Dimensional Fund Advisors LP Has $10 Million Stake in Heritage Insurance Holdings, Inc. (HRTG)
Dimensional Fund Advisors LP boosted its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 37.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 783,112 shares of the insurance provider’s stock after buying an additional 211,312 shares during the period. Dimensional Fund Advisors LP owned 2.64% of Heritage Insurance Holdings worth $10,000,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in HRTG. Teachers Advisors LLC boosted its stake in Heritage Insurance Holdings by 2.9% in the fourth quarter. Teachers Advisors LLC now owns 59,682 shares of the insurance provider’s stock valued at $935,000 after buying an additional 1,677 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Heritage Insurance Holdings by 166.9% in the fourth quarter. Macquarie Group Ltd. now owns 32,300 shares of the insurance provider’s stock valued at $506,000 after buying an additional 20,200 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Heritage Insurance Holdings by 0.9% in the first quarter. Nationwide Fund Advisors now owns 111,424 shares of the insurance provider’s stock valued at $1,423,000 after buying an additional 1,046 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Heritage Insurance Holdings by 50.3% in the first quarter. Russell Investments Group Ltd. now owns 178,893 shares of the insurance provider’s stock valued at $2,284,000 after buying an additional 59,856 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Heritage Insurance Holdings by 26.9% in the first quarter. LSV Asset Management now owns 851,560 shares of the insurance provider’s stock valued at $10,874,000 after buying an additional 180,538 shares in the last quarter. 57.60% of the stock is currently owned by institutional investors.
Heritage Insurance Holdings, Inc. (NYSE:HRTG) traded down 3.46% during midday trading on Monday, hitting $11.44. 133,084 shares of the company traded hands. Heritage Insurance Holdings, Inc. has a 12-month low of $11.19 and a 12-month high of $16.48. The stock has a 50 day moving average price of $12.29 and a 200-day moving average price of $12.91. The company has a market cap of $339.77 million, a PE ratio of 16.14 and a beta of 1.29.
Heritage Insurance Holdings (NYSE:HRTG) last released its earnings results on Tuesday, August 8th. The insurance provider reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Heritage Insurance Holdings had a return on equity of 5.67% and a net margin of 5.07%. The company had revenue of $96.90 million for the quarter, compared to analysts’ expectations of $100.17 million. During the same quarter in the previous year, the business posted $0.62 EPS. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. Analysts expect that Heritage Insurance Holdings, Inc. will post $1.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.24 annualized dividend and a yield of 2.03%. Heritage Insurance Holdings’s dividend payout ratio (DPR) is presently 33.33%.
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HRTG has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $17.00 price target on shares of Heritage Insurance Holdings in a research note on Friday, June 2nd. TheStreet raised shares of Heritage Insurance Holdings from a “c” rating to a “b-” rating in a research note on Monday, June 26th. Zacks Investment Research raised shares of Heritage Insurance Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, BidaskClub raised shares of Heritage Insurance Holdings from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.33.
In other Heritage Insurance Holdings news, Director James Masiello bought 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $11.71 per share, with a total value of $117,100.00. Following the purchase, the director now directly owns 239,795 shares in the company, valued at approximately $2,807,999.45. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bruce Lucas bought 22,000 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $11.58 per share, for a total transaction of $254,760.00. Following the purchase, the chief executive officer now owns 869,595 shares in the company, valued at $10,069,910.10. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 69,800 shares of company stock worth $808,534. Company insiders own 16.10% of the company’s stock.
About Heritage Insurance Holdings
Heritage Insurance Holdings, Inc (Heritage Insurance) is a property and casualty insurance holding company. The Company provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company (Heritage P&C), 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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