Exchange Traded Concepts LLC Makes New $296,000 Investment in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Exchange Traded Concepts LLC acquired a new position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,473 shares of the insurance provider’s stock, valued at approximately $296,000. Exchange Traded Concepts LLC owned about 0.08% of Heritage Insurance at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HRTG. Dimensional Fund Advisors LP lifted its position in shares of Heritage Insurance by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock worth $10,016,000 after acquiring an additional 96,923 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Heritage Insurance during the 3rd quarter valued at $1,541,000. BNP Paribas Financial Markets increased its stake in shares of Heritage Insurance by 412.8% in the third quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider’s stock valued at $235,000 after buying an additional 15,468 shares in the last quarter. State Street Corp increased its position in Heritage Insurance by 27.4% in the 3rd quarter. State Street Corp now owns 371,057 shares of the insurance provider’s stock valued at $4,542,000 after acquiring an additional 79,802 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in Heritage Insurance by 413.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 74,772 shares of the insurance provider’s stock worth $529,000 after purchasing an additional 60,207 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Heritage Insurance Stock Up 1.4 %

Heritage Insurance stock opened at $11.03 on Friday. The company’s 50 day simple moving average is $11.86 and its 200 day simple moving average is $11.89. The firm has a market capitalization of $338.40 million, a price-to-earnings ratio of 4.41 and a beta of 1.03. Heritage Insurance Holdings, Inc. has a fifty-two week low of $5.51 and a fifty-two week high of $16.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.25. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The business had revenue of $211.85 million for the quarter, compared to analysts’ expectations of $209.91 million. During the same quarter in the previous year, the business posted ($0.28) EPS. As a group, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.34 EPS for the current year.

Heritage Insurance declared that its board has authorized a stock repurchase plan on Monday, December 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Heritage Insurance

In related news, Director Nicholas George Pappas sold 4,000 shares of Heritage Insurance stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.64, for a total value of $50,560.00. Following the sale, the director now owns 76,314 shares of the company’s stock, valued at approximately $964,608.96. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.00% of the company’s stock.

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.