Hagerty, Inc. provides insurance agency services worldwide. It offers collector vehicles, motorsports, boats, and business insurance products; and car financing for antique, classic, and collectible vehicles. The company is based in Traverse City, Michigan.
IPO Year: 2021
Exchange: NYSE
Website: https://www.hagerty.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/26/2024 | Mkt Perform → Underperform | Raymond James | |
| 1/11/2024 | $9.00 | Neutral | JP Morgan |
| 6/16/2023 | $11.00 | Hold | Truist |
| 10/20/2022 | Mkt Perform | Raymond James |
Full year 2024 Total Revenue increased 20% year-over-year to $1.200 billionFull year 2024 Written Premium increased 15% year-over-year to $1.044 billionAdded a record 279,000 new members in 2024Full year 2024 Marketplace revenue increased 90% year-over-year to $54.3 millionFull year 2024 Operating Income increased 538% year-over-year to $66.4 millionFull year 2024 Net Income increased 178% year-over-year to $78.3 millionFull year 2024 Adjusted EBITDA increased 41% year-over-year to $124.5 million2025 outlook for Total Revenue growth of 12-13% on Written Premium gains of 13-14%Margin expansion due to continued efficiency gains should result in Net Income growth of 30-40% and Adjusted EBITDA g
TRAVERSE CITY, Mich., Feb. 18, 2025 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced it will report its fourth quarter 2024 financial results before the market opens on Tuesday, March 4, 2025. Hagerty will hold a conference call to discuss the financial results at 10:00 am Eastern Time on that day. A live webcast of the conference call will be available on Hagerty's investor relations website at investor.hagerty.com. The dial-in for the conference call is (877) 423-9813 (toll-free) or
Third quarter 2024 Total Revenue increased 17% year-over-year to $323.4 million, and year-to-date 2024 Total Revenue increased 20% year-over-year to $908.3 millionThird quarter 2024 Written Premium increased 13% year-over-year to $287.6 million, and year-to-date 2024 Written Premium increased 16% year-over-year to $827.1 millionThird quarter 2024 Marketplace revenue increased 66% year-over-year to $21.6 million, and year-to-date 2024 Marketplace revenue increased 54% year-over-year to $38.3 millionThird quarter 2024 Loss Ratio of 60.0% (includes $24.7 million of pre-tax catastrophe losses related to Hurricane Helene) compared to 41.1% in the prior year period. Year-to-date 2024 Loss Ratio of
TRAVERSE CITY, Mich., Oct. 24, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced it will report its third quarter 2024 financial results before the market opens on Thursday, November 7, 2024. Hagerty will hold a conference call to discuss the financial results at 10:00 am Eastern Time on that day. A live webcast of the conference call will be available on Hagerty's investor relations website at investor.hagerty.com. The dial-in for the conference call is (877) 423-9813 (toll-free)
Increases 2024 Outlook for Revenue and Profit Growth Second quarter 2024 Total Revenue increased 20% year-over-year to $313.2 million, and year-to-date 2024 Total Revenue increased 22% year-over-year to $584.9 millionSecond quarter 2024 Written Premium increased 16% year-over-year to $321.2 million, and year-to-date 2024 Written Premium increased 18% year-over-year to $539.5 millionSecond quarter 2024 Operating Income margin expanded by 560 bps compared to the prior year period, and year-to-date 2024 Operating Income margin expanded by 840 bps compared to the prior year periodSecond quarter 2024 Net Income of $42.7 million, an increase of $27.1 million compared to the prior year period, and
TRAVERSE CITY, Mich., July 23, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced it will report its second quarter 2024 financial results before the market opens on Tuesday, August 6, 2024. Hagerty will hold a conference call to discuss the financial results at 10:00 am Eastern Time on that day. A live webcast of the conference call will be available on Hagerty's investor relations website at investor.hagerty.com. The dial-in for the conference call is (877) 423-9813 (toll-free) or
