Who is Heritage Insurance Holdings, Inc.?
Heritage Insurance Holdings, Inc. (NYSE:HRTG) operates as a property and casualty insurance holding company in Florida. It provides personal residential insurance for single-family homeowners and condominium owners. The company markets its policies through a network of independent agents. (Source: Yahoo)
Heritage Insurance Holdings held an IPO on 5/23/2014 and sold 6,000,000 shares at $11.00/share, which was considerably lower than the $15 midpoint the company was looking to sell shares at. The main underwriter handling the IPO was Citigroup. The proceeds from the offering were ~$66 million before deducting underwriting discounts, commissions, and offering expenses payable. The shares currently trade at $12.55 for a total performance of 14% since IPO.
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