Heritage Insurance Holdings, Inc.
- Open
- 27.39
- Day high
- 28.11
- Day low
- 27.04
- Prev close
- 27.12
- Volume
- 206K
- Mkt cap
- $849M
- P/E (TTM)
- 4.3
- EPS (TTM)
- $6.53
- P/B
- 1.6
- P/S
- 1.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$588K over the last 3 months (2 open-market buys, 5 sales)
- 🏛Institutions accumulating (13F)
Heritage Insurance Holdings, Inc. (HRTG) is a Financial Services company listed on NYSE. The stock is up 27% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 5 sales (SEC Form 4).
Heritage Insurance Holdings, Inc. (HRTG) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HRTG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $1.53 | $1.19 | -22.2% | $213M | -1.3% |
| Mar 9, 2026 | $1.74 | $2.15 | +23.6% | $215M | -0.0% |
| Nov 5, 2025 | $0.53 | $1.63 | +207.5% | $212M | -0.1% |
| Mar 11, 2025 | $-0.17 | $0.66 | +488.2% | $211M | -1.8% |
| Nov 7, 2024 | $-0.08 | $-0.28 | -250.0% | $212M | +1.7% |
| May 1, 2024 | $0.59 | $0.47 | -20.3% | $191M | -0.2% |
| Mar 11, 2024 | $0.46 | $1.15 | +150.0% | $189M | -0.1% |
| Nov 2, 2023 | $-0.29 | $-0.28 | +3.4% | $186M | +0.6% |
| May 4, 2023 | $0.11 | $0.55 | +400.0% | $177M | +6.7% |
| Mar 2, 2023 | $-0.16 | $0.48 | +400.0% | $175M | +3.7% |
| Aug 4, 2022 | $-0.14 | $0.11 | +178.6% | $164M | +3.0% |
| May 5, 2022 | $-0.65 | $-1.15 | -76.9% | $159M | +3.1% |
HRTG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Binnun Sharonofficer: Chief Accounting Officer | Sell | 9,200 | $26.58 |
| Jun 24, 2026 | Binnun Sharonofficer: Chief Accounting Officer | Sell | 9,200 | $24.36 |
| Jun 12, 2026 | WIDDICOMBE RICHARD Adirector, other: Chairman | Grant | 2,703 | — |
| Jun 12, 2026 | Barlas Irinidirector | Grant | 2,703 | — |
| Jun 12, 2026 | Vattamattam Josephdirector | Grant | 2,703 | — |
| Jun 12, 2026 | Apostolou Panagiotisdirector | Grant | 2,703 | — |
| Jun 12, 2026 | WHITING PAUL Ldirector | Grant | 2,703 | — |
| May 20, 2026 | WHITING PAUL Ldirector | Buy | 1,000 | $24.45 |
| May 20, 2026 | WHITING PAUL Ldirector | Buy | 15,000 | $23.50 |
| May 5, 2026 | Binnun Sharonofficer: Chief Accounting Officer | Sell | 9,200 | $28.99 |
| Apr 21, 2026 | Garateix Ernie Jdirector, officer: Chief Executive Officer | Sell | 300 | $28.40 |
| Apr 21, 2026 | Garateix Ernie Jdirector, officer: Chief Executive Officer | Sell | 8,034 | $27.52 |
| Apr 3, 2026 | Moura Timothyofficer: See Remarks | Sell | 16,325 | $26.08 |
| Apr 3, 2026 | Binnun Sharonofficer: Chief Accounting Officer | Sell | 8,700 | $25.69 |
| Apr 3, 2026 | Moura Timothyofficer: See Remarks | Sell | 8,444 | $25.13 |
Source: HRTG SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full HRTG insider & 13F page →Heritage Insurance Holdings, Inc. company profile
Overview
Heritage Insurance Holdings, Inc. (NASDAQ:HRTG) is a Tampa, Florida-based property and casualty insurance company founded in 2012 and publicly traded since 2014. The company provides personal and commercial residential insurance products across 16 states, with a particular focus on catastrophe-prone regions including Florida, the Northeast, and Hawaii. Heritage has evolved from a growth-focused insurer to a disciplined underwriter emphasizing rate adequacy and profitability over volume expansion, particularly following challenging market conditions in recent years.
