New York State Common Retirement Fund Raises Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

New York State Common Retirement Fund grew its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 222.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,900 shares of the insurance provider’s stock after purchasing an additional 2,000 shares during the period. New York State Common Retirement Fund’s holdings in Heritage Insurance were worth $35,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC grew its position in Heritage Insurance by 5.1% in the 4th quarter. Empowered Funds LLC now owns 115,131 shares of the insurance provider’s stock worth $1,393,000 after purchasing an additional 5,579 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Heritage Insurance in the 4th quarter worth $296,000. SG Americas Securities LLC purchased a new stake in Heritage Insurance in the 4th quarter worth $134,000. State Street Corp raised its position in shares of Heritage Insurance by 27.4% during the 3rd quarter. State Street Corp now owns 371,057 shares of the insurance provider’s stock valued at $4,542,000 after buying an additional 79,802 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Heritage Insurance during the 3rd quarter valued at about $467,000. Institutional investors own 59.03% of the company’s stock.

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.

Heritage Insurance Price Performance

Shares of HRTG stock opened at $11.48 on Friday. The company’s 50-day simple moving average is $11.58 and its two-hundred day simple moving average is $12.41. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $16.90. The company has a market capitalization of $352.25 million, a P/E ratio of 4.59 and a beta of 1.01. 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 announced that its Board of Directors has authorized a stock repurchase program on Monday, December 9th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.