Key events, in time order
Q2 EPS of $2.05, well above Zacks consensus of $0.99, up from $1.55 a year ago
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A trader regrets selling HRTG, which is trading below book value and repurchasing shares, suggesting a potential undervaluation.
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Facts and opinions separated · All items sourced · Not investment advice
Heritage Insurance sells home and condo property coverage across 17 US states, plus commercial residential policies in Florida, New Jersey, and New York. Think of it as a regional homeowner's safety net against hurricanes and fires.
Premiums from personal residential policies are the main revenue engine, with 2025 revenue of USD 0.85B and net income of USD 0.20B. Gross margin jumped to 63% in 2025 from 22% in 2024, showing improving underwriting profitability.
State licensing and established agency relationships with roughly 70 independent agencies and 8 wholesale partners create barriers, but Florida's hurricane exposure and competition from Allstate and Progressive pressure pricing. Moat is eroding as climate risk
