California State Teachers Retirement System reduced its position in Heritage Insurance Holdings Inc (NYSE:HRTG) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,114 shares of the insurance provider’s stock after selling 7,620 shares during the period. California State Teachers Retirement System owned approximately 0.13% of Heritage Insurance worth $615,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of HRTG. Ellington Management Group LLC purchased a new stake in Heritage Insurance in the 4th quarter valued at $218,000. Goldman Sachs Group Inc. raised its position in Heritage Insurance by 340.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 80,119 shares of the insurance provider’s stock valued at $1,444,000 after buying an additional 61,933 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in Heritage Insurance in the 4th quarter valued at $732,000. Deutsche Bank AG raised its position in Heritage Insurance by 13.4% in the 4th quarter. Deutsche Bank AG now owns 61,788 shares of the insurance provider’s stock valued at $1,111,000 after buying an additional 7,316 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its position in Heritage Insurance by 91.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 289,738 shares of the insurance provider’s stock valued at $5,222,000 after buying an additional 138,588 shares during the last quarter. Institutional investors own 82.85% of the company’s stock.
Shares of Heritage Insurance stock opened at $16.04 on Monday. Heritage Insurance Holdings Inc has a 1 year low of $8.85 and a 1 year high of $19.15. The firm has a market cap of $426.02, a PE ratio of 10.48 and a beta of 1.32. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.49.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Wednesday, March 14th. Heritage Insurance’s dividend payout ratio is presently 15.69%.
HRTG has been the subject of a number of analyst reports. SunTrust Banks increased their price target on Heritage Insurance to $26.00 and gave the company a “buy” rating in a research report on Friday, March 9th. JMP Securities lowered Heritage Insurance from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a research report on Monday, January 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 price target on shares of Heritage Insurance in a research report on Friday, December 22nd. Zacks Investment Research raised Heritage Insurance from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research report on Thursday, March 8th. Finally, ValuEngine raised Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $20.60.
In other Heritage Insurance news, CEO Bruce Lucas bought 6,200 shares of the firm’s stock in a transaction dated Friday, March 23rd. The stock was purchased at an average cost of $16.06 per share, with a total value of $99,572.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 16.10% of the company’s stock.
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Heritage Insurance Company Profile
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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