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Heritage Insurance Holdings (Heritage Insurance Holdings) Effective Interest Rate on Debt % : 7.57% (As of Mar. 2024)


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What is Heritage Insurance Holdings Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Heritage Insurance Holdings's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $11.3 Mil. Heritage Insurance Holdings's average total debt for the quarter that ended in Mar. 2024 was $149.4 Mil. Therefore, Heritage Insurance Holdings's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 7.57%.


Heritage Insurance Holdings Effective Interest Rate on Debt % Historical Data

The historical data trend for Heritage Insurance Holdings's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Heritage Insurance Holdings Effective Interest Rate on Debt % Chart

Heritage Insurance Holdings Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.95 5.98 5.67 5.64 7.27

Heritage Insurance Holdings Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.25 7.02 6.78 8.01 7.57

Competitive Comparison of Heritage Insurance Holdings's Effective Interest Rate on Debt %

For the Insurance - Property & Casualty subindustry, Heritage Insurance Holdings's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Heritage Insurance Holdings's Effective Interest Rate on Debt % Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Heritage Insurance Holdings's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Heritage Insurance Holdings's Effective Interest Rate on Debt % falls into.



Heritage Insurance Holdings Effective Interest Rate on Debt % Calculation

Heritage Insurance Holdings's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -11.21/( (160.19+148.194)/ 2 )
=-1  *  -11.21/154.192
=7.27 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=61.065 + 99.125
=160.19

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=58.569 + 89.625
=148.194

Heritage Insurance Holdings's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2023 )+Total Debt  (Q: Mar. 2024 ))/ count )
=-1  *  -11.32/( (148.194+150.705)/ 2 )
=-1  *  -11.32/149.4495
=7.57 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=58.569 + 89.625
=148.194

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=63.455 + 87.25
=150.705

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Heritage Insurance Holdings  (NYSE:HRTG) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Heritage Insurance Holdings Effective Interest Rate on Debt % Related Terms

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Heritage Insurance Holdings (Heritage Insurance Holdings) Business Description

Traded in Other Exchanges
Address
1401 N. Westshore Boulevard, Tampa, FL, USA, 33607
Heritage Insurance Holdings Inc is a regional property and casualty insurance company that offers a variety of personal and commercial insurance products. Through its subsidiaries, Heritage Property & Casualty Insurance, Narragansett Bay Insurance, and Zephyr Insurance, the company issues personal residential property insurance in more than 10 states in the United States. It also offers commercial residential insurance primarily for its Florida properties. Heritage Insurance manages insurance underwriting, customer services, actuarial analysis, distribution, and claims processing internally.
Executives
Paul L Whiting director 2910 BAY TO BAY BLVD #200, TAMPA FL 33629
Ernie J Garateix officer: Chief Operating Officer 2600 MCCORMICK DRIVE, SUITE 300, CLEARWATER IL 33759
Richard A Widdicombe director, officer: President P O BOX 407193, FORT LAUDERDALE FL 33340
Raymond T Hyer 10 percent owner 3919 E 7TH AVENUE, TAMPA FL 33605
Timothy Moura officer: See Remarks C/O 2600 MCCORMICK DRIVE, SUITE 300, CLEARWATER FL 33301
Kirk Lusk officer: Chief Financial Officer 2600 MCCORMICK DRIVE, SUITE 300, CLEARWATER FL 33759
Sean W Poole other: Member of Group 3919 E 7TH AVE, TAMPA FL 33605
Tara K Tira other: Member of Group 3919 E 7TH AVENUE, TAMPA FL 33605
Kathleen A Hyer other: Member of Group 3919 E 7TH AVENUE, TAMPA FL 33605
Hyer Family Partnership, Llc other: Member of Group 3919 E 7TH AVE, TAMPA FL 33605
Futura Circuits Corp. other: Member of Group 3919 E 7TH AVE, TAMPA FL 33605
Steven C. Martindale officer: Chief Financial Officer C/O HERITAGE INSURANCE HOLDINGS, INC., 2600 MCCORMICK DRIVE SUITE 300, CLEARWATER FL 33759
Timothy E. Johns officer: See Remarks C/O HEI, P.O. BOX 730, HONOLULU HI 96808
Bruce Lucas director, officer: Chairman & CEO 2109 E. PALM AVENUE, TAMPA FL 33605
Mark S Berset director 700 CENTRAL AVE, SAINT PETERSBURG FL 33701

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