Kingsview Wealth Management LLC Makes New $228,000 Investment in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Kingsview Wealth Management LLC acquired a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,784 shares of the insurance provider's stock, valued at approximately $228,000.

Several other hedge funds have also made changes to their positions in HRTG. Jacobs Levy Equity Management Inc. acquired a new position in Heritage Insurance in the fourth quarter valued at $7,799,000. Segall Bryant & Hamill LLC boosted its holdings in Heritage Insurance by 176.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 348,556 shares of the insurance provider's stock valued at $4,218,000 after acquiring an additional 222,689 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in Heritage Insurance by 14.1% in the fourth 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 during the last quarter. Finally, Invesco Ltd. boosted 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 last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.

Heritage Insurance Stock Down 4.2%

Shares of HRTG traded down $0.89 during midday trading on Friday, reaching $20.60. 382,986 shares of the company were exchanged, compared to its average volume of 350,377. Heritage Insurance Holdings, Inc. has a 1-year low of $6.81 and a 1-year high of $26.64. The company has a market cap of $638.39 million, a price-to-earnings ratio of 8.14 and a beta of 1.01. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $23.08 and a 200-day moving average price of $17.50.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $0.99 EPS for the quarter, beating 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 company had revenue of $211.52 million during the quarter, compared to analyst estimates 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

A number of research analysts have commented on HRTG shares. Piper Sandler boosted their price objective on Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Truist Financial boosted their price objective on Heritage Insurance from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th.

Insider Activity at Heritage Insurance

In other news, Director Panagiotis Apostolou sold 25,000 shares of the 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 owned 164,719 shares in the company, valued at $4,183,862.60. This represents a 13.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.20% 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 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.