By otakuyassine3@gmail.com 
O Shaughnessy Asset Management LLC reduced its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG – Free Report) by 49.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 26,732 shares of the insurance provider’s stock after selling 26,202 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Heritage Insurance were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of HRTG. Exchange Traded Concepts LLC acquired a new position in shares of Heritage Insurance during the fourth quarter valued at about $296,000. Ieq Capital LLC bought a new position in Heritage Insurance during the fourth quarter valued at about $303,000. BNP Paribas Financial Markets raised its holdings in Heritage Insurance by 412.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 15,468 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Heritage Insurance in the 4th quarter worth approximately $1,123,000. Finally, Prudential Financial Inc. grew its holdings in shares of Heritage Insurance by 323.8% during the 4th quarter. Prudential Financial Inc. now owns 93,975 shares of the insurance provider’s stock worth $1,137,000 after purchasing an additional 71,800 shares in the last quarter. 59.03% of the stock is owned by institutional investors.
Heritage Insurance Stock Performance
NYSE HRTG opened at $16.23 on Friday. Heritage Insurance Holdings, Inc. has a twelve month low of $6.14 and a twelve month 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 stock has a market cap of $695.38 million, a P/E ratio of 6.49 and a beta of 0.93. The company’s 50-day simple moving average is $13.03 and its 200 day simple moving average is $12.10.
Heritage Insurance (NYSE:HRTG – Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.83. The company had revenue of $210.26 million for the quarter, compared to analyst estimates of $199.87 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. As a group, research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Paul L. Whiting purchased 10,000 shares of Heritage Insurance stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $13.35 per share, for a total transaction of $133,500.00. Following the completion of the transaction, the director now directly owns 79,576 shares in the company, valued at approximately $1,062,339.60. This represents a 14.37 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirk Lusk acquired 6,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $13.85 per share, with a total value of $83,100.00. Following the acquisition, the chief financial officer now owns 618,756 shares of the company’s stock, valued at approximately $8,569,770.60. This represents a 0.98 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 21,000 shares of company stock worth $280,450 over the last three months. 14.00% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 18th.
Read Our Latest Stock Report on HRTG
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.
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