Heritage Declares Quarterly Cash Dividend
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Heritage Insurance (HRTG) Tops Q1 EPS by 4c
May 4, 2020 4:35 PM EDTHeritage Insurance (NYSE: HRTG) reported Q1 EPS of $0.27, $0.04 better than the analyst estimate of $0.23.
Net income for the quarter was $7.6 million, or $0.27 per diluted share.Book value per share increased to $16.11, up 9.0% from March 31, 2019 and 2.9% (11.5% annualized growth rate) from year-end 2019.Gross premiums written of $229.1 million, up 8.9% year-over-year, including 12.0% growth outside Florida and 6.4% growth in Florida.Favorable prior year reserve development of $4.1 million, representing seventh consecutive quarter of favorable prior year reserve development.Net current accident quarter weather losses of $21.2 million, including $17.0 million of net current accident... More