L'intérêt à découvert pour Heritage Insurance Hldgs donne aux investisseurs une idée du degré auquel les investisseurs parient sur la baisse de l'action de Heritage Insurance Hldgs. Les données sur l'intérêt à découvert sont mises à jour toutes les deux semaines.

Heritage Insurance Hldgs (NYSE:HRTG) Stock, Rapport sur les intérêts à découvert

Heritage Insurance Hldgs

Heritage Insurance Holdings Inc is a regional property and casualty insurance company that offers a variety of personal and commercial insurance products. Through its subsidiaries, Heritage Property & Casualty Insurance, Narragansett Bay Insurance, and Zephyr Insurance, the company issues personal residential property insurance in various states in the United States. It also offers commercial residential insurance predominantly for its Florida properties. Heritage Insurance manages insurance underwriting, customer services, actuarial analysis, distribution, and claims processing internally.

Heritage Insurance Holdings, Inc. Common Stock

Heritage Insurance Holdings Inc

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling around 300 points during on Monday.
The Dow traded down 0.71% to 42,012.42 while the NASDAQ fell 0.52% to 18,026.03. The S&amp;P 500 also fell, dropping, 0.45% to 5,712.53.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/09/41091653/how-to-earn-500-a-month-from-mccormick-stock-ahead-of-q3-earnings">How To Earn $500 A Month From McCormick Stock Ahead Of Q3 Earnings</a>
Leading and Lagging Sectors Communication services shares fell by just 0.1% on Monday.
In trading on Monday, materials shares dipped by 1.3%.
Top Headline
Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) posted better-than-expected quarterly earnings.
Carnival posted adjusted earnings of $1.27 per share, beating analysts' estimates of $1.16 per share. The company posted quarterly sales of $7.90 billion versus expectations of $7.83 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>ZEEKR Intelligent Technology Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>) shares shot up 9% to $22.95. Shares of US-listed Chinese companies traded higher on continued strength amid stimulus efforts. September PMI data beat estimates but factory activity fell, which may raise stimulus hopes.</li>
<li>Shares of Prime Medicine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRME#NASDAQ">PRME</a>) got a boost, surging 13% to $3.9140 after the company announced a strategic research collaboration and license agreement with Bristol Myers Squibb to develop reagents for the next generation of ex vivo T-cell therapies. Also, it announced that it is focusing its pipeline on a set of high value programs.</li>
<li>EMCORE Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMKR#NASDAQ">EMKR</a>) shares were also up, gaining 74% to $2.10 after Mobix Labs submitted an all-cash offer to acquire the company for $3.80 per share.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Prothena Corporation plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTA#NASDAQ">PRTA</a>) shares dropped 15% to $17.01. Prothena announced leadership team updates. Cantor Fitzgerald analyst Charles Duncan reiterated Prothena with an Overweight rating.</li>
<li>Shares of Heritage Insurance Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NASDAQ">HRTG</a>) were down 20% to $12.44.</li>
<li>Stellantis N.V. &nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) was down, falling 13% to $13.91 after the company lowered its FY24 guidance.</li>
</ul>
Commodities In commodity news, oil traded down 0.1% to $68.12 while gold traded down 0.4% at $2,656.90.
Silver traded down 1.5% to $31.33 on Monday, while copper fell 1.1% to $4.5490.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 fell 0.98%, Germany's DAX fell 0.76% and France's CAC 40 dipped 2.00%. Spain's IBEX 35 Index fell 0.76%, while London's FTSE 100 fell 1.01%.
The British economy grew by 0.5% on quarter during the second quarter, down from 0.7% in the first quarter, while the UK's current account deficit widened to £28.4 billion in the second quarter, versus a revised £13.8 billion in the prior quarter. Net consumer credit in the U.K. rose by £1.3 billion in August, from £1.2 billion in the previous month. German import prices increased by 0.2% year-over-year in August compared to a 0.9% rise in July.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei 225 dipping 4.80%, Hong Kong's Hang Seng Index jumping 2.43%, China's Shanghai Composite Index gaining 8.06% and India's BSE Sensex falling 1.49%.
Japan&#8217;s housing starts fell by 5.1% year-over-year in August compared to a 0.2% decline in the prior month, while industrial production fell by 3.3% month-over-month in August. Retail sales in Japan climbed by 2.8% year-over-year in August.
The official NBS Non-Manufacturing PMI in China fell to 50.0 in September from 50.3 in the prior month, while official NBS Manufacturing PMI climbed to 49.8 in September from 49.1 in August.
Economics
The Chicago PMI rose to 46.6 in September from 46.1 in August versus market estimates of 46.2.
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Equities

