Heritage Insurance (NYSE:HRTG) Stock Price Down 5.2% - Here's What Happened

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) traded down 5.2% on Friday . The stock traded as low as $18.25 and last traded at $18.06. 39,937 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 384,606 shares. The stock had previously closed at $19.05.

Wall Street Analyst Weigh In

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

Heritage Insurance Price Performance

The business's fifty day moving average is $14.62 and its 200 day moving average is $12.67. The company has a market cap of $809.68 million, a P/E ratio of 7.56 and a beta of 0.93. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.83. The business had revenue of $210.26 million for the quarter, compared to analysts' expectations of $199.87 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. As a group, sell-side analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling

In other news, CFO Kirk Lusk bought 6,000 shares of the business's stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $13.85 per share, with a total value of $83,100.00. Following the completion of the purchase, the chief financial officer now directly owns 618,756 shares in the company, valued at $8,569,770.60. This represents a 0.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ernie J. Garateix purchased 5,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were acquired at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the completion of the purchase, the chief executive officer now directly owns 1,270,808 shares of the company's stock, valued at approximately $16,228,218.16. This represents a 0.40 % increase in their position. 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.

Institutional Trading of Heritage Insurance

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Heritage Insurance in the 4th quarter valued at about $134,000. Exchange Traded Concepts LLC purchased a new stake in shares of Heritage Insurance during the fourth quarter valued at approximately $296,000. Empowered Funds LLC grew its holdings in shares of Heritage Insurance by 5.1% in the fourth quarter. Empowered Funds LLC now owns 115,131 shares of the insurance provider's stock worth $1,393,000 after purchasing an additional 5,579 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Heritage Insurance by 222.2% in the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock worth $35,000 after buying an additional 2,000 shares during the period. Finally, Ieq Capital LLC bought a new stake in Heritage Insurance during the 4th quarter valued at $303,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

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.