Heritage Insurance Hldgs Inc Stock Price, News & Analysis

Heritage Insurance Holdings (NYSE: HRTG), a super-regional property and casualty insurance holding company, announced its participation in the upcoming Sidoti Small-Cap Virtual Investor Conference. CEO Ernie Garateix and CFO Kirk Lusk will represent the company on June 11, 2025, with a scheduled presentation at 1:00 PM Eastern Time. The management team will also engage in one-on-one meetings with investors. The presentation will be accessible via live webcast through Heritage's Investor Relations website, with a replay available afterward.

Heritage Insurance Holdings (NYSE: HRTG) has successfully completed its 2025-2026 catastrophe excess-of-loss reinsurance program for its insurance subsidiaries. The company increased its purchased limit by $285 million to $2.479 billion, with total cost rising by just $7.8 million to $430.9 million. The program includes $200 million in new catastrophe bonds through Citrus Re Ltd.

Key features include external party first event reinsurance tower exhaustion points of $1.6 billion for Southeast, $1.1 billion for Northeast, and $865 million for Hawaii. The company maintains loss retentions of approximately $50 million for Southeast and Hawaii, and $39.3 million for Northeast, with potential reductions through Osprey Re. The program maintains a 90% Florida Hurricane Catastrophe Fund participation.

Heritage Insurance Holdings (NYSE: HRTG) reported strong Q1 2025 results with net income of $30.5 million ($0.99 per share), up 114.2% from $14.2 million in Q1 2024. Key metrics include: - Gross premiums earned increased 3.6% to $353.8M - Net premiums earned rose 11.5% to $200.0M - Net combined ratio improved to 84.5% from 94.0% - Return on equity increased to 39.3% from 25% Despite $31.8M in losses from California wildfires, the company demonstrated resilience through strategic initiatives focused on rate adequacy, selective underwriting, and portfolio diversification. Heritage is now entering a growth phase, expanding territory coverage from 30% to nearly 75% of production capacity, with plans to reach 100% by end of 2025. The Board continues dividend suspension to prioritize strategic growth.

Heritage Insurance Holdings (NYSE: HRTG), a super-regional property and casualty insurance holding company, has scheduled its first quarter 2025 financial results announcement. The company will release its Q1 2025 results after market close on Tuesday, May 6, 2025.

A conference call and webcast will follow on Wednesday, May 7, 2025 at 9:00 am ET. Investors can join via telephone using the domestic dial-in (1-888-346-3095) or international dial-in (1-412-902-4258). A live audio webcast will be available in the investors section of Heritage's website, with a replay option available afterward.

Heritage Insurance Holdings (NYSE: HRTG) reported Q4 2024 financial results with net income of $20.3 million ($0.66 per diluted share), down from $30.9 million ($1.15 per share) in Q4 2023. The quarter included a $57.0 million pre-tax impact from Hurricane Milton losses.

Key metrics include:

• Gross premiums earned: $360.4 million (+6.1% YoY)
• Net premiums earned: $199.3 million (+12.1% YoY)
• Net loss ratio: 54.7% (+3.7 points YoY)
• Net combined ratio: 89.7% (+4.8 points YoY)
• Book value per share: $9.50 (+30.3% from 2023)

The company achieved its 12th consecutive quarter of in-force premium growth, reaching $1.43 billion (+5.7% YoY). Heritage's Board continues to suspend quarterly shareholder dividends to prioritize strategic growth. The company plans to strategically re-open territories for new personal lines business and maintain focus on profitable geographies.

Heritage Insurance Holdings (NYSE: HRTG) has announced it will release its fourth quarter and full year 2024 financial results after market close on Tuesday, March 11, 2025. The company will host a conference call and webcast to discuss the results on Wednesday, March 12, 2025, at 9:00 am ET.

The earnings call will be accessible via phone through domestic (1-888-346-3095) and international (1-412-902-4258) dial-in numbers. A live audio webcast will also be available in the investors section of Heritage's website, with an archived version provided for replay. The company regularly posts financial information and material announcements on investors.heritagepci.com.

Heritage Insurance Holdings (NYSE: HRTG) anticipates its strongest earnings quarter of 2024 in Q4, surpassing Q2's $18.9 million after-tax net income. The Q4 results include a $57.0 million impact from Hurricane Milton, comprising $40.0 million in retained catastrophe losses and $17.0 million in net reinstatement premium.

The company has successfully settled over 9,000 hurricane claims from 2024, disbursing more than $140 million, with approximately 90% of 2024 hurricane claims now closed. Lower than expected non-catastrophe accident year losses positively influenced Q4 results.

For Q1 2025, Heritage expects to incur $35.0 - $40.0 million in pre-tax net catastrophe losses from Southern California wildfires. The company is actively participating in insurance villages in California to assist affected policyholders.

Heritage Insurance Holdings (NYSE: HRTG) announced a new $10.0 million share repurchase program starting December 31, 2024, following the expiration of its prior $10.0 million repurchase plan. The new program will run through December 31, 2025, allowing the company to repurchase shares through open market purchases and privately negotiated transactions.

Share purchases will be determined by trading windows, liquidity, market conditions, and other factors including legal requirements and debt covenant restrictions. Heritage, a super-regional property and casualty insurance holding company, currently writes approximately $1.4 billion of gross personal and commercial residential premium across multiple states.

Heritage Insurance Holdings (NYSE: HRTG) reported strong Q3 2024 results with net income of $8.2 million ($0.27 per share), improving from a net loss of $7.4 million in Q3 2023. The company achieved gross premiums earned of $354.2 million (up 5.1%) and net premiums earned of $198.8 million (up 12.6%). The net combined ratio improved to 100.6%, down 10.2 points year-over-year. Despite retaining $48.0 million in hurricane losses, Heritage maintained profitability and demonstrated successful execution of strategic initiatives focused on rate adequacy and portfolio improvement. The company's book value per share increased to $9.10, up 61.1% from Q3 2023.