Fmr LLC Has $1.07 Million Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Fmr LLC boosted its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 28,416.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,547 shares of the insurance provider’s stock after acquiring an additional 87,240 shares during the period. Fmr LLC owned 0.29% of Heritage Insurance worth $1,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings 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 valued at $10,016,000 after purchasing an additional 96,923 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Heritage Insurance by 45.7% in the second quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock valued at $3,088,000 after buying an additional 136,800 shares in the last quarter. American Century Companies Inc. grew its position in Heritage Insurance by 63.3% in the second quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock valued at $3,064,000 after acquiring an additional 167,819 shares during the last quarter. Acadian Asset Management LLC raised its stake in Heritage Insurance by 226.3% during the second quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock worth $2,903,000 after acquiring an additional 284,710 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Heritage Insurance by 22.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider’s stock worth $4,756,000 after acquiring an additional 70,100 shares in the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

Heritage Insurance Price Performance

Heritage Insurance stock opened at $12.48 on Tuesday. The stock has a 50-day moving average price of $11.48 and a two-hundred day moving average price of $10.96. Heritage Insurance Holdings, Inc. has a 12 month low of $5.51 and a 12 month high of $16.90. The company has a market capitalization of $382.94 million, a PE ratio of 4.99 and a beta of 1.02. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.02 by $0.25. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The business had revenue of $211.85 million for the quarter, compared to the consensus estimate of $209.91 million. During the same period last year, the company earned ($0.28) EPS. Analysts expect that Heritage Insurance Holdings, Inc. will post 1.27 EPS for the current year.

Heritage Insurance declared that its Board of Directors has initiated a share buyback program on Monday, December 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Nicholas George Pappas sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.64, for a total transaction of $50,560.00. Following the completion of the transaction, the director now directly owns 76,314 shares in the company, valued at $964,608.96. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.