What is the 13F Pro Quality Score for HRTG?

13F Pro ranks Heritage Insurance Holdings, Inc. (HRTG) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View HRTG's current score at https://13fpro.ai/research/HRTG (free sign-up required for the full ranking).

Where does 13F Pro source HRTG data?

All Heritage Insurance Holdings, Inc. fundamentals and ownership data come directly from SEC EDGAR. Heritage Insurance Holdings, Inc. files with the SEC under CIK 1598665. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is HRTG in?

Heritage Insurance Holdings, Inc. (HRTG) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives HRTG's revenue?

Per Heritage Insurance Holdings, Inc.'s latest 10-Q filed with the SEC on 2026-05-08, the biggest revenue drivers are: Net premiums earned ($199.7M, -0.2% YoY); Net investment income ($9.9M, +15.1% YoY); Other revenue ($3.1M, +5.8% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/HRTG.

What are HRTG's largest expenses?

Heritage Insurance Holdings, Inc.'s latest 10-Q reports these as the largest expense items: Losses and loss adjustment expenses ($91.6M, -7.9% YoY); General and administrative expenses ($24.9M, +4.4% YoY); Policy acquisition costs ($45.3M, -1.0% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is HRTG research updated on 13F Pro?

HRTG's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Heritage Insurance Holdings, Inc.(HRTG)Stock Analysis

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13F Pro Quality Score

69.5/100

Rank #363 of 2,879 stocksTOP 25%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

56.7/100

Profitability

86.9/100

Balance Sheet

80.4/100

Earnings Quality

94.8/100

Free Cash Flow

80.1/100

Institutional Flow

30.3/100

Revenue Scale

46.3/100

Dilution Risk

69.3/100

HRTG Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Heritage Insurance Holdings, Inc. (HRTG), a Financials sector company. 13F Pro's AI-powered ranking engine scores HRTG at 69.5/100 on a 32-signal composite quality model, placing it at rank #363 of 2,879 stocks — the top 25% of the AI-ranked universe. HRTG scores in the top quartile across earnings quality (94.8), profitability (86.9), balance sheet strength (80.4). Areas of concern include institutional flow (30.3), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), Heritage Insurance Holdings, Inc. reports quarterly revenue of $212.7M, net income of $36.5M, an operating margin of 23.9%. Top institutional holders of HRTG by reported 13-F value include BlackRock,, DIMENSIONAL FUND ADVISORS, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. HRTG trades on the NYSE exchange and files with the SEC under CIK 1598665. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate HRTG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Heritage Insurance Holdings, Inc. directly from SEC EDGAR. Heritage Insurance Holdings, Inc.'s 13F Pro composite quality score has ranged between 25 and 70 since 2021, currently 69.5 — an improving long-term trajectory across 28 quarterly and live scoring snapshots.

What's Driving HRTG's Business? Latest 10-Q Breakdown

AI-extracted from Heritage Insurance Holdings, Inc.'s 10-Q filed 2026-05-08 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Net income of $36.5M (+19.7% YoY) driven by improved underwriting results and higher investment income, with net combined ratio improving 3.5 points to 81.0%.

Biggest Revenue Drivers

Total revenue: $212.7M+0.5% YoY

Net premiums earned$199.7M-0.2% YoY

Relatively flat from prior year as reduction in commercial residential business offset by higher personal residential premiums.

Net investment income$9.9M+15.1% YoY

Higher cash and invested assets balances moving out on yield curve, partly offset by lower yields on money market funds.

Other revenue$3.1M+5.8% YoY

Miscellaneous revenue items.

Largest Expense Items

Losses and loss adjustment expenses$91.6M-7.9% YoY

Lower catastrophe losses and attritional losses; net weather/catastrophe losses $36.7M vs $43.5M prior year.

General and administrative expenses$24.9M+4.4% YoY

Increase driven largely by higher human capital related costs.

Policy acquisition costs$45.3M-1.0% YoY

Lower policy and membership fees due to systems efficiencies, partly offset by higher agent commission.

Watch Items from the Filing

Commercial residential premiums-in-force declined 7.8% YoY to $256.4M due to competitive market conditions in Florida; company focused on maintaining adequate margins over growth.
Concentration in catastrophe-exposed coastal states (Florida, California, Hawaii); Q1 2026 had $24.4M non-hurricane catastrophe losses from northeast winter storms.
Net reinsurance recoverable declined $57.4M to $261.2M due to Hurricanes Ian and Milton claim payments and favorable loss development; exposure to reinsurer performance remains.
Total shareholders' equity of $520.4M increased modestly from $505.3M; company repurchased $10.0M of stock in Q1 2026 under $25.0M annual authorization.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$212.7M

Net Income

Q1 2026

$36.5M

Free Cash Flow

Q1 2026

$23.0M

Operating Margin

Q1 2026

23.9%

D/E Ratio

Q1 2026

0.15

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+15.2% YoY

$847.3MFY 2025

FY20 $593.4MFY21 $631.6MFY23 $735.5MFY25 $847.3M

Net Income

+331.7% YoY

$195.6MFY 2025

FY20 $9.3MFY21 $-74.7MFY23 $45.3MFY25 $195.6M

Operating Income

+322.6% YoY

$267.2MFY 2025

FY20 $10.2MFY21 $-68.1MFY23 $63.2MFY25 $267.2M

EPS (Diluted)

