Oberweis Asset Management Inc. cut its holdings in shares of Heritage Insurance Holdings Inc (NYSE:HRTG) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,313 shares of the insurance provider’s stock after selling 2,000 shares during the period. Oberweis Asset Management Inc. owned 0.13% of Heritage Insurance worth $520,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of HRTG. Credit Suisse AG grew its holdings in shares of Heritage Insurance by 65.3% during the third quarter. Credit Suisse AG now owns 1,040,166 shares of the insurance provider’s stock valued at $15,416,000 after buying an additional 410,919 shares during the last quarter. LSV Asset Management grew its holdings in shares of Heritage Insurance by 25.0% during the fourth quarter. LSV Asset Management now owns 1,191,736 shares of the insurance provider’s stock valued at $17,542,000 after buying an additional 238,704 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Heritage Insurance during the fourth quarter valued at $1,726,000. Royce & Associates LP grew its holdings in shares of Heritage Insurance by 10.3% during the third quarter. Royce & Associates LP now owns 893,358 shares of the insurance provider’s stock valued at $13,240,000 after buying an additional 83,500 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Heritage Insurance during the third quarter valued at $962,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Bruce Lucas acquired 1,806 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average cost of $13.92 per share, with a total value of $25,139.52. Following the completion of the acquisition, the chief executive officer now directly owns 946,859 shares of the company’s stock, valued at $13,180,277.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 25.30% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, March 14th. Heritage Insurance’s dividend payout ratio (DPR) is presently 17.39%.
Separately, Zacks Investment Research raised shares of Heritage Insurance from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, December 26th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Heritage Insurance has a consensus rating of “Buy” and a consensus target price of $17.17.
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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, as well as residential wind-only property insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina.
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