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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CEO Ernie J. Garateix acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $12.77 per share, with a total value of $63,850.00. Following the completion of 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Heritage Insurance Stock Performance

NYSE HRTG opened at $13.86 on Wednesday. Heritage Insurance Holdings, Inc. has a 1 year low of $6.14 and a 1 year high of $16.90. 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 stock has a market capitalization of $425.13 million, a PE ratio of 5.54 and a beta of 1.00. The company’s 50 day simple moving average is $11.66 and its two-hundred day simple moving average is $12.21.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, topping 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 business had revenue of $210.26 million for the quarter, compared to analysts’ expectations of $199.87 million. Analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Heritage Insurance announced that its board has initiated a stock buyback 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

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

Institutional Trading of Heritage Insurance

Several institutional investors and hedge funds have recently bought and sold shares of HRTG. New York State Common Retirement Fund raised its position in shares of Heritage Insurance by 222.2% during 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 buying an additional 2,000 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of Heritage Insurance during the 4th quarter valued at $121,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Heritage Insurance during the 4th quarter valued at $133,000. SG Americas Securities LLC purchased a new stake in shares of Heritage Insurance during the 4th quarter valued at $134,000. Finally, Brandywine Global Investment Management LLC raised its position in shares of Heritage Insurance by 21.7% during the 4th quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock valued at $150,000 after buying an additional 2,210 shares in the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Insurance Company Profile

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.