News

Eurozone

Commodities

Intraday Update

Markets

Trading Ideas

EMKR

HRTG

PRME

PRTA

STLA

Dow Dips 300 Points; Emcore Shares Spike Higher

U.S. stocks traded mixed midway through trading, with the Dow Jones index falling more than 200 points during on Monday.
The Dow traded down 0.55% to 42,079.06 while the NASDAQ rose 0.14% to 18,144.66. The S&amp;P 500 also fell, dropping, 0.14% to 5,730.18.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/09/41091653/how-to-earn-500-a-month-from-mccormick-stock-ahead-of-q3-earnings">How To Earn $500 A Month From McCormick Stock Ahead Of Q3 Earnings</a>
Leading and Lagging Sectors Consumer staples shares jumped by 0.3% on Monday.
In trading on Monday, materials shares fell by 0.6%.
Top Headline
The Chicago PMI rose to 46.6 in September from 46.1 in August versus market estimates of 46.2
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares shot up 11% to $7.24 after investors agreed to invest an aggregate of 3.3 billion yuan in its Nio China subsidiary while the company agreed to invest 10 billion yuan.</li>
<li>Shares of Prime Medicine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRME#NASDAQ">PRME</a>) got a boost, surging 23% to $4.26 after the company announced a strategic research collaboration and license agreement with Bristol Myers Squibb to develop reagents for the next generation of ex vivo T-cell therapies. Also, it announced that it is focusing its pipeline on a set of high value programs.</li>
<li>EMCORE Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMKR#NASDAQ">EMKR</a>) shares were also up, gaining 71% to $2.06 after Mobix Labs submitted an all-cash offer to acquire the company for $3.80 per share.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Prothena Corporation plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTA#NASDAQ">PRTA</a>) shares dropped 19% to $16.31. Prothena announced leadership team updates. Cantor Fitzgerald analyst Charles Duncan reiterated Prothena with an Overweight rating.</li>
<li>Shares of Heritage Insurance Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NASDAQ">HRTG</a>) were down 17% to $12.94.</li>
<li>Stellantis N.V. &nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) was down, falling 14% to $13.79 after the company lowered its FY24 guidance.</li>
</ul>
Commodities In commodity news, oil traded up 0.9% to $68.81 while gold traded down 0.5% at $2,655.10.
Silver traded down 1.2% to $31.44 on Monday, while copper fell 1.4% to $4.5340.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.84%, Germany's DAX fell 0.66% and France's CAC 40 dipped 1.71%. Spain's IBEX 35 Index fell 0.52%, while London's FTSE 100 fell 0.81%.
The British economy grew by 0.5% on quarter during the second quarter, down from 0.7% in the first quarter, while the UK's current account deficit widened to £28.4 billion in the second quarter, versus a revised £13.8 billion in the prior quarter. Net consumer credit in the U.K. rose by £1.3 billion in August, from £1.2 billion in the previous month. German import prices increased by 0.2% year-over-year in August compared to a 0.9% rise in July.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei 225 dipping 4.80%, Hong Kong's Hang Seng Index jumping 2.43%, China's Shanghai Composite Index gaining 8.06% and India's BSE Sensex falling 1.49%.
Japan&#8217;s housing starts fell by 5.1% year-over-year in August compared to a 0.2% decline in the prior month, while industrial production fell by 3.3% month-over-month in August. Retail sales in Japan climbed by 2.8% year-over-year in August.
The official NBS Non-Manufacturing PMI in China fell to 50.0 in September from 50.3 in the prior month, while official NBS Manufacturing PMI climbed to 49.8 in September from 49.1 in August.
Economics
The Chicago PMI rose to 46.6 in September from 46.1 in August versus market estimates of 46.2.
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Earnings

