Stifel Financial Corp Decreases Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Stifel Financial Corp reduced its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 19.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,185 shares of the insurance provider’s stock after selling 13,400 shares during the quarter. Stifel Financial Corp owned 0.18% of Heritage Insurance worth $675,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Heritage Insurance by 7.4% in the second 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 during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Heritage Insurance in the third quarter valued at $1,541,000. Renaissance Technologies LLC grew its holdings in Heritage Insurance by 45.7% during the 2nd quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock valued at $3,088,000 after purchasing an additional 136,800 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Heritage Insurance by 263.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 87,814 shares of the insurance provider’s stock worth $622,000 after buying an additional 63,645 shares during the period. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Nicholas George Pappas sold 4,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.64, for a total value of $50,560.00. Following the completion of the transaction, the director now owns 76,314 shares in the company, valued at approximately $964,608.96. This trade represents a 4.98 % decrease in their position. The sale 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 Stock Performance

Shares of HRTG opened at $12.32 on Thursday. Heritage Insurance Holdings, Inc. has a 52-week low of $5.51 and a 52-week 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 firm has a market cap of $378.03 million, a price-to-earnings ratio of 4.93 and a beta of 1.02. The business’s 50 day moving average is $11.67 and its two-hundred day moving average is $11.12.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.25. The firm had revenue of $211.85 million for the quarter, compared to analysts’ expectations of $209.91 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. During the same period in the prior year, the company posted ($0.28) earnings per share. 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 authorized a share repurchase plan on Monday, December 9th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the insurance provider to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.