First quarter 2024 Total Revenue increased 24% year-over-year to $271.7 millionFirst quarter 2024 Written Premium increased 19% year-over-year to $218.3 millionFirst quarter 2024 Operating Income margin expanded by 1,210 bps compared to the prior year periodFirst quarter 2024 Net Income of $8.2 million, an increase of $23.2 million compared to the prior year periodFirst quarter 2024 Adjusted EBITDA (a non-GAAP measure) of $27.3 million, an increase of $20.6 million compared to the prior year periodDelivered Policies in Force Retention of 88.7% and achieved insurance Net Promoter Score of 82Reaffirmed 2024 Outlook for 15-17% Total Revenue growth, 116-148% Net Income growth and 41-53% Adjusted
TRAVERSE CITY, Mich., April 23, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced it will report its first quarter 2024 financial results before the market opens on Tuesday, May 7, 2024. Hagerty will hold a conference call to discuss the financial results at 10:00 am Eastern Time on that day. A live webcast of the conference call will be available on Hagerty's investor relations website at investor.hagerty.com. The dial-in for the conference call is (877) 423-9813 (toll-free) or (2
Fourth quarter 2023 Total Revenue increased 24% to $245.0 million, and full year 2023 Total Revenue increased 27% to $1.0 billion compared to the prior year periods.Fourth quarter 2023 Written Premium increased 19% to $192.9 million, and full year 2023 Written Premium increased 17% to $907.2 million compared to the prior year periods.Fourth quarter 2023 operating margin expanded by 1550 bps and full year 2023 operating margin increased by 960 bps compared to the prior year periods.Fourth quarter 2023 Net Income of $9.0 million, an increase of $41.3 million, and full year 2023 Net Income of $28.2 million, an increase of $25.8 million compared to the prior year periods.Fourth quarter 2023 Adju
TRAVERSE CITY, Mich., Feb. 27, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and a leading specialty insurance provider, today announced it will report its fourth quarter 2023 financial results before the market opens on Tuesday, March 12, 2024. Hagerty will hold a conference call to discuss the financial results at 10:00 am Eastern Time on that day. A live webcast of the conference call will be available on Hagerty's investor relations website at investor.hagerty.com. The dial-in for the conference call is (877) 423-9813 (toll-free) or (201) 6
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Raymond James downgraded Hagerty from Mkt Perform to Underperform
JP Morgan initiated coverage of Hagerty with a rating of Neutral and set a new price target of $9.00
Truist initiated coverage of Hagerty with a rating of Hold and set a new price target of $11.00
Raymond James initiated coverage of Hagerty with a rating of Mkt Perform
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144 - Hagerty, Inc. (0001840776) (Subject)
Grosse Pointe, Michigan, April 14, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, has released the complete digital catalog for its second annual Porsche Auction, set for April 26, 2025, in partnership with the Air|Water happening at the Orange County Fairgrounds. The catalog counts 55 Porsche collector cars alongside 20 lots of hard-to-find Porsche memorabilia and one half-scale Dakar Junior child's car. The Air|Water Auction presents Porsche enthusiasts with the opportunity to bring home supremely collectible Porsche examples worthy of any serious collection, with final featured entries led by rare and desirable modern open-top Porsche performance cars, inc
Grosse Pointe, Michigan, April 09, 2025 (GLOBE NEWSWIRE) -- 1989 RUF CTR Yellowbird highlights latest consignments for Broad Arrow's second annual Porsche Auction at the popular Air|Water happeningYellowbird leads exceptional list of Porsche performance and racing cars set for April 26 auction in Costa Mesa, CaliforniaFurther highlights include a 1966 Porsche 906, 1990 Porsche 911 Reimagined by Singer, 1994 Porsche 911 Turbo 3.6 X88, 2012 RUF Rt 12 S with factory-fitted R-spec engine, and moreBidder registration and additional information on all lots updated daily at broadarrowauctions.com Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, has announced an exceedingly rare 1989 RUF
