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

Mackenzie Financial Corp purchased a new position in shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,200 shares of the insurance provider's stock, valued at approximately $305,000. Mackenzie Financial Corp owned approximately 0.08% of Heritage Insurance as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Heritage Insurance during the fourth quarter worth about $797,000. Man Group plc acquired a new stake in Heritage Insurance during the fourth quarter worth approximately $662,000. Jacobs Levy Equity Management Inc. purchased a new stake in Heritage Insurance in the 4th quarter worth approximately $7,799,000. Graham Capital Management L.P. raised its holdings in Heritage Insurance by 213.7% in the 4th quarter. Graham Capital Management L.P. now owns 44,674 shares of the insurance provider's stock valued at $541,000 after acquiring an additional 30,434 shares during the last quarter. Finally, FJ Capital Management LLC acquired a new position in Heritage Insurance in the 4th quarter valued at $212,000. 59.03% of the stock is owned by institutional investors and hedge funds.

Heritage Insurance Trading Up 3.0%

HRTG stock traded up $0.73 on Friday, hitting $25.03. 379,679 shares of the company were exchanged, compared to its average volume of 402,237. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $775.75 million, a price-to-earnings ratio of 10.01 and a beta of 1.03. Heritage Insurance Holdings, Inc. has a twelve month low of $6.14 and a twelve month high of $26.64. The business's fifty day moving average is $20.68 and its two-hundred day moving average is $15.10.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.53. The company had revenue of $211.52 million during the quarter, compared to analysts' expectations of $213.68 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. As a group, research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling at Heritage Insurance

In related news, Director Panagiotis Apostolou sold 25,000 shares of Heritage Insurance stock in a transaction on Friday, May 9th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the transaction, the director now owns 164,719 shares in the company, valued at approximately $4,183,862.60. The trade was a 13.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul L. Whiting purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $13.35 per share, with a total value of $133,500.00. Following the completion of the transaction, the director now owns 79,576 shares in the company, valued at $1,062,339.60. This trade represents a 14.37% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 21,000 shares of company stock valued at $280,450. Company insiders own 15.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HRTG shares. Piper Sandler raised their price objective on Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Truist Financial raised 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. Finally, Wall Street Zen upgraded Heritage Insurance from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

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.