Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short Interest Down 11.4% in November

Heritage Insurance Holdings, Inc. (NYSE:HRTG) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 856,800 shares, a decrease of 11.4% from the October 31st total of 966,900 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average trading volume of 520,800 shares, the short-interest ratio is presently 1.6 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HRTG shares. StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Truist Financial lifted their price target on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Piper Sandler upgraded Heritage Insurance from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $9.00 to $13.00 in a research report on Friday, August 9th.

Insider Activity at Heritage Insurance

In other Heritage Insurance news, Director Nicholas George Pappas sold 4,000 shares of Heritage Insurance stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.64, for a total value of $50,560.00. Following the completion of the transaction, the director now directly owns 76,314 shares of the company’s stock, valued at $964,608.96. The trade was a 4.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HRTG. State Street Corp increased its holdings in Heritage Insurance by 27.4% in the third quarter. State Street Corp now owns 371,057 shares of the insurance provider’s stock valued at $4,542,000 after purchasing an additional 79,802 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Heritage Insurance in the third quarter valued at about $467,000. Centiva Capital LP bought a new position in shares of Heritage Insurance during the third quarter worth about $502,000. Verition Fund Management LLC lifted its stake in shares of Heritage Insurance by 15.1% in the third quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider’s stock worth $400,000 after acquiring an additional 4,300 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Heritage Insurance by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 7,545 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Price Performance

Heritage Insurance stock traded up $0.07 during mid-day trading on Friday, reaching $12.43. The company had a trading volume of 118,679 shares, compared to its average volume of 292,972. The business has a fifty day simple moving average of $11.73 and a 200 day simple moving average of $10.67. The company has a market cap of $381.35 million, a P/E ratio of 4.97 and a beta of 0.98. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance has a fifty-two week low of $5.51 and a fifty-two week high of $16.90.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. The business had revenue of $211.85 million for the quarter, compared to analyst estimates of $209.91 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. During the same quarter in the previous year, the company posted ($0.28) EPS. On average, equities research analysts predict that Heritage Insurance will post 1.27 earnings per share for the current 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.