First Trust Advisors LP Acquires New Stake in Heritage Insurance Holdings Inc (HRTG)

First Trust Advisors LP acquired a new position in Heritage Insurance Holdings Inc (NYSE:HRTG) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,199 shares of the insurance provider’s stock, valued at approximately $267,000. First Trust Advisors LP owned about 0.07% of Heritage Insurance at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HRTG. Geode Capital Management LLC increased its position in shares of Heritage Insurance by 3.8% in the first quarter. Geode Capital Management LLC now owns 372,147 shares of the insurance provider’s stock worth $4,752,000 after purchasing an additional 13,767 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Heritage Insurance by 37.0% in the first quarter. Dimensional Fund Advisors LP now owns 783,112 shares of the insurance provider’s stock worth $10,000,000 after purchasing an additional 211,312 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Heritage Insurance by 32.4% in the first quarter. Goldman Sachs Group Inc. now owns 42,381 shares of the insurance provider’s stock worth $541,000 after purchasing an additional 10,374 shares during the last quarter. Sei Investments Co. increased its position in shares of Heritage Insurance by 10.8% in the second quarter. Sei Investments Co. now owns 52,531 shares of the insurance provider’s stock worth $684,000 after purchasing an additional 5,111 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC grew its position in Heritage Insurance by 25.0% during the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the insurance provider’s stock valued at $260,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

Shares of Heritage Insurance Holdings Inc (NYSE:HRTG) traded down $0.07 during midday trading on Tuesday, reaching $17.40. 113,400 shares of the company’s stock were exchanged, compared to its average volume of 315,907. Heritage Insurance Holdings Inc has a twelve month low of $8.85 and a twelve month high of $18.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $424.75, a PE ratio of 1,747.00 and a beta of 1.49.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Wednesday, November 1st. The insurance provider reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.23). Heritage Insurance had a net margin of 0.27% and a return on equity of 0.31%. The business had revenue of $101.77 million for the quarter, compared to the consensus estimate of $99.01 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s revenue was down 6.9% on a year-over-year basis. sell-side analysts forecast that Heritage Insurance Holdings Inc will post 0.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Thursday, November 16th. Heritage Insurance’s dividend payout ratio is 2,402.40%.

HRTG has been the topic of a number of recent research reports. TheStreet upgraded shares of Heritage Insurance from a “c+” rating to a “b” rating in a research report on Monday, October 16th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $17.00 price target on shares of Heritage Insurance in a research report on Thursday, September 21st. BidaskClub cut shares of Heritage Insurance from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Citigroup increased their price target on shares of Heritage Insurance from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, SunTrust Banks reiterated a “buy” rating and set a $18.00 price target on shares of Heritage Insurance in a research report on Tuesday, September 26th. Five investment analysts have rated the stock with a buy rating, Heritage Insurance presently has an average rating of “Buy” and an average price target of $18.50.

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About Heritage Insurance

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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Institutional Ownership by Quarter for Heritage Insurance (NYSE:HRTG)

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