Russell Investments Group Ltd. Sells 15,958 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Russell Investments Group Ltd. reduced its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 43.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,430 shares of the insurance provider’s stock after selling 15,958 shares during the quarter. Russell Investments Group Ltd.’s holdings in Heritage Insurance were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in shares of Heritage Insurance by 222.2% in the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 2,000 shares during the period. SG Americas Securities LLC purchased a new position in Heritage Insurance during the fourth quarter worth $134,000. Brandywine Global Investment Management LLC increased its position in Heritage Insurance by 21.7% during the fourth quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider’s stock valued at $150,000 after acquiring an additional 2,210 shares during the last quarter. US Bancorp DE increased its position in Heritage Insurance by 91,671.4% during the fourth quarter. US Bancorp DE now owns 12,848 shares of the insurance provider’s stock valued at $155,000 after acquiring an additional 12,834 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Heritage Insurance by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider’s stock valued at $162,000 after acquiring an additional 2,058 shares during the period. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 18th.

Insiders Place Their Bets

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

Heritage Insurance Stock Down 0.2 %

Shares of HRTG opened at $19.04 on Friday. The firm has a market capitalization of $815.67 million, a P/E ratio of 7.62 and a beta of 0.93. Heritage Insurance Holdings, Inc. has a 12-month low of $6.14 and a 12-month high of $19.93. The firm has a fifty day moving average price of $14.21 and a 200-day moving average price of $12.47. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.83. The business had revenue of $210.26 million for the quarter, compared to analyst estimates of $199.87 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. Equities research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

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.