Insider Buying: Heritage Insurance Holdings, Inc. (NYSE:HRTG) Chairman Buys 10,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Chairman Richard A. Widdicombe acquired 10,000 shares of the company’s stock in a transaction on Friday, September 17th. The shares were bought at an average price of $5.84 per share, for a total transaction of $58,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NYSE HRTG traded up $0.18 during mid-day trading on Tuesday, reaching $6.55. 175,372 shares of the company’s stock were exchanged, compared to its average volume of 157,165. The firm has a market capitalization of $183.45 million, a price-to-earnings ratio of -15.17 and a beta of 0.70. Heritage Insurance Holdings, Inc. has a 52 week low of $5.47 and a 52 week high of $12.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day moving average price of $7.05 and a two-hundred day moving average price of $8.72.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Thursday, August 5th. The insurance provider reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. Heritage Insurance had a negative return on equity of 2.65% and a negative net margin of 1.85%. The company had revenue of $150.20 million during the quarter, compared to analyst estimates of $140.10 million. As a group, sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post -0.1 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 6th. Investors of record on Wednesday, September 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.66%. The ex-dividend date is Tuesday, September 14th. Heritage Insurance’s dividend payout ratio (DPR) is currently 72.73%.

Separately, Piper Sandler reiterated an “overweight” rating on shares of Heritage Insurance in a research note on Sunday, July 25th.

A number of institutional investors and hedge funds have recently made changes to their positions in HRTG. Group One Trading L.P. purchased a new stake in Heritage Insurance in the 1st quarter worth about $28,000. Citigroup Inc. grew its holdings in Heritage Insurance by 78.5% during the 2nd quarter. Citigroup Inc. now owns 3,461 shares of the insurance provider’s stock valued at $30,000 after buying an additional 1,522 shares in the last quarter. Quantbot Technologies LP purchased a new position in Heritage Insurance during the 1st quarter valued at about $41,000. UBS Group AG grew its holdings in Heritage Insurance by 95.6% during the 1st quarter. UBS Group AG now owns 5,914 shares of the insurance provider’s stock valued at $66,000 after buying an additional 2,891 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Heritage Insurance during the 1st quarter valued at about $123,000. 65.46% of the stock is owned by institutional investors.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc engages in the provision of personal and residential premium, property, and casualty insurance policies. It offers personal residential insurance for single-family homeowners and condominium owners, rental property insurance, and commercial residential insurance. The company was founded in August 2012 and is headquartered in Clearwater, FL.

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