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/company/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 2026-08-07, the biggest revenue drivers are: Net premiums earned ($201.1M, +2.4% YoY); Net investment income ($10.6M, +17.3% YoY); Other revenue ($2.5M, -6.3% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/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 ($61.1M, -19.3% YoY); Policy acquisition costs ($45.5M, +5.5% YoY); General and administrative expenses ($23.8M, -2.5% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 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

64.4/100

Rank #552 of 2,962 stocksTOP 25%

View Financials peers →

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

Revenue Growth

44.7/100

Profitability

88.6/100

Balance Sheet

82.5/100

Earnings Quality

63.5/100

Free Cash Flow

87.7/100

Institutional Flow

51.5/100

Revenue Scale

47.1/100

Dilution Risk

69.4/100

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Why HRTG Scores 64/100

exact factor attribution · 2026-09-11

HRTG's composite is driven by profitability and free cash flow, held back by revenue growth. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Profitability

+7.7 pts

89th pct

Free cash flow

+5.7 pts

88th pct

Capital efficiency

+4.3 pts

83th pct

Earnings growth

+2.9 pts

94th pct

Earnings quality

+1.4 pts

64th pct

Shareholder dilution

+1.3 pts

69th pct

Institutional flow

+0.1 pts

52th pct

Scale

-0.6 pts

47th pct

Revenue growth

-1.4 pts

45th pct

Latest change (2026-08-07): 70 → 62 · ↓ Free cash flow 80→44; ↓ Revenue growth 57→42

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

HRTG Stock Analysis & AI Quality Score

Data updated 2026-09-11

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 64.4/100 on a 32-signal composite quality model, placing it at rank #552 of 2,962 stocks — the top 25% of the AI-ranked universe. HRTG scores in the top quartile across profitability (88.6), free cash flow (87.7), balance sheet strength (82.5). Based on the latest XBRL financial filings (Q2 2026), Heritage Insurance Holdings, Inc. reports quarterly revenue of $214.2M, net income of $61.7M, an operating margin of 39.1%. Top institutional holders of HRTG by reported 13-F value include BlackRock, DIMENSIONAL FUND ADVISORS, AMERICAN CENTURY COMPANIES, 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 69 since 2021, currently 64.4 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

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

✓ 24/24 datapoints verified

AI-extracted from Heritage Insurance Holdings, Inc.'s 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Net income rose 28.5% YoY to $61.7 million as the net combined ratio improved 8.0 points to 64.9%, driven by $23.4 million of favorable prior-year reserve development.

Biggest Revenue Drivers

Net premiums earned$201.1M+2.4% YoY

Lower ceded premiums from the reduced northeast quota share program and June 2026 CAT XOL savings offset a decline in commercial residential business.

Net investment income$10.6M+17.3% YoY

Higher average invested asset balances and reinvestment of maturing assets at higher yields.

Biggest Revenue Drivers

Total revenue: $214.2M+3.0% YoY

Net premiums earned$201.1M+2.4% YoY

Lower ceded premiums from the reduced northeast quota share program and June 2026 CAT XOL savings offset a decline in commercial residential business.

Net investment income$10.6M+17.3% YoY

Higher average invested asset balances and reinvestment of maturing assets at higher yields.

Other revenue$2.5M-6.3% YoY

Largest Expense Items

Losses and loss adjustment expenses$61.1M-19.3% YoY

Net favorable prior-year loss reserve development of $23.4 million (vs. $2.3 million prior year) and lower weather losses of $11.5 million (vs. $12.5 million).

Policy acquisition costs$45.5M+5.5% YoY

Reduction in ceding commissions following the year-end 2025 cut to the net quota share program, plus higher policy-related costs.

General and administrative expenses$23.8M-2.5% YoY

Lower municipal tax expense and regulatory compliance costs.

Margins: Net combined ratio improved 8.0 points to 64.9% from 72.9%, driven by an 8.1-point drop in the net loss ratio to 30.4% on favorable reserve development and lower weather losses, while the net expense ratio held flat at 34.5%.

Watch Items from the Filing

Net favorable prior-year reserve development was $23.4 million in Q2 2026 versus just $2.3 million in Q2 2025, a large driver of the loss ratio improvement and earnings growth.
Commercial residential premiums-in-force fell 12.7% YoY to $236.7 million amid intense competition in the Florida commercial residential market; total policies-in-force declined 5.2% YoY.
Business remains concentrated in coastal, hurricane-exposed states, with 2026-2027 catastrophe reinsurance first-event limits of $1.865B (Heritage P&C), $1.245B (NBIC) and $1.0B (Zephyr).
Board authorized a new $50.0 million share repurchase plan in May 2026; $37.4 million of capacity remained as of June 30, 2026 after repurchasing 1,001,508 shares in H1 2026.

