Today, Virginia Retirement Systems ET AL Takes Position in Heritage Insurance Holdings Inc. (HRTG)

Today, Virginia Retirement Systems ET AL Takes Position in Heritage Insurance Holdings Inc. (HRTG)
Virginia Retirement Systems ET AL purchased a new position in shares of Heritage Insurance Holdings Inc. (NYSE:HRTG) during the third quarter, Holdings Channel reports. The firm purchased 23,600 shares of the company’s stock, valued at approximately $340,000. Virginia Retirement Systems ET AL owned approximately 0.08% of Heritage Insurance Holdings as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Prudential Financial Inc. purchased a new position in Heritage Insurance Holdings during the first quarter worth approximately $433,000. Goldman Sachs Group Inc. raised its position in Heritage Insurance Holdings by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 49,608 shares of the company’s stock worth $792,000 after buying an additional 3,597 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Heritage Insurance Holdings by 238.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 58,814 shares of the company’s stock worth $939,000 after buying an additional 41,414 shares in the last quarter. Panagora Asset Management Inc. raised its position in Heritage Insurance Holdings by 26.0% in the first quarter. Panagora Asset Management Inc. now owns 366,247 shares of the company’s stock worth $5,849,000 after buying an additional 75,643 shares in the last quarter. Finally, GW&K Investment Management LLC raised its position in Heritage Insurance Holdings by 12.9% in the second quarter. GW&K Investment Management LLC now owns 144,950 shares of the company’s stock worth $1,735,000 after buying an additional 16,607 shares in the last quarter. 52.45% of the stock is currently owned by institutional investors.

Heritage Insurance Holdings Inc. (NYSE:HRTG) traded up 0.98% during midday trading on Friday, reaching $15.46. 202,047 shares of the company’s stock were exchanged. Heritage Insurance Holdings Inc. has a 12 month low of $11.25 and a 12 month high of $23.38. The company has a 50 day moving average price of $12.90 and a 200 day moving average price of $13.06. The company has a market cap of $459.16 million, a P/E ratio of 8.16 and a beta of 1.13.

Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. Heritage Insurance Holdings had a return on equity of 15.58% and a net margin of 13.02%. The firm had revenue of $109.30 million for the quarter, compared to analyst estimates of $109.44 million. During the same period last year, the company earned $0.55 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. On average, equities analysts anticipate that Heritage Insurance Holdings Inc. will post $1.12 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, December 13th. Heritage Insurance Holdings’s dividend payout ratio (DPR) is currently 12.70%.

HRTG has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Heritage Insurance Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Keefe, Bruyette & Woods set a $17.00 target price on shares of Heritage Insurance Holdings and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Sandler O’Neill raised shares of Heritage Insurance Holdings from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, September 23rd. Citigroup Inc. dropped their target price on shares of Heritage Insurance Holdings from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Finally, TheStreet raised shares of Heritage Insurance Holdings from a “sell” rating to a “hold” rating in a research report on Friday, November 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $16.33.

In other Heritage Insurance Holdings news, Director Vijay Walvekar sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $13.90, for a total transaction of $69,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.10% of the company’s stock.

About Heritage Insurance Holdings

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.

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