Business
Heritage Insurance operates in the property and casualty insurance industry, specifically focusing on residential property insurance coverage. Property insurance protects homeowners and property owners against financial losses from damage caused by covered perils such as fire, windstorms, hurricanes, and other natural disasters. The company's core offerings include several distinct product lines: 1. Personal Residential Property Insurance represents the largest segment, providing coverage for single-family homeowners and condominium owners. This traditional homeowners insurance covers dwelling structures, personal property, and liability protection. The company also offers rental property insurance for investment properties. 2. Commercial Residential Insurance has become an increasingly important growth area, accounting for approximately 20% of in-force premiums as of 2025. This segment provides property coverage for multi-family residential buildings, apartment complexes, and other commercial residential properties. 3. Excess & Surplus (E&S) Lines Business represents a newer strategic initiative where Heritage writes policies for properties that don't qualify for standard insurance markets, typically due to higher risk profiles or unique characteristics. This business has grown significantly, particularly in California, Florida, and South Carolina. 4. Wind-Only Property Insurance provides specialized coverage specifically for wind and hurricane damage in high-risk coastal areas. The company also provides ancillary services including restoration and emergency recovery services, property management, and reinsurance services to other insurers.
Revenue model
Heritage Insurance generates revenue primarily through insurance premium collection from policyholders who pay annual or semi-annual premiums for coverage. The company retains a portion of these premiums after paying reinsurance costs to transfer catastrophic risk to larger reinsurance companies. The company's customers are primarily individual homeowners, condominium owners, and commercial property owners who are required by mortgage lenders to maintain property insurance or choose to protect their real estate investments. Heritage distributes its products through a network of approximately 1,500 retail locations via independent agents, wholesale agents, and direct agency partnerships. Revenue streams include: - Net earned premiums (approximately $200 million quarterly) from retained insurance policies after reinsurance costs - Investment income (approximately $8-9 million quarterly) from investing insurance float and surplus capital - Fee income from ancillary services like property management and restoration services Several factors significantly impact Heritage's profitability margins. Catastrophic weather events like hurricanes represent the primary margin pressure, as seen in 2024 when the company absorbed $105 million in pretax catastrophe losses. Claims inflation in construction costs and litigation expenses can erode margins, particularly in Florida where lawsuit abuse has historically been problematic. Reinsurance costs fluctuate based on global catastrophe experience and can consume 40-50% of gross premiums. Conversely, rate increases and improved underwriting discipline have helped expand margins, while recent Florida legislative reforms reducing frivolous lawsuits have provided tailwinds. The company's ability to achieve rate adequacy - pricing policies to cover expected losses plus profit margins - remains the key driver of sustainable profitability.
Risks & safety
Heritage Insurance presents a moderate margin of safety with strong liquidity but elevated operational risks due to catastrophe exposure. **Liquidity and Solvency:** - Strong cash position: $426 million in cash and short-term investments vs. minimal debt - Excellent current ratio of 26.0x indicating strong short-term liquidity - Debt-to-equity ratio of 0.0 showing minimal financial leverage - Positive free cash flow generation in recent quarters **Valuation Metrics:** - Price-to-earnings ratio of 3.6x appears attractively low - Price-to-book ratio of 1.35x reasonable for insurance company - EV/EBITDA of 0.09x suggests potential undervaluation - Return on equity of 39% indicates strong profitability **Risk Considerations:** - High catastrophe exposure creates earnings volatility (absorbed $105M in hurricane losses in 2024) - Operating in hurricane-prone regions increases tail risk - Regulatory risks in key markets like Florida - Concentrated geographic exposure despite diversification efforts - Small scale relative to industry giants limits competitive positioning
Recent development
Heritage Insurance has undergone a significant strategic transformation over the past few years, shifting from aggressive growth to disciplined profitability focus. The company curtailed new business writing in both Northeast and Southeast markets starting in 2022, instead prioritizing rate adequacy and underwriting discipline. This resulted in a 14-15% reduction in policy count while simultaneously increasing premium in-force by 6%, demonstrating successful rate increases. A key strategic pivot has been the expansion into commercial residential insurance, which has grown from 17.5% to over 20% of in-force premiums. This segment offers better risk-adjusted returns and less exposure to litigation issues that plague personal lines in Florida. The company has also strategically entered the Excess & Surplus (E&S) lines business, particularly in California, Florida, and South Carolina, where standard market conditions have created opportunities for specialty insurers. Heritage has benefited significantly from Florida legislative reforms that reduced lawsuit abuse and frivolous litigation, leading to improved loss ratios and claims handling efficiency. The company has invested in technology infrastructure, including new claims systems and enhanced cybersecurity capabilities, to support future growth and operational efficiency. Most recently, Heritage has begun reopening production capacity, moving from 30% capacity to 75% by April 2025, with plans to fully open by year-end 2025. This controlled growth strategy represents a measured return to new business writing after achieving rate adequacy across 90% of their business regions. The company expects accelerated growth to begin in 2026 as market conditions continue to improve and rate increases earn through the portfolio.
HRTG company profile · for informational purposes only — not investment advice.
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