Nelson pointed out that the huge increase in the Dec qtr & going forward is because of all the Citizen policies(from buyouts), which generally carry more risk than conventional policies held by the other florida prop/causualy insureres. The question is, how much less of a PE should we be tacking on HRTG for the additional risk ?
I sold HRTG in the 25.20's. I think fair value is in the $28-30 range, but with being in the heart of hurricane season coming, the risk/reward, considering the stock is waaaaaaaaaaaaaay overbrought at this point is not as appealing. Could still work it's way higher, but I'm up almost 25% on it, and it never hurts to take profit in my opinion.
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