Heritage Insurance
Writes residential property coverage through a vertically integrated multi-carrier platform.
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Profile
Writes personal and commercial residential property insurance through carrier subsidiaries. A vertically integrated platform operating across 16 states depends on catastrophe reinsurance and Florida claims conditions.
Personal and commercial residential property coverage is written through Heritage P&C, Narragansett Bay Insurance Company, and Zephyr Insurance Company. The platform operates across 16 states, with commercial residential coverage in Florida, Hawaii, New Jersey, and New York.
Underwriting, customer service, actuarial analysis, distribution, claims processing, and adjusting are managed within the platform. Its Florida roots were broadened through the Hawaii-based Zephyr acquisition and the addition of NBIC. The company reports a residential property insurance segment.
Catastrophe reinsurance, the Florida Hurricane Catastrophe Fund, and Florida claims and litigation conditions shape the residential property insurance business.
Company facts
Key statistics
Year to date +24.0% · Average volume (30d) 315.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 6, 2026 | Truist Financial | Target | $36 | $42 | |
| Jul 15, 2026 | Piper Sandler | Reiterate | Overweight | $13 | $31 |
| May 11, 2026 | Truist Financial | Target | $39 | $36 | |
| Mar 9, 2026 | Truist Financial | Target | $35 | $39 | |
| Sep 19, 2025 | Truist Financial | Target | $12 | $35 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $1.25 | $2.05 | +64.0% | $212.7M | $214.2M | +0.7% | +16.47% |
| May 7, 2026Q1 FY26 | $1.53 | $1.19 | −22.2% | $215.4M | $212.7M | −1.3% | −20.05% |
| Mar 9, 2026Q4 FY25 | $1.61 | $2.15 | +33.5% | $212.6M | $215.3M | +1.3% | −1.96% |
| Nov 5, 2025Q3 FY25 | $0.53 | $1.63 | +207.5% | $212.6M | $212.5M | −0.1% | +12.48% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $211.5M | $208.0M | $212.5M | $142.4M | $212.7M | $214.2M | |
| Gross profit | $66.3M | $89.3M | $92.5M | $93.9M | $121.1M | $153.1M | |
| Operating income | $49.4M | $63.0M | $68.3M | $87.9M | $49.0M | $82.2M | |
| Net income | $30.5M | $48.0M | $50.4M | $66.7M | $36.5M | $61.7M | |
| Diluted EPS | $0.99 | $1.55 | $1.63 | $2.15 | $1.19 | $2.05 | |
| Gross margin | 31.3% | 42.9% | 43.5% | 66.0% | 56.9% | 71.5% | |
| Operating margin | 23.3% | 30.3% | 32.2% | 61.8% | 23.1% | 38.4% |
Fiscal years (4-quarter sums)FY21 $631.6M · FY22 $662.5M · FY23 $735.5M · FY24 $829.3M · FY25 $774.4M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $715.5M · Total debt $91.8M · Total assets $2.45B · Shareholders' equity $567.7M
Dividends
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 13, 2022 | Jun 14 | Jul 5 | $0.06 | |
| Mar 16, 2022 | Mar 17 | Apr 6 | $0.06 | |
| Dec 14, 2021 | Dec 15 | Jan 6 | $0.06 | |
| Sep 14, 2021 | Sep 15 | Oct 6 | $0.06 |
Ownership
Shares outstanding 30.27M · Float 22.67M · 74.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 2.33M | 7.71% | 13F | Aug 7, 2026 |
| Raymond T. Hyer | 2.18M | 7.03% | 13G | Aug 4, 2025 |
| Dimensional Fund Advisors LP | 1.31M | 4.33% | 13F | Aug 11, 2026 |
| American Century Companies Inc | 1.07M | 3.52% | 13F | Aug 12, 2026 |
| Ernie J. Garateix · director, officer: Chief Executive Officer | 1.04M | 3.44% | Form 4 | Aug 26, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Ernie J. Garateix | director, officer: Chief Executive Officer | −10,000 | $34.88 |
| Aug 19, 2026 | Timothy E. Johns | officer: See Remarks | −3,500 | $33.68 |
| Aug 17, 2026 | Kirk Lusk | officer: Chief Financial Officer | −10,000 | $34.16 |
| Aug 18, 2026 | Ernie J. Garateix | director, officer: Chief Executive Officer | −5,000 | $34.55 |
| Aug 17, 2026 | Ernie J. Garateix | director, officer: Chief Executive Officer | −5,000 | $34.31 |
Peers
- Universal Insurance
Florida-centered homeowners carrier across 19 states
- HCI Group
Florida-focused homeowners insurer with Northeast and Southeast reach
- American Coastal Insurance
Florida commercial-residential insurer for associations and apartments
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Heritage Insurance | $34.77 | +2.74% | $1.03B | 4.8 | 6.7 | 1.3 | +3.0% |
| Universal Insurance | $43.43 | +0.12% | $1.21B | 5.7 | 9.4 | 0.7 | +55.3% |
| HCI Group | $186.29 | +0.05% | $2.38B | 7.7 | 9.3 | 2.5 | +11.2% |
| American Coastal Insurance | $9.50 | +0.11% | $460.4M | 4.7 | 9.9 | 1.4 | +150.2% |
| Median | 5.7 | 9.4 | 1.4 | +55.3% |