Heritage Insurance Holdings, Inc.

Description

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. It also provides restoration, emergency, and recovery services; property management, and reinsurance services; homeowners insurance products, including single-family, homeowners or duplex, and condominium owners; and dwelling fire insurance policies. In addition, the company provides personal line policies through a network of retail independent agents, wholesale agents, and a partnership with a direct agency, as well as distribute indirectly to retail locations through wholesale agency relationships. Further, it offers personal and commercial insurance policies through a network of independent agencies. The company was founded in 2012 and is headquartered in Tampa, Florida.

About

CEO
Mr. Ernesto Jose Garateix CPCU
Employees
566
Instrument type
Common Stock
Sector
Financial Services
Industry
Insurance - Property & Casualty
MIC code
XNYS
Address
1401 North Westshore Blvd., Tampa, FL 33607, United States
Phone
727 362 7200
Website
Chart Image
× Enlarged Chart
Oscillators
No data available
Summary
No data available
Moving Averages
No data available

Earnings

Date Estimate EPS Actual EPS Difference % Surprise
Nov 5, 2025
Aug 5, 2025
Apr 29, 2025
Mar 11, 2025 -0.17
Nov 7, 2024 0.06 0.27 0.21 350.00%

Earnings estimate

Next Quarter
(Mar 2025)
Next Year
(Dec 2025)
Number of analysts 2 3
Average estimate 0.26 1.89
Low estimate -0.08 1.32
High estimate 0.59 2.25
Last year EPS 0.47 1.86
[stock_revenue_estimate]

Growth estimates

Current qtr
-55.220%
Next qtr. (Mar 2025)
-45.740%
Current year
7.230%
Next year (Dec 2025)
1.890%
Next 5 years (per annum)
Past 5 years (per annum)

Analyst Ratings

Date Firm Action Rating Price Target
Aug 9, 2024
Piper Sandler
Paul Newsome
Upgrade Overweight ▲ Raises $9 → $13
Aug 8, 2024
Truist Securities
Mark Hughes
Maintains Buy ▲ Raises $11 → $12
Apr 15, 2024
JMP Securities
Matthew Carletti
Reiterates Market Perform
Apr 1, 2024
Piper Sandler
Paul Newsome
Maintains Neutral Maintains $9
Mar 13, 2024
JMP Securities
Matthew Carletti
Downgrade Market Perform
Mar 13, 2024
Truist Securities
Mark Hughes
Maintains Buy ▲ Raises $9 → $11
Jan 17, 2024
JMP Securities
Matthew Carletti
Maintains Market Outperform ▲ Raises $6 → $7
Nov 6, 2023
Truist Securities
Mark Hughes
Maintains Buy ▲ Raises $7 → $9
Nov 6, 2023
Piper Sandler
Paul Newsome
Maintains Neutral ▲ Raises $5.7 → $7
Oct 6, 2023
Piper Sandler
Paul Newsome
Maintains Neutral ▼ Lowers $6.35 → $5.7
Oct 5, 2023
Piper Sandler
Paul Newsome
Maintains Neutral ▲ Raises $5.25 → $6.35
Aug 10, 2023
JMP Securities
Matthew Carletti
Maintains Market Outperform ▲ Raises $5 → $6
Jul 12, 2023
JMP Securities
Matthew Carletti
Reiterates Market Outperform Maintains $5
May 8, 2023
Piper Sandler
Paul Newsome
Maintains Neutral ▲ Raises $3.5 → $4.25
Apr 18, 2023
JMP Securities
Matthew Carletti
Reiterates Market Outperform Maintains $3
Mar 6, 2023
Truist Securities
Mark Hughes
Maintains Buy ▲ Raises $3 → $5
Feb 13, 2023
Piper Sandler
Nicole Miller Regan
Downgrade Neutral ▼ Lowers $4.3 → $2.2
Jan 17, 2023
JMP Securities
Matthew Carletti
Maintains Market Outperform ▼ Lowers $4 → $3
Oct 18, 2022
JMP Securities
Karol Chmiel
Maintains Market Outperform ▼ Lowers $6 → $4
Jul 18, 2022
JMP Securities
Matthew Carletti
Maintains Market Outperform ▼ Lowers $10 → $8
Oct 15, 2021
JMP Securities
Maintains Market Outperform ▼ Lowers $14 → $12
Apr 16, 2020
JMP Securities
Matthew Carletti
Maintains Market Outperform ▼ Lowers $18 → $17
Apr 6, 2020
Piper Sandler
Paul Newsome
Upgrade Overweight ▲ Raises $12 → $15
Nov 5, 2019
Keefe, Bruyette & Woods
Downgrade Market Perform ▼ Lowers $17 → $16
Jul 16, 2019
Piper Sandler
Downgrade Hold ▼ Lowers $18 → $17
Jul 16, 2019
Sandler O'Neill
Downgrade Hold
May 15, 2019
JMP Securities
Upgrade Market Outperform
Oct 12, 2018
Citigroup
James Naklicki
Maintains Buy ▼ Lowers $17 → $16.5
Apr 10, 2018
Citigroup
James Naklicki
Maintains Buy ▼ Lowers $21 → $20
Jan 22, 2018
JMP Securities
Downgrade Market Perform

