered in Clearwater, FL.
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