Long Ideas

Crude Oil Moves Higher; Prime Medicine Shares Spike Higher

As of Sept. 6, 2024, four stocks in the financials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/&quot;">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Virtu Financial Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>)</h3>
<ul>
<li>On July 18, Virtu Financial reported better-than-expected second-quarter financial results. Virtu's board of directors declared a quarterly cash dividend of 24 cents per share. This dividend is payable on Sept. 15 to shareholders of record as of Sept. 1. The company's stock gained around 14% over the past month and has a <a href="https://www.benzinga.com/quote/VIRT">52-week high of $31.75</a>.</li>
<li>RSI Value: 83.52&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>VIRT Price Action: Shares of Virtu Financial gained 0.8% to close at $31.44 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">KKR Real Estate Finance Trust Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>)</h3>
<ul>
<li>On July 22, KKR Real Estate Finance posted upbeat quarterly results. The company's stock gained around 15% over the past month and <a href="https://www.benzinga.com/quote/KREF">has a 52-week high</a> of $14.12.</li>
<li>RSI Value: 70.54</li>
<li>KREF Price Action: Shares of KKR Real Estate Finance Trust surged 5.7% to close at $12.24 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Heritage Insurance Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>)</h3>
<ul>
<li>On Aug. 6, Heritage Insurance posted upbeat quarterly earnings. &#8220;First, on behalf of the entire Heritage family, we wish a swift and complete recovery to all of those impacted by Hurricane Debby.  Our team has been responding to policyholder needs and remains ready to provide outstanding claim service.  With regard to the second quarter, our strong results demonstrate the continued execution of our underwriting and rate adequacy initiatives over the last three years,&#8221; remarked Ernie Garateix, CEO at Heritage. The company's stock gained around 124% over the past month and has a<a href="https://www.benzinga.com/quote/HRTG"> 52-week high</a> of $16.90.</li>
<li>RSI Value: 75.73</li>
<li>HRTG Price Action: Shares of Heritage Insurance fell 2.3% to close at $16.27 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">First Northwest BanCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNWB#NASDAQ">FNWB</a>)</h3>
<ul>
<li>On July 25, First Northwest Bancorp posted better-than-expected quarterly sales. &#8220;In spite of challenging times for the entire industry as a result of the rate environment, First Northwest executed on a balance sheet restructure strategy. The restructure included a sale-leaseback transaction for six of our branches, a restructure of our bank-owned life insurance policies, two securities loss sale transactions, two balance sheet hedges against fixed rate loans and municipal bonds and the sale of our Visa B shares,&#8221; commented Matthew P. Deines, President and CEO. The company's stock jumped around 17% over the past month and has a 52-week high is $16.12.</li>
<li>RSI Value: 72.83</li>
<li>FNWB Price Action: Shares of First Northwest BanCorp fell 1% to close at $11.57 on Thursday. </li>
</ul>
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Short Ideas

Pre-Market Outlook

FNWB

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Top 4 Financials Stocks That May Crash This Month

