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

Key Points

• Mackenzie Financial Corp increased its holdings in Heritage Insurance Holdings, Inc. by 307.3%, now owning 102,652 shares valued at approximately $1.48 million.
• Several institutional investors also raised their stakes, with Dimensional Fund Advisors owning 1,569,667 shares and AQR Capital Management increasing its ownership by 49.6%.
• Heritage Insurance saw its stock price target increased by Truist Financial to $30 and Piper Sandler to $28, reflecting an optimistic outlook from analysts.

Mackenzie Financial Corp grew its holdings in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) by 307.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,652 shares of the insurance provider's stock after purchasing an additional 77,452 shares during the period. Mackenzie Financial Corp owned approximately 0.33% of Heritage Insurance worth $1,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new stake in shares of Heritage Insurance during the first quarter worth $228,000. Bailard Inc. boosted its holdings in shares of Heritage Insurance by 48.6% during the first quarter. Bailard Inc. now owns 24,779 shares of the insurance provider's stock worth $357,000 after purchasing an additional 8,100 shares during the last quarter. CWM LLC boosted its holdings in shares of Heritage Insurance by 83.7% during the first quarter. CWM LLC now owns 9,951 shares of the insurance provider's stock worth $143,000 after purchasing an additional 4,535 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Heritage Insurance by 8,472.2% during the first quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider's stock worth $450,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Heritage Insurance during the fourth quarter worth $797,000. Institutional investors and hedge funds own 59.03% of the company's stock.

Heritage Insurance Stock Up 2.0%

Shares of NYSE HRTG traded up $0.42 during midday trading on Tuesday, reaching $21.63. 621,366 shares of the company's stock were exchanged, compared to its average volume of 338,200. Heritage Insurance Holdings, Inc. has a 52-week low of $7.09 and a 52-week high of $26.64. The stock has a market capitalization of $670.41 million, a PE ratio of 8.55 and a beta of 1.05. 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 business's fifty day moving average price is $22.65 and its two-hundred day moving average price is $18.05.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.52. Heritage Insurance had a return on equity of 26.95% and a net margin of 9.29%. Analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insiders Place Their Bets

In other Heritage Insurance news, Director Panagiotis Apostolou sold 25,000 shares of the company's stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HRTG. Truist Financial lifted their target price on Heritage Insurance from $20.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, May 8th. 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. Finally, Wall Street Zen upgraded Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th.

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.