Empowered Funds LLC Purchases 5,579 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Empowered Funds LLC lifted its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,131 shares of the insurance provider’s stock after buying an additional 5,579 shares during the period. Empowered Funds LLC owned about 0.38% of Heritage Insurance worth $1,393,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HRTG. nVerses Capital LLC purchased a new stake in shares of Heritage Insurance during the third quarter valued at $49,000. SG Americas Securities LLC bought a new position in Heritage Insurance during the 4th quarter valued at about $134,000. MetLife Investment Management LLC boosted its holdings in shares of Heritage Insurance by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 7,545 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Heritage Insurance in the third quarter worth approximately $206,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Heritage Insurance by 412.8% during the third quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 15,468 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Insider Transactions at Heritage Insurance

In other news, Director Nicholas George Pappas sold 4,000 shares of the business’s 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 completion of the sale, the director now owns 76,314 shares of the company’s stock, valued at $964,608.96. The trade was a 4.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 14.00% of the company’s stock.

Heritage Insurance Stock Up 3.4 %

HRTG stock opened at $12.71 on Monday. The company has a market cap of $389.94 million, a price-to-earnings ratio of 5.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50-day moving average is $11.70 and its two-hundred day moving average is $12.24. Heritage Insurance Holdings, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $16.90.

Heritage Insurance declared that its board has authorized a stock buyback plan on Monday, December 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.