Heritage Insurance Holdings, Inc. (NYSE:HRTG) Shares Purchased by US Bancorp DE

US Bancorp DE boosted its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 91,671.4% in the 4th quarter, Holdings Channel reports. The firm owned 12,848 shares of the insurance provider’s stock after acquiring an additional 12,834 shares during the quarter. US Bancorp DE’s holdings in Heritage Insurance were worth $155,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new position in Heritage Insurance in the 3rd quarter valued at $1,541,000. Exchange Traded Concepts LLC acquired a new position in Heritage Insurance in the 4th quarter valued at $296,000. BNP Paribas Financial Markets raised its stake 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 purchasing an additional 15,468 shares during the last quarter. Ieq Capital LLC acquired a new position in Heritage Insurance in the 4th quarter valued at $303,000. Finally, State Street Corp raised its stake 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 purchasing an additional 79,802 shares during the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Heritage Insurance Stock Up 9.4 %

Shares of HRTG opened at $13.70 on Friday. Heritage Insurance Holdings, Inc. has a 52-week low of $6.14 and a 52-week high of $16.90. The company has a market capitalization of $420.49 million, a PE ratio of 5.48 and a beta of 1.00. The stock has a fifty day simple moving average of $11.59 and a two-hundred day simple moving average of $12.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $199.87 million. As a group, equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Heritage Insurance announced that its Board of Directors has initiated a share repurchase program on Monday, December 9th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.