D L Carlson Investment Group Inc. Takes Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

D L Carlson Investment Group Inc. purchased a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) during the fourth quarter, Holdings Channel reports. The firm purchased 52,430 shares of the insurance provider’s stock, valued at approximately $634,000.

Several other institutional investors also recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its position in shares of Heritage Insurance by 109.7% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 29,499 shares of the insurance provider’s stock valued at $361,000 after buying an additional 15,433 shares in the last quarter. FMR LLC grew its position 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 valued at $1,072,000 after purchasing an additional 87,240 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Heritage Insurance by 412.8% during the third quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider’s stock worth $235,000 after purchasing an additional 15,468 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Heritage Insurance by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 7,545 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Heritage Insurance by 15.1% in the 3rd quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider’s stock valued at $400,000 after buying an additional 4,300 shares in the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 18th.

Heritage Insurance Stock Performance

Shares of Heritage Insurance stock opened at $14.76 on Monday. Heritage Insurance Holdings, Inc. has a 52 week low of $6.14 and a 52 week high of $16.90. 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 firm has a market capitalization of $632.32 million, a P/E ratio of 5.90 and a beta of 1.00. The firm’s 50 day moving average is $12.08 and its two-hundred day moving average is $12.10.

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

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

Insider Activity

In other news, Director Paul L. Whiting bought 10,000 shares of Heritage Insurance stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $13.35 per share, for a total transaction of $133,500.00. Following the acquisition, the director now owns 79,576 shares in the company, valued at approximately $1,062,339.60. This trade represents a 14.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kirk Lusk bought 6,000 shares of the stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $13.85 per share, with a total value of $83,100.00. Following the completion of the purchase, the chief financial officer now directly owns 618,756 shares in the company, valued at $8,569,770.60. This trade represents a 0.98 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 21,000 shares of company stock worth $280,450. Company insiders own 14.00% of the company’s stock.

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.