+265.3% YoY

$6.32FY 2025

FY20 $0.33FY21 $-2.69FY23 $1.73FY25 $6.32

Total Assets

+3.6% YoY

$2.20BFY 2025

FY20 $2.09BFY21 $1.98BFY23 $2.12BFY25 $2.20B

Total Debt

-34.5% YoY

$78.4MFY 2025

FY20 $121.0MFY21 $120.8MFY23 $119.7MFY25 $78.4M

Op. Cash Flow

+158.8% YoY

$182.2MFY 2025

FY20 $170.2MFY21 $60.1MFY23 $70.4MFY25 $182.2M

Metric	FY 2025	FY 2023	FY 2021	FY 2020	FY 2019	FY 2018
Revenue	$847.3M +15.2%	$735.5M +16.5%	$631.6M +6.4%	$593.4M +16.1%	$511.3M +6.5%	$480.2M
Net Income	$195.6M +331.7%	$45.3M +160.6%	$-74.7M -901.3%	$9.3M -67.4%	$28.6M +5.5%	$27.2M
Operating Income	$267.2M +322.6%	$63.2M +192.9%	$-68.1M -768.3%	$10.2M -79.5%	$49.6M -28.7%	$69.5M
EPS (Diluted)	$6.32 +265.3%	$1.73 +164.3%	$-2.69 -915.2%	$0.33 -66.3%	$0.98 -5.8%	$1.04
Total Assets	$2.20B +3.6%	$2.12B +7.0%	$1.98B -5.2%	$2.09B +7.7%	$1.94B +9.7%	$1.77B
Total Debt	$78.4M -34.5%	$119.7M -0.8%	$120.8M -0.2%	$121.0M -6.4%	$129.2M -13.1%	$148.8M
Operating Cash Flow	$182.2M +158.8%	$70.4M +17.1%	$60.1M -64.7%	$170.2M +42.2%	$119.7M +24.2%	$96.3M

AI Insight: HRTG Financial Trends

HRTG's operating income nearly tripled from $28M to $90M in six quarters while debt fell 36%, signaling a decisive profitability inflection.

• Operating income surged from $28M in Q2 2024 to $90M in Q4 2025, with Q1 2026 at $51M still well above year-ago levels.

• Total debt declined steadily from $121M in Q2 2024 to $78M in Q1 2026, a 36% reduction over seven quarters.

• Equity expanded sharply from $255M in Q2 2024 to $520M in Q1 2026, more than doubling on retained earnings accumulation.

• Operating cash flow remains volatile, swinging from -$56M in Q4 2024 to $124M in Q3 2025 and back to $14M–$25M range.

⚠ Net income dropped to $36M in Q1 2026 from $67M in Q4 2025 — watch whether this reflects seasonality or margin pressure.

⚠ Operating cash flow remains erratic; two consecutive negative quarters in Q3–Q4 2024 warn against relying solely on earnings quality.

⚠ Revenue growth is essentially flat at $204M–$215M across eight quarters — top-line expansion has not accompanied margin improvement.

AI Insight: HRTG Ratio Trends

HRTG's leverage collapsed from 0.47 to 0.15 D/E while ROIC surged from 11.8% to 61.5% peak, marking a dramatic multi-quarter profitability inflection.

• Operating margin expanded sharply from 5.5% in Q3 2024 to 41.6% in Q4 2025, a 36pp improvement over five quarters.

• D/E ratio fell from 0.47 in Q2 2024 to 0.15 in Q1 2026, reflecting significant balance sheet deleveraging.

• ROIC peaked at 61.5% in Q4 2025 but pulled back to 34.0% in Q1 2026, suggesting potential seasonality or moderation.

• ROE dropped from 52.8% in Q4 2025 to 28.0% in Q1 2026, the sharpest single-quarter decline in the series.

⚠ Q1 2026 operating margin fell to 23.9% from 41.6% in Q4 2025 — monitor whether this is seasonal or trend reversal.

⚠ ROA dipped to 7.2% in Q1 2026 from 12.2% in Q4 2025; confirm the TTM figure of 10.0% holds going forward.

⚠ With D/E now at 0.15, watch whether management deploys capital aggressively, which could re-lever the balance sheet.

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Available Research

13F Pro tracks comprehensive data for Heritage Insurance Holdings, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of HRTG

BlackRock, Inc.
$57.5M2,190,370 sh
DIMENSIONAL FUND ADVISORS LP
$32.7M1,246,923 sh
VANGUARD CAPITAL MANAGEMENT LLC
$26.3M1,001,243 sh
AMERICAN CENTURY COMPANIES INC
$26.0M988,951 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$22.2M846,693 sh
GEODE CAPITAL MANAGEMENT, LLC
$19.4M738,890 sh
Connor, Clark & Lunn Investment Management Ltd.
$14.5M550,867 sh
STATE STREET CORP
$13.8M525,099 sh
PRUDENTIAL FINANCIAL INC
$12.9M492,092 sh
Assenagon Asset Management S.A.
$12.1M461,844 sh

Fund	Value	Shares
BlackRock, Inc.	$57.5M	2,190,370
DIMENSIONAL FUND ADVISORS LP	$32.7M	1,246,923
VANGUARD CAPITAL MANAGEMENT LLC	$26.3M	1,001,243
AMERICAN CENTURY COMPANIES INC	$26.0M	988,951
VANGUARD PORTFOLIO MANAGEMENT LLC	$22.2M	846,693
GEODE CAPITAL MANAGEMENT, LLC	$19.4M	738,890
Connor, Clark & Lunn Investment Management Ltd.	$14.5M	550,867
STATE STREET CORP	$13.8M	525,099
PRUDENTIAL FINANCIAL INC	$12.9M	492,092
Assenagon Asset Management S.A.	$12.1M	461,844

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Is HRTG a good stock to buy?

13F Pro's AI-powered analysis of Heritage Insurance Holdings, Inc. (HRTG) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for HRTG are available on the HRTG stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own HRTG?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling HRTG. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Heritage Insurance Holdings, Inc.'s investment landscape.