London, United Kingdom, April 03, 2025 (GLOBE NEWSWIRE) -- BMW-only sale on 24 May celebrates history of BMW as hosts of revered ConcorsoBroad Arrow is the official auction partner of the Concorso d'Eleganza Villa d'Este, with sale set for 24-25 May at Villa Erba, Italy70 of the world's finest automobiles will feature across the two-day auction Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, continues to add exceptional collector cars to the offering for its inaugural year as the official auction partner of the prestigious Concorso d'Eleganza Villa d'Este. Today, Broad Arrow is delighted to announce that a significant BMW-only sale will feature as part of its two-day Concors
London, United Kingdom, March 25, 2025 (GLOBE NEWSWIRE) -- Sale also features 1936 Fiat 570 Bertone Barchetta, the first car created by famous designer, Nuccio BertoneTarga Florio "giant-killer," 1966 Fiat Abarth OT 1300 and Elva BMW Mk 8 which competed in Road America 500 also on offerBroad Arrow Concorso d'Eleganza Villa d'Este Auction takes place 24-25 May at Villa Erba Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, will present a number of historically significant motorsport models at its inaugural Concorso d'Eleganza Villa d'Este Auction on 24-25 May 2025. Broad Arrow Auctions has partnered with BMW AG to become the official auction partner of the Concorso d'Eleganza V
The Amelia's 30th Annual Celebration Saw a Weekend of Fine Dining, Driving Experiences, Live Auctions, and the Amelia Concours D'Elegance—Showcasing Hundreds of Exquisite Vehicles from Around the World AMELIA ISLAND, Fla., March 12, 2025 /PRNewswire/ -- Among a distinguished field of more than 240 historically significant automobiles, spanning 35 classes, a 1938 Alfa Romeo 8C 2900 claimed the prestigious title of Best of Show, Concours d'Elegance, while a 1967 Lotus 49 was honored as Best of Show, Concours de Sport at the 30th Amelia Concours d'Elegance. Event press releases, concours results, photos and the event program can be found here.
Grosse Pointe, Michigan, March 10, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, saw great success with its third annual Amelia Auction on Friday, March 7 and Saturday, March 8—the official auction of The Amelia Concours d'Elegance. The auction achieved $61.7 million in total sales, with 88 percent of all lots sold. A well-attended preview in the ballroom and on the ocean-front lawn of the Ritz-Carlton Amelia Island translated to standing-room-only across both auction days. The energy was palpable throughout the auction, with Lydia Fenet, Broad Arrow's Principal Auctioneer, moderating spirited bidding battles on Friday and Saturday. Bidder registration was t
Full year 2024 Total Revenue increased 20% year-over-year to $1.200 billionFull year 2024 Written Premium increased 15% year-over-year to $1.044 billionAdded a record 279,000 new members in 2024Full year 2024 Marketplace revenue increased 90% year-over-year to $54.3 millionFull year 2024 Operating Income increased 538% year-over-year to $66.4 millionFull year 2024 Net Income increased 178% year-over-year to $78.3 millionFull year 2024 Adjusted EBITDA increased 41% year-over-year to $124.5 million2025 outlook for Total Revenue growth of 12-13% on Written Premium gains of 13-14%Margin expansion due to continued efficiency gains should result in Net Income growth of 30-40% and Adjusted EBITDA g
Grosse Pointe, Michigan, March 03, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, has released a video of the revered 1959 Ferrari 250 GT LWB California Spider Competizione, chassis no. 1451 GT, at speed ahead of its offering at the Amelia Auction later this week. The short film features Broad Arrow Senior Car Specialist and Vice-President of Auctions, Barney Ruprecht, walking through the finer competition history and features of the car before he jumps behind the wheel, providing driving impressions of the Competizione variant over a standard California Spider. Estimated at $10,000,000 - $14,000,000, the Ferrari is the undisputed feature car of Broad Arrow's
