Heritage Insurance Holdings, Inc.

NYSE:HRTG Stock Report

Market Cap: US$353.7m

Heritage Insurance Holdings Management

Management criteria checks 2/4

Heritage Insurance Holdings' CEO is Ernie Garateix, appointed in Dec 2020, has a tenure of 4.08 years. total yearly compensation is $5.00M, comprised of 20% salary and 80% bonuses, including company stock and options. directly owns 3.7% of the company’s shares, worth $13.07M. The average tenure of the management team and the board of directors is 6.8 years and 10.7 years respectively.

Key information

Ernie Garateix

Chief executive officer

US$5.0m

Total compensation

CEO salary percentage20.0%
CEO tenure4yrs
CEO ownership3.7%
Management average tenure6.8yrs
Board average tenure10.7yrs

Recent management updates

Recent updates

Heritage Insurance: Potential For Above-Average Stock Gains In 2025

Dec 02

Results: Heritage Insurance Holdings, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

Nov 09
Results: Heritage Insurance Holdings, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

Heritage Insurance: Float Based Analysis

Oct 30

Market Cool On Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) Revenues Pushing Shares 36% Lower

Oct 23
Market Cool On Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) Revenues Pushing Shares 36% Lower

Heritage Insurance: The 24 Hours That Changed Everything

Sep 30

A Piece Of The Puzzle Missing From Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) 102% Share Price Climb

Aug 28
A Piece Of The Puzzle Missing From Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) 102% Share Price Climb

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

Aug 27

Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) Subdued P/S Might Signal An Opportunity

Jul 14
Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) Subdued P/S Might Signal An Opportunity

Heritage Insurance: How The Stock Looks After Q1 2024 Earnings

May 13

A Piece Of The Puzzle Missing From Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) 56% Share Price Climb

Mar 21
A Piece Of The Puzzle Missing From Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) 56% Share Price Climb

Earnings Beat: Heritage Insurance Holdings, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Mar 14
Earnings Beat: Heritage Insurance Holdings, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Heritage Insurance: An Unjustified Premium

Jan 18

Heritage Insurance Is My Best Value Idea

Oct 26

Heritage Insurance announces $10M stock buyback plan

Jan 17

Heritage Insurance sees $40M in net retained losses from Hurricane Ian

Oct 13

Heritage Insurance GAAP EPS of -$3.32 misses by $3.34, revenue of $163.77M beats by $4.78M

Aug 04

CEO Compensation Analysis

How has Ernie Garateix's remuneration changed compared to Heritage Insurance Holdings's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2024n/an/a

US$72m

Jun 30 2024n/an/a

US$57m

Mar 31 2024n/an/a

US$46m

Dec 31 2023US$5mUS$1m

US$45m

Sep 30 2023n/an/a

US$27m

Jun 30 2023n/an/a

-US$14m

Mar 31 2023n/an/a

-US$110m

Dec 31 2022US$2mUS$1m

-US$154m

Sep 30 2022n/an/a

-US$216m

Jun 30 2022n/an/a

-US$184m

Mar 31 2022n/an/a

-US$100m

Dec 31 2021US$3mUS$1m

-US$75m

Sep 30 2021n/an/a

-US$23m

Jun 30 2021n/an/a

-US$12m

Mar 31 2021n/an/a

-US$3m

Dec 31 2020US$2mUS$1m

US$9m

Sep 30 2020n/an/a

US$19m

Jun 30 2020n/an/a

US$33m

Mar 31 2020n/an/a

US$29m

Dec 31 2019US$1mUS$900k

US$29m

Sep 30 2019n/an/a

US$20m

Jun 30 2019n/an/a

US$18m

Mar 31 2019n/an/a

US$19m

Dec 31 2018US$1mUS$900k

US$27m

Sep 30 2018n/an/a

US$18m

Jun 30 2018n/an/a

US$3m

Mar 31 2018n/an/a

US$8m

Dec 31 2017US$1mUS$773k

-US$1m

Compensation vs Market: Ernie's total compensation ($USD5.00M) is above average for companies of similar size in the US market ($USD2.09M).

Compensation vs Earnings: Ernie's compensation has increased by more than 20% in the past year.

CEO

Ernie Garateix (52 yo)

4yrs

Tenure

US$4,995,816

Compensation

Mr. Ernesto Jose Garateix, CPCU, also known as Ernie, had been the Chief Operating Officer at Heritage Insurance Holdings, Inc. since December 22, 2014 and served as its Executive Vice President since Augu...

Leadership Team

NamePositionTenureCompensationOwnership
Ernesto Garateix
CEO & Director4yrsUS$5.00m3.7%
$ 13.1m
Kirk Lusk
CFO & Treasurer6.7yrsUS$2.54m1.89%
$ 6.7m
Timothy Moura
President of Narragansett Bay Insurance Company6.9yrsUS$1.67m0.86%
$ 3.0m
Sharon Binnun
Chief Accounting Officer8.6yrsUS$728.61k0.57%
$ 2.0m
Timothy Johns
President of Zephyr Insurance Company6.7yrsUS$454.45k0.12%
$ 435.8k
Stephen Rohde
Advisoryno dataUS$959.41kno data

6.8yrs

Average Tenure

62.5yo

Average Age

Experienced Management: HRTG's management team is seasoned and experienced (6.8 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Ernesto Garateix
CEO & Director4.1yrsUS$5.00m3.7%
$ 13.1m
Richard Widdicombe
Independent Chairman12.3yrsUS$243.33k2.39%
$ 8.5m
Paul Whiting
Independent Director1.8yrsUS$134.83k0.45%
$ 1.6m
Mark Berset
Director5.9yrsUS$165.00k2.6%
$ 9.2m
Panagiotis Apostolou
Independent Director12.3yrsUS$167.50k0.65%
$ 2.3m
Nicholas Pappas
Independent Director10.7yrsUS$175.00k0.26%
$ 926.5k
Joseph Vattamattam
Independent Director10.7yrsUS$175.00k0.20%
$ 710.3k
Vijay Walvekar
Independent Director12.3yrsUS$170.00k1.08%
$ 3.8m
Irini Barlas
Independent Director10.3yrsUS$175.00k0.29%
$ 1.0m

10.7yrs

Average Tenure

52yo

Average Age

Experienced Board: HRTG's board of directors are seasoned and experienced ( 10.7 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 03:42
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Heritage Insurance Holdings, Inc. is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Matthew CarlettiJMP Securities
Christopher CampbellKeefe, Bruyette, & Woods
Jon Paul NewsomePiper Sandler Companies