Bailard Inc. Acquires New Shares in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Bailard Inc. bought a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 16,679 shares of the insurance provider’s stock, valued at approximately $202,000.

Several other large investors also recently bought and sold shares of the company. Segall Bryant & Hamill LLC acquired a new position in shares of Heritage Insurance during the 3rd quarter worth approximately $1,541,000. FMR LLC raised its holdings in shares of Heritage Insurance by 28,416.9% in the third quarter. FMR LLC now owns 87,547 shares of the insurance provider’s stock worth $1,072,000 after acquiring an additional 87,240 shares during the last quarter. State Street Corp raised its holdings in shares of Heritage Insurance by 27.4% in the third quarter. State Street Corp now owns 371,057 shares of the insurance provider’s stock worth $4,542,000 after acquiring an additional 79,802 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Heritage Insurance by 22.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider’s stock valued at $4,756,000 after acquiring an additional 70,100 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Heritage Insurance during the third quarter valued at $502,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Trading Up 1.8 %

Shares of HRTG opened at $11.75 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 company has a market capitalization of $360.51 million, a PE ratio of 4.70 and a beta of 1.01. The stock has a fifty day moving average of $11.60 and a two-hundred day moving average of $12.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Insurance declared that its board has authorized a stock buyback program on Monday, December 9th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Monday, November 25th.

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.