As of Aug 13, 2024, two stocks in the financials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Sezzle Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>)</h3>
<ul>
<li>On Aug. 7, Sezzle reported better-than-expected second-quarter financial results. &#8220;Our strategic efforts continued to pay off in the second quarter, as Net Income reached new highs driven by a combination of strong revenue growth and leveraging our operating infrastructure,&#8221; stated Charlie Youakim, Sezzle Chairman and CEO. &#8220;We are excited to raise our 2024 guidance, as we now expect Total Revenue to increase 35%-40% YoY (previous guidance of 25%), Net Income of $55.0 million (previous guidance of $30.0 million), and Adjusted Net Income of $40.0 million (new guidance).&#8221; The company's stock gained around 58% over the past five days and has a <a href="https://www.benzinga.com/quote/SEZL">52-week high of $126.04</a>.</li>
<li>RSI Value: 72.74&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>SEZL Price Action: Shares of Sezzle closed at $118.36 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Heritage Insurance Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>)</h3>
<ul>
<li>On Aug. 6, Heritage Insurance posted upbeat quarterly earnings. &#8220;First, on behalf of the entire Heritage family, we wish a swift and complete recovery to all of those impacted by Hurricane Debby.  Our team has been responding to policyholder needs and remains ready to provide outstanding claim service.  With regard to the second quarter, our strong results demonstrate the continued execution of our underwriting and rate adequacy initiatives over the last three years,&#8221; remarked Ernie Garateix, CEO at Heritage. The company's stock gained around 49% over the past five days and <a href="https://www.benzinga.com/quote/HRTG">has a 52-week high</a> of $11.48.</li>
<li>RSI Value: 78.10</li>
<li>HRTG Price Action: Shares of Heritage Insurance closed at $10.76 on Monday.</li>
</ul>
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Top 2 Financials Stocks You May Want To Dump In August

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Heritage Insurance Holdings shares are trading higher after Piper Sandler upgraded the stock from Neutral to Overweight an raised its price target from $9 to $13.

Piper Sandler analyst Paul Newsome upgrades Heritage Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) from Neutral to Overweight and raises the price target from $9 to $13.

Upgrades

Price Target

Analyst Ratings

Piper Sandler Upgrades Heritage Insurance Hldgs to Overweight, Raises Price Target to $13

Truist Securities analyst Mark Hughes maintains Heritage Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) with a Buy and raises the price target from $11 to $12.

Truist Securities Maintains Buy on Heritage Insurance Hldgs, Raises Price Target to $12

Heritage Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) reported quarterly earnings of $0.61 per share which beat the analyst consensus estimate of $0.41 by 48.78 percent. This is a 103.33 percent increase over earnings of $0.30 per share from the same period last year. The company reported quarterly sales of $190.316 million which missed the analyst consensus estimate of $196.805 million by 3.30 percent. This is a 7.64 percent increase over sales of $176.804 million the same period last year.

Earnings Beats

Earnings Misses

Heritage Insurance Hldgs Q2 2024 GAAP EPS $0.61 Beats $0.41 Estimate, Sales $190.316M Miss $196.805M Estimate

The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of&nbsp;April 30, ranking them by total market capitalization.
The inclusion into the index took effect at the opening of the U.S. equity markets on&nbsp;Monday July 1, 2024.