TRAVERSE CITY, Mich., Feb. 18, 2025 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced it will report its fourth quarter 2024 financial results before the market opens on Tuesday, March 4, 2025. Hagerty will hold a conference call to discuss the financial results at 10:00 am Eastern Time on that day. A live webcast of the conference call will be available on Hagerty's investor relations website at investor.hagerty.com. The dial-in for the conference call is (877) 423-9813 (toll-free) or
Grosse Pointe, Michigan, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty company (NYSE:HGTY), kicked off its 2025 auction calendar with the highly successful presentation of The Academy of Art University Collection Auction this past Saturday, February 15, at the University's Museum facilities in San Francisco. The Auction saw 105 of the collector car hobby's most desirable pre- and post-War classics sell under the Broad Arrow gavel—entirely without reserve—achieving $14.5 million in total sales before a packed auction room, in addition to hundreds of bidders both online and on the phones. Thomas Forrester, Broad Arrow's Auctioneer for Europe, presided over the sale, whi
The Amelia's 30th Annual Celebration Saw a Weekend of Fine Dining, Driving Experiences, Live Auctions, and the Amelia Concours D'Elegance—Showcasing Hundreds of Exquisite Vehicles from Around the World AMELIA ISLAND, Fla., March 12, 2025 /PRNewswire/ -- Among a distinguished field of more than 240 historically significant automobiles, spanning 35 classes, a 1938 Alfa Romeo 8C 2900 claimed the prestigious title of Best of Show, Concours d'Elegance, while a 1967 Lotus 49 was honored as Best of Show, Concours de Sport at the 30th Amelia Concours d'Elegance. Event press releases, concours results, photos and the event program can be found here.
London, United Kingdom, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Broad Arrow, a Hagerty (NYSE:HGTY) company, is delighted to announce the expansion of its European and UK-based teams with the addition of renowned car specialists along with seasoned industry veterans focused on operations, client development, and marketing. Growing the company's specialist footprint throughout Continental Europe are Philip Kantor (based in Belgium), Gregory Tuytens (Belgium), Paul Gaucher (France), Daniele Turrisi (Italy), and Jean-Louis Baldanza (France), each well-regarded and highly experienced in the collector car industry. Furthermore, Valérie Simonet (France), Ryan Cigana (UK), and Simon Drake (UK) will join
TRAVERSE CITY, Mich., May 31, 2024 /PRNewswire/ -- Hagerty (NYSE:HGTY) announced today that Jeff Briglia has been named Hagerty's new President of Insurance, effective July 1, 2024, to lead all aspects of the company's insurance operations. "I am pleased to welcome Jeff to the Hagerty team as we continue to position the company for sustained profit growth," said McKeel Hagerty, Chief Executive Officer and Chairman of Hagerty. "Jeff has a proven track record of strategic change management across a variety of business areas, including product, claims, distribution, marketing, sa
TRAVERSE CITY, Mich., Jan. 18, 2024 /PRNewswire/ -- Hagerty, Inc., (NYSE:HGTY) an automotive enthusiast brand and leading specialty vehicle insurance provider, has named Arjun H. Chowdri as its new Senior Vice President of Membership and Retention. Arjun will lead the company's global membership programs, including the Hagerty Driver's Club, the world's largest paid car club with more than 800,000 members. Additionally, Arjun will lead Hagerty's Garage and Social business, a portfolio of five premium car storage and clubhouse locations across the US and Canada. Prior to joining Hagerty, Arjun was Chief Administrative and Innovation Officer for the PGA of America.
TRAVERSE CITY, Mich., Dec. 4, 2023 /PRNewswire/ -- Hagerty, Inc., (NYSE:HGTY) an automotive enthusiast brand and leading specialty vehicle insurance provider, has named Gary Chard as its new Senior Vice President of Marketplace Operations. Chard will join the senior leadership team of Marketplace, Hagerty's growing business to support members and enthusiasts who are buying and selling collector cars. He will oversee all aspects of Marketplace operations, including live and digital auctions, private sales, financing and classifieds. "Gary is an industry pro who will help us tak