Mackenzie Financial Corp Invests $305,000 in Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Mackenzie Financial Corp acquired a new stake in Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,200 shares of the insurance provider's stock, valued at approximately $305,000. Mackenzie Financial Corp owned approximately 0.08% of Heritage Insurance at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Heritage Insurance by 14.1% in 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 buying an additional 193,590 shares in the last quarter. Vanguard Group Inc. raised its holdings in Heritage Insurance by 0.7% in the 4th 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 last quarter. Invesco Ltd. lifted its stake in Heritage Insurance by 24.0% in the 4th quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock worth $11,430,000 after purchasing an additional 182,624 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Heritage Insurance by 33.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider's stock worth $9,844,000 after purchasing an additional 205,195 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Heritage Insurance in the fourth quarter valued at approximately $7,799,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. 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. 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 upped their price objective on shares of Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, May 8th.

Insider Transactions at Heritage Insurance

In other Heritage Insurance news, CFO Kirk Lusk purchased 6,000 shares of Heritage Insurance stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $13.85 per share, with a total value of $83,100.00. Following the completion of the transaction, the chief financial officer now owns 618,756 shares of the company's stock, valued at $8,569,770.60. This trade represents a 0.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ernie J. Garateix purchased 5,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $12.77 per share, with a total value of $63,850.00. Following the transaction, the chief executive officer now directly owns 1,270,808 shares in the company, valued at $16,228,218.16. This trade represents a 0.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 21,000 shares of company stock worth $280,450. 15.20% of the stock is currently owned by insiders.

Heritage Insurance Trading Up 3.0%

Shares of HRTG stock traded up $0.73 during trading on Friday, hitting $25.03. 379,679 shares of the stock traded hands, compared to its average volume of 400,822. Heritage Insurance Holdings, Inc. has a 52-week low of $6.14 and a 52-week high of $26.64. The firm has a market capitalization of $775.75 million, a P/E ratio of 10.01 and a beta of 0.95. The firm's fifty day moving average price is $20.48 and its 200-day moving average price is $14.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

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 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 29.17% and a net margin of 9.10%. As a group, research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

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.