Barclays PLC Lowers Stock Holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Barclays PLC lowered its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 19.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,135 shares of the insurance provider’s stock after selling 9,745 shares during the period. Barclays PLC owned about 0.13% of Heritage Insurance worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Heritage Insurance during the 3rd quarter worth approximately $49,000. Sei Investments Co. purchased a new stake in Heritage Insurance during the 2nd quarter worth approximately $102,000. MetLife Investment Management LLC boosted its holdings in Heritage Insurance by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 7,545 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in Heritage Insurance during the 3rd quarter worth approximately $206,000. Finally, Rhumbline Advisers raised its stake in Heritage Insurance by 2,282.1% in the second quarter. Rhumbline Advisers now owns 30,967 shares of the insurance provider’s stock valued at $219,000 after buying an additional 29,667 shares in the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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 shares were sold at an average price of $12.64, for a total transaction of $50,560.00. Following the sale, the director now directly owns 76,314 shares in the company, valued at $964,608.96. The trade was a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.00% of the stock is currently owned by insiders.

Heritage Insurance Price Performance

NYSE:HRTG opened at $12.22 on Friday. The firm has a market cap of $374.91 million, a price-to-earnings ratio of 4.89 and a beta of 1.02. Heritage Insurance Holdings, Inc. has a 12-month low of $5.51 and a 12-month high of $16.90. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $11.87 and its two-hundred day moving average is $11.28.

Heritage Insurance (NYSE:HRTG) last announced its quarterly 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 return on equity of 29.17% and a net margin of 9.10%. The company had revenue of $211.85 million during the quarter, compared to analyst estimates of $209.91 million. During the same period in the prior year, the firm posted ($0.28) earnings per share. Research analysts expect that Heritage Insurance Holdings, Inc. will post 1.27 EPS for the current year.

Heritage Insurance announced that its board has initiated a share buyback plan on Monday, December 9th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors 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.