Heritage Insurance Reports Inclusion In The Russell 3000 Index

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Heritage Insurance Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>)</h3>
<ul>
<li>On May 1, Heritage Insurance Holdings reported worse-than-expected first-quarter EPS. &#8220;I&#8217;m pleased to see the momentum of our efforts to respond to market conditions continues to produce our intended results,&#8221; remarked Ernie Garateix, CEO at Heritage. &#8220;Our average premium has increased across the book of business, and we believe the quality of our book of business continues to improve.&#8221; The company's stock fell around 21% over the past month and has a <a href="https://www.benzinga.com/quote/HRTG">52-week low of $3.87</a>.</li>
<li>RSI Value: 27.01</li>
<li>HRTG Price Action: Shares of Heritage Insurance gained 1.7% to close at $6.47 on Wednesday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to latest <a href="https://pro.benzinga.com/dashboard">Heritage Insurance's news</a>.</li>
</ul>
<h3 class="wp-block-heading">Fanhua Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANH#NASDAQ">FANH</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On June 3, Fanhua disclosed a strategic partnership with Baidu AI Cloud for application of large model in insurance distribution. Mr. Yinan Hu, co-founder, Vice Chairman and Chief Executive Officer of Fanhua said, &#8220;We are excited about the strategic partnership with Baidu. As a leading global AI company, Baidu has made numerous technological accomplishments and strong innovative capabilities in artificial intelligence, making this partnership a tremendous new growth opportunity for us.&#8221; The company's stock fell around 20% over the past five days. It <a href="https://www.benzinga.com/quote/FANH">has a 52-week low</a> of $1.76.</li>
<li>RSI Value: 14.91</li>
<li>FANH Price Action: Shares of Fanhua fell 1.1% to close at $1.78 on Wednesday.</li>
<li><a href="https://pro.benzinga.com/dashboard">Benzinga Pro's charting tool</a> helped identify the trend in Fanhua's stock.</li>
</ul>
<h3 class="wp-block-heading">Future Fintech Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTFT#NASDAQ">FTFT</a>)</h3>
<ul>
<li>On April 30, Future FinTech entered into a new bitcoin mining hosting agreement for its cryptocurrency farm in Norwalk, Ohio. The company's stock fell around 42% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/FTFT">low of $0.41</a>.</li>
<li>RSI Value: 23.07</li>
<li>FTFT Price Action: Shares of Future Fintech fell 5.1% to close at $0.46 on Wednesday.</li>
<li>Benzinga Pro's signals feature notified of a potential breakout in <a href="https://pro.benzinga.com/dashboard">Future Fintech's shares</a>.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/07/39639846/s-p-500-settles-at-new-record-even-as-fear-greed-index-moves-to-fear-zone">S&amp;P 500 Settles At New Record Even As Fear &amp; Greed Index Moves To &#8216;Fear&#8217; Zone</a>

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Heritage Insurance Holdings shares are trading lower after the company reported worse-than-expected Q1 EPS.

Heritage Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) reported quarterly earnings of $0.47 per share which missed the analyst consensus estimate of $0.56 by 16.07 percent. This is a 14.55 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $191.302 million which beat the analyst consensus estimate of $189.047 million by 1.19 percent. This is a 8.13 percent increase over sales of $176.921 million the same period last year.

Heritage Insurance Hldgs Q1 2024 GAAP EPS $0.47 Misses $0.56 Estimate, Sales $191.302M Beat $189.047M Estimate

Heritage Insurance Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company announced today that it fully placed its 2024-2025 indemnity based, catastrophe excess-of-loss reinsurance program for its insurance subsidiaries, Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company, and Zephyr Insurance Company.
"We are delighted to announce the successful completion of our 2024-2025 catastrophe excess of loss reinsurance program," stated Heritage CEO Ernie Garateix. "We value the unwavering support of our valued long-term reinsurance partners as well as new reinsurance partners and reaffirm our commitment to provide appropriate coverage for the markets we serve. I'm pleased to continue to place a portion of our program through capital markets using catastrophe bonds issued by Citrus Re, which provides multi-year reinsurance coverage."
Key points of the 2024-2025 catastrophe reinsurance program include:
<ul>
<li>Total consolidated cost of approximately&nbsp;$422.3 million.</li>
<li>The prior year program included over $70.0 million of limit provided through the Florida Reinsurance to Assist Policyholders ("RAP") program at no cost to the Company. The current year program cost includes replacement of that program with external reinsurance partners.</li>
<li>External party first event reinsurance tower exhaustion points of $1.1 billion for the Northeast, $1.3 billion in the Southeast and $750.0 million in Hawaii. Each reinsurance tower may be supplemented with limit purchased through affiliate Osprey Re.</li>
<li>The 2024 catastrophe excess of loss reinsurance program includes a Southeast-only limit of $100.0 million through catastrophe bonds issued by Citrus Re Ltd., a Bermuda-domiciled special purpose vehicle. This addition complements the existing Citrus Re 2023 catastrophe bonds, which featured a $120.0 million Northeast only limit and a $115.0 million combined Northeast/Hawaii limit, both of which remain unused. Furthermore, the $100 million limit of the 2022 in-force Northeast-only catastrophe bond also remains unutilized and available for the 2024 hurricane season.</li>
<li>The loss retention for the Company is approximately $40.0 million for the Southeast and Hawaii, respectively, and $32 million for the Northeast. The retention for each insurance company could be reduced by limit purchased through affiliate Osprey Re.</li>
<li>Florida Hurricane Catastrophe Fund participation of 90.0%, consistent with the prior year program.</li>
<li>The entire program is indemnity based, with no parametric covers.</li>
</ul>

