Citigroup Inc. decreased its holdings in shares of Heritage Insurance Holdings Inc (NYSE:HRTG) by 52.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,252 shares of the insurance provider’s stock after selling 6,970 shares during the quarter. Citigroup Inc.’s holdings in Heritage Insurance were worth $92,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Heritage Insurance by 1.6% during the fourth quarter. BlackRock Inc. now owns 1,569,009 shares of the insurance provider’s stock worth $23,096,000 after purchasing an additional 25,036 shares during the period. LSV Asset Management increased its holdings in Heritage Insurance by 25.0% in the fourth quarter. LSV Asset Management now owns 1,191,736 shares of the insurance provider’s stock valued at $17,542,000 after purchasing an additional 238,704 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Heritage Insurance by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 934,894 shares of the insurance provider’s stock valued at $13,855,000 after purchasing an additional 9,982 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Heritage Insurance by 3.9% in the third quarter. Federated Investors Inc. PA now owns 510,887 shares of the insurance provider’s stock valued at $7,571,000 after buying an additional 18,985 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. lifted its stake in Heritage Insurance by 4.6% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 419,912 shares of the insurance provider’s stock valued at $6,181,000 after buying an additional 18,313 shares during the period. 65.05% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE HRTG opened at $14.71 on Friday. The company has a market cap of $441.49 million, a P/E ratio of 10.82 and a beta of 1.01. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35. Heritage Insurance Holdings Inc has a 52-week low of $12.85 and a 52-week high of $17.99.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were issued a $0.06 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.24 annualized dividend and a yield of 1.63%. Heritage Insurance’s dividend payout ratio (DPR) is presently 17.39%.
In other news, CEO Bruce Lucas purchased 1,806 shares of Heritage Insurance stock in a transaction dated Friday, March 8th. The shares were bought at an average cost of $13.92 per share, with a total value of $25,139.52. Following the completion of the transaction, the chief executive officer now directly owns 946,859 shares in the company, valued at approximately $13,180,277.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 25.30% of the company’s stock.
Separately, Zacks Investment Research upgraded Heritage Insurance from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $17.17.
About Heritage Insurance
Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; rental property insurance; and commercial residential insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina, as well as residential wind-only property insurance.
Further Reading: Quiet Period
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