Assenagon Asset Management S.A. Lowers Stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Assenagon Asset Management S.A. trimmed its holdings in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 37.1% in the fourth quarter, according to its most recent disclosure with the 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.’s holdings in Heritage Insurance were worth $1,788,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its position 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 purchasing an additional 167,819 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Heritage Insurance by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock worth $10,016,000 after buying an additional 96,923 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Heritage Insurance during the 3rd quarter valued at approximately $1,541,000. Renaissance Technologies LLC boosted its stake 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 worth $3,088,000 after acquiring an additional 136,800 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Heritage Insurance by 412.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider’s stock worth $235,000 after acquiring an additional 15,468 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Heritage Insurance Trading Up 2.6 %

Shares of HRTG stock opened at $11.29 on Friday. The company has a market capitalization of $346.29 million, a price-to-earnings ratio of 4.51 and a beta of 1.03. 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 firm has a 50-day moving average price of $11.95 and a 200 day moving average price of $11.74. Heritage Insurance Holdings, Inc. has a twelve month low of $5.51 and a twelve month high of $16.90.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, beating 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 the consensus estimate of $209.91 million. During the same period in the previous year, the firm posted ($0.28) EPS. Research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.34 earnings per share for the current fiscal year.

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

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 transaction, the director now directly owns 76,314 shares of the company’s stock, valued at approximately $964,608.96. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 14.00% of the company’s stock.

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.