Arrowstreet Capital Limited Partnership Sells 38,320 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Arrowstreet Capital Limited Partnership reduced its position in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 27.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,137 shares of the insurance provider’s stock after selling 38,320 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.33% of Heritage Insurance worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in Heritage Insurance in the 4th quarter worth about $296,000. Ieq Capital LLC bought a new stake in shares of Heritage Insurance in the fourth quarter valued at approximately $303,000. BNP Paribas Financial Markets lifted its stake in shares of Heritage Insurance by 412.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,215 shares of the insurance provider’s stock valued at $235,000 after buying an additional 15,468 shares in the last quarter. Raymond James Financial Inc. bought a new position in Heritage Insurance in the 4th quarter worth approximately $1,123,000. Finally, Prudential Financial Inc. grew its stake in Heritage Insurance by 323.8% in the 4th quarter. Prudential Financial Inc. now owns 93,975 shares of the insurance provider’s stock valued at $1,137,000 after buying an additional 71,800 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Kirk Lusk bought 6,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the transaction, the chief financial officer now directly owns 618,756 shares in the company, valued at $8,569,770.60. This trade represents a 0.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ernie J. Garateix purchased 5,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the acquisition, the chief executive officer now directly owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. The trade was a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 21,000 shares of company stock worth $280,450 over the last ninety days. 14.00% of the stock is owned by corporate insiders.

Heritage Insurance Price Performance

HRTG stock opened at $16.23 on Friday. The firm has a 50 day moving average of $13.03 and a 200-day moving average of $12.10. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $695.38 million, a P/E ratio of 6.49 and a beta of 0.93. Heritage Insurance Holdings, Inc. has a 12 month low of $6.14 and a 12 month high of $16.90.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.83. The firm had revenue of $210.26 million during the quarter, compared to the consensus estimate of $199.87 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. As a group, sell-side analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.