Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk Acquires 6,000 Shares

Heritage Insurance Holdings, Inc. (NYSE:HRTG) CFO Kirk Lusk bought 6,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price 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. This trade represents a 0.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Heritage Insurance Stock Down 6.9 %

Shares of HRTG stock traded down $0.95 during trading hours on Monday, reaching $12.77. The company had a trading volume of 233,380 shares, compared to its average volume of 391,794. 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 Holdings, Inc. has a twelve month low of $6.14 and a twelve month high of $16.90. The company has a market capitalization of $391.77 million, a P/E ratio of 5.11 and a beta of 1.00. The stock’s fifty day simple moving average is $11.59 and its 200 day simple moving average is $12.25.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share (EPS) 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 business had revenue of $210.26 million during the quarter, compared to analyst estimates of $199.87 million. As a group, sell-side analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Heritage Insurance announced that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Heritage Insurance

A number of large investors have recently modified their holdings of HRTG. New York State Common Retirement Fund grew 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 valued at $35,000 after buying an additional 2,000 shares in the last quarter. Triumph Capital Management acquired a new stake in Heritage Insurance during the 4th quarter valued at approximately $121,000. Cantor Fitzgerald L. P. acquired a new stake in Heritage Insurance during the 4th quarter valued at approximately $133,000. SG Americas Securities LLC acquired a new stake in Heritage Insurance during the 4th quarter valued at approximately $134,000. Finally, Brandywine Global Investment Management LLC grew its stake in 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 purchasing an additional 2,210 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Monday, March 10th.

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.