Panagora Asset Management Inc. purchased a new stake in Heritage Insurance Holdings Inc (NYSE:HRTG) during the second quarter, HoldingsChannel.com reports. The fund purchased 44,589 shares of the insurance provider’s stock, valued at approximately $687,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRTG. Prudential Financial Inc. increased its position in Heritage Insurance by 1.4% during the second quarter. Prudential Financial Inc. now owns 104,692 shares of the insurance provider’s stock worth $1,613,000 after purchasing an additional 1,400 shares during the last quarter. Stone Ridge Asset Management LLC increased its position in Heritage Insurance by 25.7% during the second quarter. Stone Ridge Asset Management LLC now owns 49,412 shares of the insurance provider’s stock worth $761,000 after purchasing an additional 10,105 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Heritage Insurance during the second quarter worth about $668,000. Swiss National Bank increased its position in Heritage Insurance by 11.5% during the second quarter. Swiss National Bank now owns 44,500 shares of the insurance provider’s stock worth $686,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Aperio Group LLC purchased a new position in Heritage Insurance during the second quarter worth about $179,000. Institutional investors own 66.88% of the company’s stock.

HRTG stock traded up $0.13 during mid-day trading on Thursday, hitting $14.70. 4,520 shares of the company were exchanged, compared to its average volume of 144,108. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $431.41 million, a P/E ratio of 10.66 and a beta of 0.75. The business has a fifty day simple moving average of $14.61 and a 200-day simple moving average of $14.72. Heritage Insurance Holdings Inc has a 12-month low of $12.85 and a 12-month high of $16.95.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, September 13th. Heritage Insurance’s dividend payout ratio (DPR) is presently 17.39%.

Several brokerages have weighed in on HRTG. Zacks Investment Research lowered shares of Heritage Insurance from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. TheStreet lowered shares of Heritage Insurance from a “b” rating to a “c+” rating in a research note on Friday, August 2nd. ValuEngine raised shares of Heritage Insurance from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Sandler O’Neill lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating and lowered their target price for the stock from $18.00 to $17.00 in a research note on Tuesday, July 16th. Finally, JMP Securities raised shares of Heritage Insurance from a “market perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.38.

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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Institutional Ownership by Quarter for Heritage Insurance (NYSE:HRTG)

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