Heritage Insurance Holdings, Inc. (NYSE:HRTG) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 37.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,780 shares of the insurance provider’s stock after selling 87,239 shares during the period. Assenagon Asset Management S.A. owned about 0.48% of Heritage Insurance worth $1,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 96,923 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of 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 acquiring an additional 136,800 shares during the period. American Century Companies Inc. increased its stake in shares of Heritage Insurance by 63.3% in the 2nd quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock valued at $3,064,000 after purchasing an additional 167,819 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Heritage Insurance by 22.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider’s stock worth $4,756,000 after purchasing an additional 70,100 shares during the period. Finally, State Street Corp raised its holdings in Heritage Insurance by 27.4% in the 3rd quarter. State Street Corp now owns 371,057 shares of the insurance provider’s stock worth $4,542,000 after purchasing an additional 79,802 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Stock Up 2.6 %

Shares of NYSE HRTG opened at $11.29 on Friday. The company has a market capitalization of $346.29 million, a P/E ratio of 4.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The company has a 50 day simple moving average of $11.95 and a 200-day simple moving average of $11.74. Heritage Insurance Holdings, Inc. has a 1 year low of $5.51 and a 1 year high of $16.90.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data 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 firm had revenue of $211.85 million for the quarter, compared to analyst estimates of $209.91 million. During the same period in the prior year, the business posted ($0.28) EPS. On average, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.34 earnings per share for the current year.

Heritage Insurance announced that its board has authorized a stock repurchase program on Monday, December 9th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, Director Nicholas George Pappas sold 4,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.64, for a total value of $50,560.00. Following the sale, the director now directly owns 76,314 shares of the company’s stock, valued at approximately $964,608.96. This represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 14.00% of the stock is owned by corporate insiders.

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.