Kingsview Wealth Management LLC Buys New Position in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Kingsview Wealth Management LLC purchased a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,784 shares of the insurance provider's stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Heritage Insurance by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider's stock worth $18,993,000 after purchasing an additional 193,590 shares during the period. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 9,452 shares during the period. Invesco Ltd. lifted its holdings 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 acquiring an additional 182,624 shares during the period. Pacific Ridge Capital Partners LLC lifted its holdings in Heritage Insurance by 33.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider's stock valued at $9,844,000 after acquiring an additional 205,195 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Heritage Insurance in the fourth quarter valued at approximately $7,799,000. Institutional investors and hedge funds own 59.03% of the company's stock.

Insider Transactions at Heritage Insurance

In other Heritage Insurance news, Director Panagiotis Apostolou sold 25,000 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $25.40, for a total value of $635,000.00. Following the completion of the sale, the director directly owned 164,719 shares in the company, valued at $4,183,862.60. This represents a 13.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 15.20% of the stock is currently owned by insiders.

Heritage Insurance Price Performance

Shares of HRTG traded down $0.89 during trading hours on Friday, hitting $20.60. 382,986 shares of the stock were exchanged, compared to its average volume of 401,518. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. Heritage Insurance Holdings, Inc. has a 12-month low of $6.81 and a 12-month high of $26.64. The company has a market cap of $638.33 million, a price-to-earnings ratio of 8.14 and a beta of 1.01. The stock's 50-day moving average price is $23.01 and its two-hundred day moving average price is $17.60.

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

Wall Street Analyst Weigh In

HRTG has been the subject of a number of analyst reports. Truist Financial boosted their price target on Heritage Insurance from $20.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wall Street Zen upgraded Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler boosted their price objective on Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th.

Heritage Insurance Company Profile

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.