Heritage Announces Full Placement Of 2024-2025 CAT XOL Reinsurance Program; Total Consolidated Cost Of ~$422.3M

Offerings

Heritage Insurance Files Mixed Securities Shelf Offering For Up To $100M

JMP Securities analyst Matthew Carletti reiterates Heritage Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) with a Market Perform.

Reiteration

JMP Securities Reiterates Market Perform on Heritage Insurance Hldgs

Piper Sandler analyst Paul Newsome maintains Heritage Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) with a Neutral and maintains $9 price target.

Piper Sandler Maintains Neutral on Heritage Insurance Hldgs, Maintains $9 Price Target

Buybacks

Heritage Insurance Holdings Announces Share Repurchase Program Of $10M

Truist Securities analyst Mark Hughes maintains Heritage Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) with a Buy and raises the price target from $9 to $11.

Truist Securities Maintains Buy on Heritage Insurance Hldgs, Raises Price Target to $11

JMP Securities analyst Matthew Carletti downgrades Heritage Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) from Market Outperform to Market Perform.

Downgrades

JMP Securities Downgrades Heritage Insurance Hldgs to Market Perform

Heritage Insurance Holdings shares are trading higher after the company reported better-than-expected Q4 financial results.

Heritage Insurance Holdings, Inc. (HRTG) Q2 2024 Earnings Call Transcript

In a report released today, Matthew Carletti from JMP Securities reiterated a Hold rating on Heritage Insurance Holdings (HRTG – Research Report). ...

Heritage Insurance Holdings (HRTG) Receives a Hold from JMP Securities

Heritage Insurance stock jumps after Piper upgrades to Overweight

Heritage Insurance, EZCORP, and Erie Indemnity have all enjoyed positive price action over the last month. But what's driving the outperformance? Let's take a closer look.

3 Buy Rated Finance Stocks Flashing Relative Strength: HRTG, ERIE, EZPW

Heritage Insurance: Riding The Wave Of Florida's Reformed Insurance Market

Small-cap stocks have climbed recently. Here are the ones most poised for further upside

Small-caps get a lift after Fed's jumbo rate cut; see top 20 names per SA Quant ratings

Small-caps get a lift after Fed's jumbo rate cut; see top 20 names in SA Quant ratings

Small-caps get a lift after Fed's jumbo rate cut: See top 20 names in SA Quant ratings

Heritage Insurance: The 24 Hours That Changed Everything

AMSC

AQST

AVDV

AVUV

BFLY

BYRN

CALF

CDNA

CLOV

COMM

CURI

DAVE

DFAS

DFSV

ERIE

ESOA

EVER

EZPW

FNDA

GASS

GTHX

HMENF

HYLN

IGIC

INSG

JAGGF

OPFI

PRAX

PSIX

PSNL

RMTI

SCHA

SLNCF

SUPV

USAP

VIRC

Insurance

Press Releases

Heritage Reports Fourth Quarter 2023 Results

Small Cap

Opinion

Thinking about buying stock in Inpixon, Medical Marijuana, Hello Group, Vroom, or Heritage Insurance Holdings?

Heritage Insurance Holdings Announces Share Repurchase Program

Heritage Announces First Quarter 2024 Earnings Dates

Heritage Announces Full Placement of 2024-2025 CAT XOL Reinsurance Program

Heritage Reports First Quarter 2024 Results

Heritage Insurance Holdings, Inc. Announces Approved 3.3% Rate Decrease for Property and Casualty Insurance in Florida

Comments

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