Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk Acquires 6,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk purchased 6,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $13.85 per share, with a total value of $83,100.00. Following the transaction, the chief financial officer now owns 618,756 shares in the company, valued at approximately $8,569,770.60. The trade was a 0.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Heritage Insurance Stock Up 8.3 %

HRTG stock opened at $13.86 on Wednesday. The company has a market cap of $425.13 million, a price-to-earnings ratio of 5.54 and a beta of 1.00. 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 12 month low of $6.14 and a 12 month high of $16.90. The firm has a 50-day moving average of $11.66 and a two-hundred day moving average of $12.21.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.83. The company had revenue of $210.26 million during the quarter, compared to the consensus estimate 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 forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Heritage Insurance announced that its board has authorized a stock repurchase plan on Monday, December 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the insurance provider to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Heritage Insurance

Hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund grew its stake in shares of Heritage Insurance by 222.2% in 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 during the period. Triumph Capital Management purchased a new stake in shares of Heritage Insurance in the 4th quarter valued at approximately $121,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Heritage Insurance in the 4th quarter valued at approximately $133,000. SG Americas Securities LLC purchased a new stake in shares of Heritage Insurance in the 4th quarter valued at approximately $134,000. Finally, Brandywine Global Investment Management LLC grew its stake in shares of Heritage Insurance by 21.7% in 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 during the period. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.