Metropolitan Life Insurance Co. NY boosted its holdings in shares of Heritage Insurance Holdings Inc (NYSE:HRTG) by 419.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,567 shares of the insurance provider’s stock after buying an additional 6,918 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Heritage Insurance were worth $126,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HRTG. Quantamental Technologies LLC acquired a new position in Heritage Insurance during the fourth quarter worth $29,000. Nisa Investment Advisors LLC acquired a new position in Heritage Insurance during the fourth quarter worth $29,000. Dynamic Technology Lab Private Ltd acquired a new position in Heritage Insurance during the third quarter worth $168,000. Marshall Wace LLP bought a new stake in shares of Heritage Insurance in the 3rd quarter worth $179,000. Finally, United Services Automobile Association grew its stake in shares of Heritage Insurance by 20.6% in the 4th quarter. United Services Automobile Association now owns 15,448 shares of the insurance provider’s stock worth $227,000 after acquiring an additional 2,634 shares in the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, December 26th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.17.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th were paid a $0.06 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.68%. Heritage Insurance’s payout ratio is 17.39%.
In related news, CEO Bruce Lucas purchased 1,806 shares of Heritage Insurance stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of $13.92 per share, for a total transaction of $25,139.52. Following the completion of the transaction, the chief executive officer now owns 946,859 shares in the company, valued at $13,180,277.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.00% of the company’s stock.
Heritage Insurance Profile
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.
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