Income statement

2023 2022 2021 2020 2019
Fiscal date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total reported revenue 735.50M 662.46M 631.56M 593.39M 511.31M
Cost of revenue
Gross profit
Operating expense
Research & development
Selling general and admin 77.78M 70.40M 65.79M 81.54M 80.54M
Other operating expenses 48,000
Operating income
Non operating interest income
Income
Expense 11.21M 8.81M 7.97M 7.97M 8.52M
Other income expense 13.53M 13.68M 14.85M 13.97M 14.00M
Pretax income 52.01M -166.17M -76.03M 2.21M 41.00M
Tax provision 6.70M -11.81M -1.31M -7.11M 12.36M
Net income 45.31M -154.36M -74.73M 9.33M 28.64M
Basic EPS 1.73 -5.86 -2.69 0.33 0.98
Diluted EPS 1.73 -5.86 -2.69 0.33 0.98
Basic average shares 26.19M 26.34M 27.80M 27.98M 29.21M
Diluted average shares 26.19M 26.34M 27.80M 27.98M 29.21M
EBITDA
Net income from continuing op. 45.31M -154.36M -74.73M 9.33M 28.64M
Minority interests
Preferred stock dividends

Balance sheet

2023 2022 2021 2020 2019
Fiscal date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total assets
Current assets
Cash
Cash equivalents
Cash and cash equivalents 463.64M 280.88M 359.34M 440.96M 268.35M
Other short term investments 89.53M 113.68M 669.35M 561.01M 587.26M
Accounts receivable 571.92M 897.81M 341.32M 432.51M 492.59M
Other receivables 1.51M
Inventory
Prepaid assets 299.19M 306.98M 265.87M 245.82M 224.10M
Restricted cash
Assets held for sale
Hedging assets
Other current assets
Non current assets
Properties
Land and improvements
Machinery furniture equipment
Construction in progress
Leases
Accumulated depreciation
Goodwill 42.56M 49.58M 239.84M 367.20M 373.56M
Investment properties
Financial assets
Intangible assets 42.56M 49.58M 55.93M 62.28M 68.64M
Investments and advances 562.35M 637.09M 670.77M 562.61M 588.87M
Other non current assets
Total liabilities
Current liabilities
Accounts payable 176.01M 217.46M 201.81M 171.17M 163.58M
Accrued expenses 325,000 733,000 735,000 833,000 1.05M
Short term debt 89.63M 99.13M 69.13M 70.00M 79.38M
Deferred revenue
Tax payable 1.49M 1.00M 871,000
Pensions
Other current liabilities
Non current liabilities
Long term debt 58.57M 61.07M 82.80M 59.15M 58.24M
Provision for risks and charges
Deferred liabilities 9.43M 18.48M 12.62M
Derivative product liabilities
Other non current liabilities
Shareholders equity
Common stock 3,000 3,000 3,000 3,000 3,000
Retained earnings 26.12M -19.19M 138.38M 219.78M 217.27M
Other shareholders equity -35.25M -53.59M -4.57M 6.06M 7.33M
Total shareholders equity 220.28M 131.04M 343.05M 442.34M 448.80M
Additional paid in capital 360.31M 334.71M 332.80M 331.87M 329.57M
Treasury stock 130.90M 130.90M 123.56M 115.37M 105.37M
Minority interest

