Alps Advisors Inc. cut its stake in shares of Heritage Insurance Holdings Inc. (NYSE:HRTG) by 6.8% during the second quarter, Holdings Channel reports. The fund owned 26,699 shares of the company’s stock after selling 1,961 shares during the period. Alps Advisors Inc.’s holdings in Heritage Insurance Holdings were worth $320,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of HRTG. Glenmede Trust Co. NA acquired a new position in shares of Heritage Insurance Holdings during the first quarter valued at about $343,000. Prudential Financial Inc. acquired a new position in shares of Heritage Insurance Holdings during the first quarter valued at about $433,000. Goldman Sachs Group Inc. raised its position in shares of Heritage Insurance Holdings by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 49,608 shares of the company’s stock valued at $792,000 after buying an additional 3,597 shares during the last quarter. Bogle Investment Management L P DE acquired a new position in shares of Heritage Insurance Holdings during the first quarter valued at about $541,000. Finally, Renaissance Technologies LLC raised its position in shares of Heritage Insurance Holdings by 37.8% in the first quarter. Renaissance Technologies LLC now owns 97,600 shares of the company’s stock valued at $1,559,000 after buying an additional 26,795 shares during the last quarter. Institutional investors own 54.81% of the company’s stock.
Shares of Heritage Insurance Holdings Inc. (NYSE:HRTG) traded down 2.14% on Thursday, reaching $12.33. The company’s stock had a trading volume of 129,518 shares. Heritage Insurance Holdings Inc. has a 12 month low of $11.50 and a 12 month high of $24.98. The firm has a market cap of $366.20 million, a price-to-earnings ratio of 5.94 and a beta of 0.99. The stock has a 50 day moving average of $13.74 and a 200-day moving average of $13.31.
Heritage Insurance Holdings (NYSE:HRTG) last released its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. The business had revenue of $115.28 million for the quarter, compared to analysts’ expectations of $113.73 million. Heritage Insurance Holdings had a return on equity of 17.73% and a net margin of 15.06%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, analysts anticipate that Heritage Insurance Holdings Inc. will post $1.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.95%. Heritage Insurance Holdings’s dividend payout ratio is presently 11.59%.
HRTG has been the topic of a number of research reports. Zacks Investment Research lowered Heritage Insurance Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Sandler O’Neill upgraded Heritage Insurance Holdings from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, September 23rd. Citigroup Inc. reduced their price objective on Heritage Insurance Holdings from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods set a $17.00 price objective on Heritage Insurance Holdings and gave the stock a “buy” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $19.00.
In related news, Director James Masiello acquired 20,000 shares of Heritage Insurance Holdings stock in a transaction dated Monday, August 22nd. The shares were purchased at an average cost of $12.96 per share, with a total value of $259,200.00. Following the completion of the purchase, the director now owns 229,795 shares of the company’s stock, valued at $2,978,143.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Vijay Walvekar sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $13.90, for a total value of $69,500.00. The disclosure for this sale can be found here. 15.10% of the stock is owned by corporate insiders.
Heritage Insurance Holdings Company Profile
Heritage Insurance Holdings, Inc is a property and casualty insurance holding company. The Company provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company, it provides personal residential insurance for single-family homeowners and condominium owners, rental property insurance and commercial residential insurance in the state of Florida and North Carolina.