Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stake Raised by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC grew its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 176.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,556 shares of the insurance provider’s stock after purchasing an additional 222,689 shares during the period. Segall Bryant & Hamill LLC’s holdings in Heritage Insurance were worth $4,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. New York State Common Retirement Fund lifted its stake in Heritage Insurance by 222.2% during the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 2,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Heritage Insurance by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,874 shares of the insurance provider’s stock valued at $809,000 after acquiring an additional 2,808 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Heritage Insurance by 15.1% during the 3rd quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider’s stock worth $400,000 after acquiring an additional 4,300 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Heritage Insurance by 5.1% in the 4th quarter. Empowered Funds LLC now owns 115,131 shares of the insurance provider’s stock worth $1,393,000 after acquiring an additional 5,579 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Heritage Insurance by 7.2% during the fourth quarter. Victory Capital Management Inc. now owns 89,000 shares of the insurance provider’s stock worth $1,077,000 after purchasing an additional 6,000 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 research note on Tuesday, March 18th.

Heritage Insurance Trading Down 0.7 %

Heritage Insurance stock opened at $13.78 on Friday. Heritage Insurance Holdings, Inc. has a 52 week low of $6.14 and a 52 week high of $16.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $590.51 million, a price-to-earnings ratio of 5.51 and a beta of 1.00. The company has a 50 day moving average price of $12.01 and a 200 day moving average price of $12.15.

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

Heritage Insurance declared that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Ernie J. Garateix bought 5,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was bought at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now directly owns 1,270,808 shares in the company, valued at $16,228,218.16. This represents a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirk Lusk purchased 6,000 shares of the stock in a transaction dated Friday, March 14th. The shares were bought at an average price of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the acquisition, the chief financial officer now owns 618,756 shares in the company, valued at $8,569,770.60. This represents a 0.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 21,000 shares of company stock worth $280,450. 14.00% of the stock is currently owned by company insiders.

Heritage Insurance 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.