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

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

Revenue

Q2 2026

$214.2M

Net Income

Q2 2026

$61.7M

Free Cash Flow

Q2 2026

$141.0M

Operating Margin

Q2 2026

39.1%

ROIC

Q2 2026

52.5%

D/E Ratio

Q2 2026

0.13

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+3.7% YoY

$847.3MFY 2025

FY22 $662.5MFY23 $735.5MFY24 $817.0MFY25 $847.3M

Net Income

+217.8% YoY

$195.6MFY 2025

FY22 $-154.4MFY23 $45.3MFY24 $61.5MFY25 $195.6M

Operating Income

+185.4% YoY

$267.2MFY 2025

FY22 $-157.4MFY23 $63.2MFY24 $93.6MFY25 $267.2M

EPS (Diluted)

+214.4% YoY

$6.32FY 2025

FY22 $-5.86FY23 $1.73FY24 $2.01FY25 $6.32

Total Assets

-11.1% YoY

$2.20BFY 2025

FY22 $2.39BFY23 $2.15BFY24 $2.47BFY25 $2.20B

Total Debt

-32.6% YoY

$78.4MFY 2025

FY22 $128.9MFY23 $119.7MFY24 $116.3MFY25 $78.4M

Op. Cash Flow

+109.2% YoY

$182.2MFY 2025

FY22 $-34.3MFY23 $70.4MFY24 $87.1MFY25 $182.2M

Free Cash Flow

+120.8% YoY

$174.2MFY 2025

FY22 $-42.8MFY23 $60.5MFY24 $78.9MFY25 $174.2M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$847.3M +3.7%	$817.0M +11.1%	$735.5M +11.0%	$662.5M +4.9%	$631.6M +6.4%	$593.4M
Net Income	$195.6M +217.8%	$61.5M +35.8%	$45.3M +129.4%	$-154.4M -106.6%	$-74.7M -901.3%	$9.3M
Operating Income	$267.2M +185.4%	$93.6M +48.1%	$63.2M +140.2%	$-157.4M -131.2%	$-68.1M -768.3%	$10.2M
EPS (Diluted)	$6.32 +214.4%	$2.01 +16.2%	$1.73 +129.5%	$-5.86 -117.8%	$-2.69 -915.2%	$0.33
Total Assets	$2.20B -11.1%	$2.47B +14.7%	$2.15B -10.0%	$2.39B +20.8%	$1.98B -5.2%	$2.09B
Total Debt	$78.4M -32.6%	$116.3M -2.9%	$119.7M -7.1%	$128.9M +6.8%	$120.8M -0.2%	$121.0M
Operating Cash Flow	$182.2M +109.2%	$87.1M +23.7%	$70.4M +305.5%	$-34.3M -157.0%	$60.1M -64.7%	$170.2M
Free Cash Flow	$174.2M +120.8%	$78.9M +30.3%	$60.5M +241.4%	$-42.8M -172.4%	$59.1M -65.1%	$169.5M

AI Insight: HRTG Financial Trends

HRTG doubled net income over two years while cutting debt by 40% and growing equity 103%, despite flat revenue.

• Net income surged from $8M in Q3 2024 to $62M in Q2 2026, a 675% increase, while revenue remained flat near $212M.

• Operating margin expanded from 5.7% in Q3 2024 to 39.3% in Q2 2026, driven by operational leverage and underwriting discipline.

• Total debt fell 40% from $119M to $71M; equity nearly doubled from $279M to $568M, strengthening the balance sheet materially.

• Operating cash flow turned consistently positive, reaching $142M in Q2 2026 from negative $13M in Q3 2024.

⚠ Q1 2026 net income dropped 42% to $36M from Q4 2025's $67M peak; seasonal or signal of margin pressure warrants monitoring.

⚠ Revenue flat at $212–215M across all eight quarters; organic growth absent despite margin expansion and balance sheet gains.

AI Insight: HRTG Ratio Trends

HRTG pivoted sharply to profitability: OpMargin surged from 5.5% in Q3 2024 to 39.1% in Q2 2026, with ROIC climbing to 52.5% and leverage halving to 0.13.

• Operating margin expanded 33.6pp over 9 quarters (Q3 2024: 5.5% → Q2 2026: 39.1%), driven by improved underwriting discipline.

• ROIC jumped from 11.8% (Q3 2024) to 52.5% (Q2 2026), signaling stronger capital deployment and operational efficiency gains.

• Debt-to-equity ratio declined steadily from 0.42 to 0.13 over 9 quarters, indicating significant deleveraging and balance sheet strengthening.

⚠ Q1 2026 profitability metrics dipped sharply (OpMargin: 23.9%, ROIC: 34.0%) vs Q4 2025 peak—confirm if seasonal or operational headwind.

⚠ TTM NPM of 25.2% significantly exceeds Q2 2026 NPM of 28.8%, suggesting recent quarter volatility; monitor earnings consistency.

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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.
$60.8M2,332,889 sh
DIMENSIONAL FUND ADVISORS LP
$34.2M1,310,615 sh
AMERICAN CENTURY COMPANIES INC
$27.8M1,066,936 sh
VANGUARD CAPITAL MANAGEMENT LLC
$26.4M1,013,658 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$24.8M949,090 sh
GEODE CAPITAL MANAGEMENT, LLC
$19.6M749,878 sh
STATE STREET CORP
$14.7M564,008 sh
Connor, Clark & Lunn Investment Management Ltd.
$14.4M553,556 sh
Pacific Ridge Capital Partners, LLC
$13.1M500,463 sh
JANE STREET GROUP, LLC
$12.5M477,890 sh

Fund	Value	Shares
BlackRock, Inc.	$60.8M	2,332,889
DIMENSIONAL FUND ADVISORS LP	$34.2M	1,310,615
AMERICAN CENTURY COMPANIES INC	$27.8M	1,066,936
VANGUARD CAPITAL MANAGEMENT LLC	$26.4M	1,013,658
VANGUARD PORTFOLIO MANAGEMENT LLC	$24.8M	949,090
GEODE CAPITAL MANAGEMENT, LLC	$19.6M	749,878
STATE STREET CORP	$14.7M	564,008
Connor, Clark & Lunn Investment Management Ltd.	$14.4M	553,556
Pacific Ridge Capital Partners, LLC	$13.1M	500,463
JANE STREET GROUP, LLC	$12.5M	477,890

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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. HRTG is classified as a small company.

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.