Russell Investments Group Ltd. Increases Stake in Heritage Insurance Holdings Inc (NYSE:HRTG)

Russell Investments Group Ltd. lifted its stake in shares of Heritage Insurance Holdings Inc (NYSE:HRTG) by 33.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,353 shares of the insurance provider’s stock after acquiring an additional 6,042 shares during the period. Russell Investments Group Ltd.’s holdings in Heritage Insurance were worth $363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in Heritage Insurance in the second quarter valued at approximately $35,000. Bank of Montreal Can raised its stake in shares of Heritage Insurance by 112,650.0% during the second quarter. Bank of Montreal Can now owns 2,255 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 2,253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Heritage Insurance by 71.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,641 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 1,097 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Heritage Insurance during the third quarter valued at approximately $72,000. Finally, Aperio Group LLC purchased a new stake in shares of Heritage Insurance during the second quarter valued at approximately $179,000. Hedge funds and other institutional investors own 66.57% of the company’s stock.

In other news, CEO Bruce Lucas sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $14.37, for a total transaction of $1,077,750.00. Following the completion of the sale, the chief executive officer now owns 801,859 shares of the company’s stock, valued at $11,522,713.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.00% of the stock is currently owned by company insiders.

HRTG opened at $13.69 on Monday. The firm has a market capitalization of $404.33 million, a P/E ratio of 13.69 and a beta of 0.72. The firm’s 50 day moving average is $14.04 and its 200-day moving average is $14.57. Heritage Insurance Holdings Inc has a 52-week low of $12.88 and a 52-week high of $16.38. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.29.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.14. The company had revenue of $131.70 million for the quarter, compared to analyst estimates of $120.96 million. Heritage Insurance had a net margin of 3.97% and a return on equity of 6.39%. Equities analysts expect that Heritage Insurance Holdings Inc will post 0.83 earnings per share for the current fiscal year.

HRTG has been the topic of a number of analyst reports. TheStreet upgraded shares of Heritage Insurance from a “c+” rating to a “b-” rating in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods lowered shares of Heritage Insurance from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $17.00 to $16.00 in a research note on Monday, November 4th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Heritage Insurance from a “hold” rating to a “sell” rating in a research note on Saturday, October 26th. Finally, ValuEngine lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Heritage Insurance presently has an average rating of “Hold” and an average price target of $17.25.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; rental property insurance; and commercial residential insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina, as well as residential wind-only property insurance.

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Institutional Ownership by Quarter for Heritage Insurance (NYSE:HRTG)

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