JPMorgan Chase & Co. Sells 158,632 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

JPMorgan Chase & Co. decreased its position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 93.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,473 shares of the insurance provider's stock after selling 158,632 shares during the quarter. JPMorgan Chase & Co.'s holdings in Heritage Insurance were worth $127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Heritage Insurance by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,328,135 shares of the insurance provider's stock valued at $16,070,000 after buying an additional 9,452 shares during the period. American Century Companies Inc. lifted its stake in shares of Heritage Insurance by 14.8% in the 4th quarter. American Century Companies Inc. now owns 589,899 shares of the insurance provider's stock valued at $7,138,000 after purchasing an additional 76,032 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Heritage Insurance by 15.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 447,868 shares of the insurance provider's stock valued at $5,419,000 after purchasing an additional 59,281 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in Heritage Insurance by 176.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 348,556 shares of the insurance provider's stock worth $4,218,000 after purchasing an additional 222,689 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Heritage Insurance by 27.2% in the fourth quarter. Bank of New York Mellon Corp now owns 117,236 shares of the insurance provider's stock worth $1,419,000 after purchasing an additional 25,070 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.

Heritage Insurance Stock Performance

Shares of Heritage Insurance stock opened at $20.02 on Tuesday. The business has a 50-day simple moving average of $15.26 and a 200 day simple moving average of $12.93. Heritage Insurance Holdings, Inc. has a one year low of $6.14 and a one year high of $20.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $620.48 million, a price-to-earnings ratio of 8.01 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.83. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The firm had revenue of $210.26 million during the quarter, compared to the consensus estimate of $199.87 million. On average, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul L. Whiting bought 10,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were bought at an average price of $13.35 per share, for a total transaction of $133,500.00. Following the completion of the acquisition, the director now directly owns 79,576 shares of the company's stock, valued at $1,062,339.60. This trade represents a 14.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ernie J. Garateix bought 5,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of $12.77 per share, for a total transaction of $63,850.00. Following the transaction, the chief executive officer now owns 1,270,808 shares of the company's stock, valued at $16,228,218.16. The trade was a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 21,000 shares of company stock worth $280,450. Insiders own 14.00% of the company's stock.

Analyst Upgrades and Downgrades

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

Heritage Insurance Profile

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.

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