UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 ________________________________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share HRTG New York Stock Exchange Form 10-Q ________________________________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PUR ...

For the quarter ended September 2024, Heritage Insurance (HRTG) reported revenue of $211.85 million, up 13.7% over the same period last year. EPS came in at $0.27, compared to -$0.28 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $209.91 million, representing a surprise of +0.92%. The company delivered an EPS surprise of +1250.00%, with the consensus EPS estimate being $0.02.While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

Company Performance - Heritage Insurance reported quarterly earnings of $0.27 per share, significantly exceeding the Zacks Consensus Estimate of $0.02 per share, and compared to a loss of $0.28 per share a year ago, representing an earnings surprise of 1,250% [1] - The company posted revenues of $211.85 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.92%, and showing an increase from year-ago revenues of $186.3 million [2] - Heritage Insurance has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates four times during the same period [2] Stock Performance - Heritage Insurance shares have increased approximately 66.9% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.24 on revenues of $212.93 million, and for the current fiscal year, it is $0.87 on revenues of $817.72 million [7] Industry Outlook - The Zacks Industry Rank for Insurance - Property and Casualty is currently in the top 20% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can materially impact stock performance [5][8]

TAMPA, Fla., Nov. 6, 2024 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today reported third quarter of 2024 financial results.Third Quarter 2024 Result Highlights Net income of $8.2 million or $0.27 per diluted share, improved from net loss of ($7.4) million or ($0.28) per diluted share in the prior year quarter Gross premiums earned of $354.2 million, up 5.1% from $337.0 million in the prior ...

Core Viewpoint - Heritage Insurance Holdings, Inc. (HRTG) is currently trading at a discount compared to the Zacks Property and Casualty Insurance industry, with a price-to-book value of 1.42X, lower than the industry average of 1.62X and the broader sector's 3.8X [1] Company Overview - HRTG has a market capitalization of $362.4 million and an average trading volume of 0.5 million shares over the last three months [2] Valuation Comparison - HRTG shares are attractively valued compared to NMI Holdings (NMIH) but are considered expensive when compared to MGIC Investment Corporation (MTG) and Radian Group (RDN) [3] Stock Performance - HRTG shares have increased by 82.5% over the past three months, outperforming its industry, sector, and the Zacks S&P 500 composite during the same period [4] Technical Indicators - HRTG shares are trading well above the 50-day moving average, indicating a bullish trend [6] Analyst Sentiment - Positive sentiment is reflected as two analysts have raised earnings estimates for 2024 and 2025 by 33.1% and 26.7%, respectively, over the past 60 days [8] Growth Drivers - Key growth factors for HRTG include rate adequacy, selective underwriting, and limiting new business in over-concentrated markets. The company has ceased writing new personal lines policies in Florida and the Northeast due to declining profitability [9] - HRTG's excess and supply (E&S) business has shown strong performance in states like California, Florida, and South Carolina, with plans to explore growth opportunities in more states [11] Financial Management - HRTG has a solid reinsurance program to protect its balance sheet, especially against coastal risks. Improvements in this program and growing gross premiums are expected to lower the ceded premium ratio [12] - The company has suspended dividend payments to strengthen its financial position and is investing in technology and high-potential segments [12] Profitability Metrics - HRTG's return on equity in the trailing 12 months was 26.3%, significantly higher than the industry average of 8% [13] - The return on invested capital (ROIC) for HRTG was 17.2%, also above the industry average of 6.1%, indicating effective fund utilization [14] Investment Outlook - HRTG's focus on organic growth in its commercial and residential business, along with improvements in pricing and margins, positions it well for future growth. The company currently holds a Zacks Rank 1 (Strong Buy) [16][17]

Some investors prefer to target small-cap stocks, as their growth potential is undoubtedly hard to ignore. After all, don't we all dream of getting in early on the next big thing? Of course, it's critical for investors to realize the higher volatility nature of small-caps, as they are less liquid and more sensitive to monetary policy. For those interested in the idea, two small-caps – Heritage Insurance (HRTG) and EZCORP (EZPW) – sport favorable growth profiles paired with positive Zacks Ranks. Let's take a ...

Friday's mixed jobs report extended the broader selloff in markets this week with September known to be the most volatile month of the year. Amid heightened market volatility investors may want to consider several insurance stocks that have made their way onto the coveted Zacks Rank #1 (Strong Buy) list. Specifically, three of these highly ranked insurance stocks hail from the Zacks Insurance-Property and Casualty Industry which is currently in the top 18% of over 250 Zacks industries. Considering insurance ...

Shares of Heritage Insurance Holdings, Inc. (HRTG) closed at $16.24 on Tuesday, near its 52-week high of $16.55, after having gained 149.2% year to date. Shares outperformed the industry, the Finance sector as well as the Zacks S&P 500 composite index in the same time frame. This super-regional U.S. property and casualty insurance holding company delivered an earnings surprise in three of the last four quarters, while missed in one. Prudent underwriting execution and rate adequacy initiatives pursued over t ...

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2] Company Overview: Heritage Insurance (HRTG) - Heritage Insurance currently holds a Momentum Style Score of B, indicating potential for solid momentum [3] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong performance expectations [4] Performance Metrics - HRTG shares have increased by 1.78% over the past week, while the Zacks Insurance - Property and Casualty industry rose by 1.85% [6] - Over the last quarter, HRTG shares have surged by 88.7%, and over the past year, they have gained 190.36%, significantly outperforming the S&P 500's increases of 5.71% and 27.74% respectively [7] Trading Volume - The average 20-day trading volume for HRTG is 634,642 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, two earnings estimates for HRTG have been revised upwards, increasing the consensus estimate from $1.45 to $1.93 [10] - For the next fiscal year, two estimates have also moved higher, with no downward revisions noted [10]

Core Viewpoint - Heritage Insurance (HRTG) is currently identified as a strong value stock, supported by its Zacks Rank of 1 (Strong Buy) and an A for Value, indicating it is likely undervalued in the market [3][6]. Valuation Metrics - HRTG has a Price-to-Sales (P/S) ratio of 0.63, significantly lower than the industry average of 1.21, suggesting it may be undervalued [4]. - The company’s Price-to-Cash Flow (P/CF) ratio stands at 7.69, compared to the industry average of 11.64, indicating a solid cash outlook and potential undervaluation [5]. Investment Outlook - The combination of HRTG's strong earnings outlook and favorable valuation metrics positions it as an attractive investment opportunity for value investors [6].