Bruce Lucas Acquires 3,880 Shares of Heritage Insurance Holdings Inc (HRTG) Stock

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Heritage Insurance Holdings Inc (NYSE:HRTG) CEO Bruce Lucas purchased 3,880 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average cost of $16.46 per share, for a total transaction of $63,864.80. Following the transaction, the chief executive officer now owns 945,053 shares of the company’s stock, valued at $15,555,572.38. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Bruce Lucas also recently made the following trade(s):

  • On Friday, November 9th, Bruce Lucas purchased 5,000 shares of Heritage Insurance stock. The shares were acquired at an average cost of $16.23 per share, for a total transaction of $81,150.00.
  • On Wednesday, November 7th, Bruce Lucas purchased 9,300 shares of Heritage Insurance stock. The shares were acquired at an average cost of $16.07 per share, for a total transaction of $149,451.00.
  • On Monday, November 5th, Bruce Lucas purchased 5,000 shares of Heritage Insurance stock. The shares were acquired at an average cost of $16.05 per share, for a total transaction of $80,250.00.
  • On Thursday, August 23rd, Bruce Lucas purchased 5,000 shares of Heritage Insurance stock. The shares were acquired at an average cost of $14.91 per share, for a total transaction of $74,550.00.

Heritage Insurance stock traded down $0.13 during midday trading on Tuesday, reaching $16.15. The stock had a trading volume of 335,000 shares, compared to its average volume of 194,766. Heritage Insurance Holdings Inc has a 1-year low of $12.85 and a 1-year high of $19.15. The firm has a market cap of $432.26 million, a PE ratio of 10.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 0.78.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, October 31st. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.36. Heritage Insurance had a return on equity of 13.85% and a net margin of 3.92%. The business had revenue of $125.30 million for the quarter, compared to analyst estimates of $123.59 million. As a group, equities research analysts predict that Heritage Insurance Holdings Inc will post 1.18 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Saturday, December 15th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, December 13th. Heritage Insurance’s dividend payout ratio is presently 15.69%.

HRTG has been the topic of a number of research analyst reports. ValuEngine lowered Heritage Insurance from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Zacks Investment Research lowered Heritage Insurance from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 9th. Sandler O’Neill reissued a “buy” rating and issued a $19.00 target price on shares of Heritage Insurance in a research report on Friday, August 3rd. Finally, Citigroup dropped their target price on Heritage Insurance from $17.00 to $16.50 and set a “buy” rating on the stock in a research report on Friday, October 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Heritage Insurance presently has a consensus rating of “Buy” and a consensus target price of $19.92.

A number of institutional investors have recently made changes to their positions in the stock. Credit Suisse AG raised its position in Heritage Insurance by 65.3% in the 3rd quarter. Credit Suisse AG now owns 1,040,166 shares of the insurance provider’s stock valued at $15,416,000 after buying an additional 410,919 shares during the last quarter. LSV Asset Management grew its stake in Heritage Insurance by 6.9% in the third quarter. LSV Asset Management now owns 953,032 shares of the insurance provider’s stock valued at $14,123,000 after purchasing an additional 61,502 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Heritage Insurance by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 934,894 shares of the insurance provider’s stock valued at $13,855,000 after purchasing an additional 9,982 shares in the last quarter. Royce & Associates LP grew its stake in Heritage Insurance by 10.3% in the third quarter. Royce & Associates LP now owns 893,358 shares of the insurance provider’s stock valued at $13,240,000 after purchasing an additional 83,500 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management grew its stake in Heritage Insurance by 13.7% in the third quarter. Mesirow Financial Investment Management Equity Management now owns 751,268 shares of the insurance provider’s stock valued at $11,133,000 after purchasing an additional 90,745 shares in the last quarter. 76.89% of the stock is currently owned by institutional investors and hedge funds.

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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, as well as residential wind-only property insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina.

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