Martingale Asset Management L P Acquires Shares of 39,145 Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Martingale Asset Management L P acquired a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,145 shares of the insurance provider's stock, valued at approximately $474,000. Martingale Asset Management L P owned approximately 0.13% of Heritage Insurance at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Invesco Ltd. grew its holdings in Heritage Insurance by 24.0% in the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock worth $11,430,000 after purchasing an additional 182,624 shares during the last quarter. Wells Fargo & Company MN lifted its position in Heritage Insurance by 18.1% during the fourth quarter. Wells Fargo & Company MN now owns 13,419 shares of the insurance provider's stock valued at $162,000 after purchasing an additional 2,058 shares during the period. Trexquant Investment LP boosted its stake in shares of Heritage Insurance by 3.0% in the fourth quarter. Trexquant Investment LP now owns 146,569 shares of the insurance provider's stock worth $1,773,000 after buying an additional 4,224 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Heritage Insurance by 207.7% during the 4th quarter. Franklin Resources Inc. now owns 41,121 shares of the insurance provider's stock worth $498,000 after purchasing an additional 27,759 shares during the period. Finally, D L Carlson Investment Group Inc. purchased a new position in Heritage Insurance in the fourth quarter valued at $634,000. Institutional investors own 59.03% of the company's stock.

Heritage Insurance Trading Up 5.6 %

HRTG traded up $1.00 during mid-day trading on Friday, hitting $18.80. 559,782 shares of the stock were exchanged, compared to its average volume of 381,703. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a market cap of $805.48 million, a PE ratio of 7.52 and a beta of 0.93. The firm's fifty day moving average is $13.68 and its two-hundred day moving average is $12.26. Heritage Insurance Holdings, Inc. has a 1-year low of $6.14 and a 1-year high of $18.91.

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

Insider Transactions at Heritage Insurance

In other news, CEO Ernie J. Garateix acquired 5,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $12.77 per share, with a total value of $63,850.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirk Lusk bought 6,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the acquisition, the chief financial officer now directly owns 618,756 shares in the company, valued at approximately $8,569,770.60. This trade represents a 0.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 21,000 shares of company stock worth $280,450. 14.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.