Cash flow statement

202320222021202020192018201720162015201420132012
Operating Activities
Net Income45.31M-154.36M-74.73M9.33M28.64M27.16M-1.12M33.87M92.51M47.10M34.21M-5.47M
Depreciation
Deferred Taxes40,000-11.20M-5.96M6.24M-898,000-21.56M19.62M3.10M1.02M-3.76M-893,000-3.05M
Stock-Based Compensation1.36M2.01M1.16M4.68M5.38M5.27M4.82M4.82M2.65M3.30M5.73M5.52M
Other Non-Cash Items856,000-1,000-1,000161,000338,0009.79M1.20M-6.49M250,000323,000
Accounts Receivable323.80M-556.87M111.68M30.82M-85.24M51.94M-313.79M-21.47M-10.29M479,000-20.64M-120,000
Accounts Payable-39.98M8.08M29.81M5.57M-10.62M149.40M-79.11M36.46M43.10M-12.48M20.60M8.99M
Other Assets & Liabilities-10.85M12.80M-8.28M18.45M-36.08M-76.38M74.02M-2.07M-18.12M25.86M820,0001.17M
Operating Cash Flow320.54M-699.56M53.68M75.25M-98.49M145.61M-294.37M54.71M104.38M60.74M40.16M7.04M
Investing Activities
Capital Expenditures-9.89M-12.38M-1.01M-755,000-4.98M-2.28M-385,000-1.62M-1.17M-6.93M-10.88M-201,000
Net Intangibles
Net Acquisitions-140.92M-110.32M-6.00M
Purchase of Investments-230.90M-135.00M-334.58M-470.50M-256.88M-219.67M-215.84M-317.67M-237.95M-231.07M-126.97M-13.08M
Sale of Investments341.59M109.52M211.11M493.32M207.92M246.32M349.91M180.19M151.31M38.74M7.42M
Investing Cash Flow100.81M-37.86M-124.48M22.06M-53.59M23.46M-7.24M-249.42M-93.81M-199.26M-136.49M-13.89M
Financing Activities
Long-Term Debt Issuance35.00M2.78M114.20M149.41M77.91M3.90M
Long-Term Debt Payments-9.68M-27.85M-4.93M-9.67M-18.77M-132.50M-25.19M-1.00M
Other Financing Charges-429,000-94,000-231,000-2.38M-3.52M-5.27M-7.21M-1.72M739,0003.90M
Financing Cash Flow14.55M-10.06M-21.91M-38.27M-61.06M-31.95M47.14M43.83M739,00078.76M31.63M32.19M
Other Cash Details
End Cash Position473.34M287.57M364.75M446.38M283.01M262.37M174.53M126.73M236.28M160.48M65.06M63.87M
Income Tax Paid8.57M528,00015.69M14.17M31.29M4.50M31.91M68.82M13.04M28.31M
Interest Paid9.31M7.84M5.28M6.21M7.30M17.57M4.05M16,00048,000
Free Cash Flow60.53M-46.64M59.12M169.46M114.67M94.06M7.10M81.33M151.95M187.27M94.17M49.27M

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Heritage Announces Fourth Quarter and Full Year 2024 Earnings Dates Article
Heritage Announces Fourth Quarter and Full Year 2024 Earnings Dates
TAMPA, Fla. , Feb. 5, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, will announce its fourth quarter and full year 2024 financial results after the market closes on Tuesday, March 11, 2025, followed by a 9:00 am ET conference call and webcast on Wednesday, March 12, 2025.
PRNewsWire Neutral
Feb 5, 2025
Heritage Provides Update on Fourth Quarter 2024 Financial Results and Estimated First Quarter 2025 Catastrophe Losses Article
Heritage Provides Update on Fourth Quarter 2024 Financial Results and Estimated First Quarter 2025 Catastrophe Losses
TAMPA, Fla. , Jan. 29, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today provided an update on the Company's fourth quarter 2024 financial results as well as an estimate of catastrophe loss from the Southern California wildfires expected to be incurred in the first quarter 2025.
PRNewsWire Neutral
Jan 29, 2025
HRTG Stock Rallies 46% in 6 Months: Time to Buy for Higher Returns? Article
HRTG Stock Rallies 46% in 6 Months: Time to Buy for Higher Returns?
HRTG's growing commercial residential business, expanding E&S business and improving pricing to deliver better margins and boost earnings bode well for growth.
Zacks Investment Research Positive
Jan 21, 2025
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