Heritage Insurance Holdings, Inc. (NYSE:HRTG) Position Decreased by Franklin Resources Inc.

Franklin Resources Inc. reduced its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 82.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,362 shares of the insurance provider’s stock after selling 61,931 shares during the quarter. Franklin Resources Inc.’s holdings in Heritage Insurance were worth $164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HRTG. American Century Companies Inc. boosted its stake in shares of Heritage Insurance by 63.3% during the 2nd quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock worth $3,064,000 after acquiring an additional 167,819 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Heritage Insurance by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock worth $10,016,000 after purchasing an additional 96,923 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Heritage Insurance during the 3rd quarter worth about $1,541,000. Renaissance Technologies LLC lifted its stake in Heritage Insurance by 45.7% during the second quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock valued at $3,088,000 after buying an additional 136,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Heritage Insurance by 263.3% during the second quarter. Bank of New York Mellon Corp now owns 87,814 shares of the insurance provider’s stock valued at $622,000 after acquiring an additional 63,645 shares during the period. 59.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Heritage Insurance

In related 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 transaction, the director now directly owns 76,314 shares in the company, valued at $964,608.96. This represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 14.00% of the company’s stock.

Heritage Insurance Stock Up 1.0 %

Shares of HRTG stock opened at $12.22 on Friday. Heritage Insurance Holdings, Inc. has a one year low of $5.51 and a one year high of $16.90. 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 stock has a fifty day moving average price of $11.87 and a 200 day moving average price of $11.28. The stock has a market cap of $374.91 million, a P/E ratio of 4.89 and a beta of 1.02.

Heritage Insurance (NYSE:HRTG) last posted its 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. The business had revenue of $211.85 million during the quarter, compared to the consensus estimate of $209.91 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. During the same quarter last year, the company earned ($0.28) EPS. Analysts predict that Heritage Insurance Holdings, Inc. will post 1.27 earnings per share for the current year.

Heritage Insurance announced that its board has approved a share buyback plan on Monday, December 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.