Insider Buying: Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Buys 6,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk acquired 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the transaction, the chief financial officer now directly owns 618,756 shares of the company’s stock, valued at $8,569,770.60. The trade was a 0.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Heritage Insurance Stock Up 0.1 %

HRTG stock opened at $13.90 on Thursday. Heritage Insurance Holdings, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $16.90. The business’s 50-day moving average is $11.70 and its two-hundred day moving average is $12.22. 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 company has a market cap of $426.35 million, a price-to-earnings ratio of 5.56 and a beta of 1.00.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share for the quarter, beating 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 company had revenue of $210.26 million for the quarter, compared to the consensus estimate of $199.87 million. As a group, analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Heritage Insurance declared that its board has authorized a share repurchase plan on Monday, December 9th that permits the company to repurchase $10.00 million in outstanding 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 typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HRTG. New York State Common Retirement Fund raised 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 buying an additional 2,000 shares during the period. Triumph Capital Management bought a new position in shares of Heritage Insurance in the fourth quarter worth about $121,000. Cantor Fitzgerald L. P. bought a new position in shares of Heritage Insurance in the fourth quarter worth about $133,000. SG Americas Securities LLC bought a new position in shares of Heritage Insurance in the fourth quarter worth about $134,000. Finally, Aquatic Capital Management LLC bought a new position in shares of Heritage Insurance in the fourth quarter worth about $150,000. Institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

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