HRTG · Heritage Insurance Holdings, Inc.
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AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. Heritage Insurance (HRTG) reported record Q2 2026 net income of $61.7 million ($2.05 diluted EPS), a 64.9% combined ratio, and $166.5 million of operating cash flow, while securing $63.2 million in annualized catastrophe reinsurance savings; commercial residential premiums remain pressured by Florida competition, partially offsetting continued declines in policies-in-force.
- + Record Q2 net income of $61.7 million and EPS of $2.05, up 28.5% and 32.3% year-over-year, with annualized ROE of 45.4%
- + Combined ratio improved 8.0 points to 64.9%, driven by an 8.1-point net loss ratio improvement to 30.4% including $23.4 million of favorable prior-year reserve development
- + Secured $63.2 million of treaty-year reinsurance savings on the 2026-2027 CAT XOL program with greater protection at lower cost
- + Operating cash flow of $166.5 million in Q2 (up 277% year-over-year) and book value per share up 54.5% year-over-year to $19.09
- + Personal residential premiums-in-force grew 1.2% year-over-year and Texas E&S platform launched, marking geographic expansion
- − Commercial residential premiums-in-force fell 12.7% and gross premiums written fell 5.5% due to Florida competitive pricing pressure
- − Quarterly dividend remains suspended as the Board prioritizes strategic growth over capital returns
- − Net unrealized losses on the fixed-income portfolio increased $4.9 million (net of tax) YTD due to rising interest rates
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Ceded premium ratio | 42.7% | Q2 2026 filing | — |
| Net combined ratio | 64.9% | Q2 2026 filing | — |
| Net expense ratio | 34.5% | Q2 2026 filing | — |
| Net favorable prior-year loss development | $23.4M | Q2 2026 filing | — |
| Net loss ratio | 30.4% | Q2 2026 filing | — |
| Net weather losses | $11.5M | Q2 2026 filing | — |
| Policies-in-force Commercial Residential | 3,140 | Q2 2026 filing | — |
| Policies-in-force Other | 8,930 | Q2 2026 filing | — |
| Policies-in-force Personal Residential | 338,817 | Q2 2026 filing | — |
| Policies-in-force Total | 350,887 | Q2 2026 filing | — |
| Premiums-in-force | $1.41B | second quarter 2026 filing | — |
| Premiums-in-force Commercial Residential | $236,726,188 | Q2 2026 filing | — |
| Premiums-in-force Other | $10,010,765 | Q2 2026 filing | — |
| Premiums-in-force Personal Residential | $1,162,853,241 | Q2 2026 filing | — |
| Premiums-in-force Total | $1,409,590,194 | Q2 2026 filing | — |
| Total Insured Value Commercial Residential | $49,442,769,123 | Q2 2026 filing | — |
| Total Insured Value Personal Residential | $318,809,611,090 | Q2 2026 filing | — |
| Total Insured Value Total | $368,252,380,213 | Q2 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Insurance - Property & Casualty — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
HRTG
this stock
Heritage Insurance Holdings, Inc.
|
$989.20M | +16.2% | +3.7% | 4.7 | 2.9% |
|
CB
Chubb Ltd
|
$128.80B | +6.0% | +6.5% | 11.8 | 0.9% |
|
PGR
Progressive Corp/Oh/
|
$119.47B | -7.6% | +16.3% | 10.3 | 1.1% |
|
TKOMY
Tokio Marine Holdings, Inc.
|
$100.71B | +35.0% | — | — | 0.0% |
|
TRV
Travelers Companies, Inc.
|
$75.72B | +24.2% | +5.2% | 9.8 | 3.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| HRTG | +2.2% | -2.7% | +27.3% | +2.5% | +16.2% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | +2.4% | -2.3% | +15.1% | +1.6% | +3.3% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.