Mackenzie Financial Corp Has $1.48 Million Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Mackenzie Financial Corp lifted its stake in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) by 307.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 102,652 shares of the insurance provider’s stock after buying an additional 77,452 shares during the period. Mackenzie Financial Corp’s holdings in Heritage Insurance were worth $1,480,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HRTG. Dimensional Fund Advisors LP lifted its stake in Heritage Insurance by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider’s stock valued at $18,993,000 after acquiring an additional 193,590 shares in the last quarter. Vanguard Group Inc. raised its stake in Heritage Insurance by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,328,135 shares of the insurance provider’s stock valued at $16,070,000 after purchasing an additional 9,452 shares in the last quarter. Invesco Ltd. raised its stake in Heritage Insurance by 24.0% in the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider’s stock valued at $11,430,000 after purchasing an additional 182,624 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Heritage Insurance in the fourth quarter valued at approximately $7,799,000. Finally, AQR Capital Management LLC raised its holdings in shares of Heritage Insurance by 49.6% during the fourth quarter. AQR Capital Management LLC now owns 468,860 shares of the insurance provider’s stock valued at $5,673,000 after acquiring an additional 155,358 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Stock Up 0.7%

Shares of HRTG stock opened at $21.15 on Tuesday. The stock’s 50-day simple moving average is $22.65 and its 200-day simple moving average is $18.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $655.35 million, a PE ratio of 8.36 and a beta of 1.05. Heritage Insurance Holdings, Inc. has a fifty-two week low of $6.81 and a fifty-two week high of $26.64.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.53. The company had revenue of $211.52 million for the quarter, compared to the consensus estimate of $213.68 million. Heritage Insurance had a return on equity of 26.95% and a net margin of 9.29%. Equities analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In other Heritage Insurance news, Director Panagiotis Apostolou sold 25,000 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the sale, the director owned 164,719 shares of the company’s stock, valued at $4,183,862.60. This trade represents a 13.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial upped their price target on Heritage Insurance from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Heritage Insurance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Piper Sandler boosted their target price on Heritage Insurance from $19.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.