Charles Schwab Investment Management Inc. Purchases 2,808 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Charles Schwab Investment Management Inc. increased its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,874 shares of the insurance provider’s stock after purchasing an additional 2,808 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Heritage Insurance were worth $809,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HRTG. Bailard Inc. acquired a new position in shares of Heritage Insurance in the 4th quarter valued at $202,000. US Bancorp DE raised its position in Heritage Insurance by 91,671.4% in the fourth quarter. US Bancorp DE now owns 12,848 shares of the insurance provider’s stock worth $155,000 after purchasing an additional 12,834 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Heritage Insurance during the fourth quarter worth about $229,000. Bank of New York Mellon Corp boosted its holdings in Heritage Insurance by 27.2% during the fourth quarter. Bank of New York Mellon Corp now owns 117,236 shares of the insurance provider’s stock valued at $1,419,000 after purchasing an additional 25,070 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Heritage Insurance in the 4th quarter valued at approximately $271,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kirk Lusk acquired 6,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were bought at an average price of $13.85 per share, for a total transaction of $83,100.00. Following the purchase, the chief financial officer now directly owns 618,756 shares in the company, valued at approximately $8,569,770.60. This trade represents a 0.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ernie J. Garateix purchased 5,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $12.77 per share, with a total value of $63,850.00. Following the purchase, the chief executive officer now owns 1,270,808 shares of the company’s stock, valued at approximately $16,228,218.16. The trade was a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 21,000 shares of company stock worth $280,450 over the last ninety days. 14.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com downgraded Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 18th.

Heritage Insurance Stock Performance

Shares of Heritage Insurance stock opened at $14.76 on Monday. Heritage Insurance Holdings, Inc. has a 52 week low of $6.14 and a 52 week high of $16.90. 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 stock has a market capitalization of $632.32 million, a price-to-earnings ratio of 5.90 and a beta of 1.00. The firm has a fifty day moving average of $12.08 and a two-hundred day moving average of $12.10.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.83. The firm had revenue of $210.26 million for the quarter, compared to analyst estimates of $199.87 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. As a group, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Heritage Insurance announced that its Board of Directors has initiated a share buyback plan on Monday, December 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication 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.