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 purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now owns 1,270,808 shares in the company, valued at $16,228,218.16. This represents a 0.40 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Heritage Insurance Price Performance

Heritage Insurance stock opened at $13.86 on Wednesday. Heritage Insurance Holdings, Inc. has a 52 week low of $6.14 and a 52 week high of $16.90. The company’s 50 day moving average price is $11.66 and its two-hundred day moving average price is $12.21. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock has a market cap of $425.13 million, a P/E ratio of 5.54 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 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 firm had revenue of $210.26 million for the quarter, compared to analysts’ expectations of $199.87 million. On average, equities analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Heritage Insurance announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRTG. New York State Common Retirement Fund grew 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 acquiring an additional 2,000 shares during the period. Triumph Capital Management bought a new position in shares of Heritage Insurance during the 4th quarter valued at approximately $121,000. Cantor Fitzgerald L. P. bought a new position in shares of Heritage Insurance during the 4th quarter valued at approximately $133,000. SG Americas Securities LLC bought a new position in shares of Heritage Insurance during the 4th quarter valued at approximately $134,000. Finally, Brandywine Global Investment Management LLC grew 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 acquiring an additional 2,210 shares during the period. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of 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.