Heritage Insurance Holdings, Inc. (NYSE:HRTG) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 412.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,215 shares of the insurance provider’s stock after purchasing an additional 15,468 shares during the period. BNP Paribas Financial Markets owned 0.06% of Heritage Insurance worth $235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Heritage Insurance during the second quarter worth about $30,000. nVerses Capital LLC purchased a new position in Heritage Insurance during the 3rd quarter worth $49,000. Valmark Advisers Inc. acquired a new stake in shares of Heritage Insurance during the second quarter worth about $80,000. Sei Investments Co. purchased a new position in shares of Heritage Insurance during the second quarter worth about $102,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Heritage Insurance during the third quarter worth about $206,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Trading Down 0.8 %

Shares of HRTG opened at $12.48 on Tuesday. Heritage Insurance Holdings, Inc. has a 1-year low of $5.51 and a 1-year high of $16.90. The stock has a market cap of $382.94 million, a price-to-earnings ratio of 4.99 and a beta of 1.02. The firm has a 50 day simple moving average of $11.48 and a 200-day simple moving average of $10.96. 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 announced its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The firm had revenue of $211.85 million for the quarter, compared to analyst estimates of $209.91 million. During the same quarter last year, the business earned ($0.28) earnings per share. Equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.27 EPS for the current fiscal year.

Heritage Insurance announced that its Board of Directors has initiated a share buyback program on Monday, December 9th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Nicholas George Pappas sold 4,000 shares of Heritage Insurance stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $12.64, for a total transaction of $50,560.00. Following the transaction, the director now owns 76,314 shares in the company, valued at approximately $964,608.96. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Heritage Insurance 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.