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 |
|---|---|---|---|
| 1/11/2024 | $9.00 | Neutral | JP Morgan |
| 6/16/2023 | $11.00 | Hold | Truist |
| 10/20/2022 | Mkt Perform | Raymond James |
TRAVERSE CITY, Mich., Nov. 11, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and leading specialty vehicle insurance provider, announced today a new docuseries, Back on Track, following actor Patrick Dempsey's return to racing. Produced in collaboration with the Mobil 1 team, Back on Track is a four-part series that features "behind-the-scenes" access as Dempsey seeks to conquer the Porsche Endurance Challenge North America, master his Porsche 718 Cayman GT4 RS Clubsport and foster the necessary team spirit to thrive and win. Back on Track is s
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)
Grosse Pointe, Michigan, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, hosted a successful inaugural Chattanooga Auction this past Saturday, October 12, with sales totaling *$12,265,520 and **82 percent of all lots sold. Held in partnership with the Chattanooga Motorcar Festival, the preview and auction at the Chattanooga Convention Center were very well attended and drew bidders from 10 countries and 33 states across the U.S. More than 50 percent of bidders represented first-time Broad Arrow clientele. Top sellers at the Chattanooga Auction were led by the exceedingly rare "missing link" in the Carrera RS lineup, a 1984 Porsche 911 SC RS Gruppe B
Grosse Pointe, Michigan, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, has released the complete digital catalog for its upcoming inaugural Chattanooga Auction, set for October 12, 2024 at the Chattanooga Convention Center in Tennessee. With more than 90 collector cars on offer at the single-day sale, the auction presents standout models from nearly every collecting category, from American and European classics of the 1950s to sought-after modern supercars. Final consignments for the Chattanooga Auction include a wide selection of some of the most desirable, high-powered next-generation collector cars from the 1980s through today, led by an iconic
Grosse Pointe, Michigan, Sept. 24, 2024 (GLOBE NEWSWIRE) -- WATCH VIDEO HOSTED BY BROAD ARROW SPECIALIST, RAY SHAFFER Broad Arrow Auctions, a Hagerty (NYSE:HGTY) company, is delighted to release a video profiling the veritable "missing link" in any distinguished collection of Porsche Carrera RS models – the Porsche 911 SC RS Gruppe B "Evolutionsserie". Set to headline Broad Arrow's inaugural Chattanooga Auction on October 12 in partnership with the Chattanooga Motorcar Festival, the 1984 Porsche 911 SC RS Gruppe B "Evolutionsserie", chassis no. 021 (Est. $2,600,000 - $3,500,000), features in the video hosted by Broad Arrow Car Specialist, Ambassador, and Porsche expert, Ray Shaffer. Mu
Grosse Pointe, Michigan, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Broad Arrow Auctions is delighted to announce additional featured consignments for its inaugural Chattanooga Auction, set for October 12 in partnership with the 2024 Chattanooga Motorcar Festival. Recent consignments for the single-day sale are perfectly matched to the Festival's appeal to both the vintage car collector and racing enthusiast. They are led by a rare 2022 Ford GT Alan Mann Heritage Edition (Est. $1,200,000 - $1,500,000). One of only 30 special edition examples paying tribute to Alan Mann Racing's lightweight 1966 Ford GT experimental race cars, the GT represents an unrepeatable opportunity to acquire Ford's 21st-c
Renewed partnership enables Hagerty to continue bringing unmatched customer-focused experiences to Drivers Club members Agero, the leading white-label provider of digital driver assistance services and software for the majority of automotive and auto insurance companies, today announced it has renewed its multi-year partnership with Hagerty (NYSE:HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider. With this agreement, Agero will continue providing unparalleled roadside assistance services to Hagerty clients and Hagerty Drivers Club members across the U.S. "For our more than 770,500 U.S. members, cars are more than just a mode of transportation; they r
TRAVERSE CITY, Mich., Aug. 30, 2024 /PRNewswire/ -- Hagerty is thrilled to announce the return of an expanded, festival experience at RADwood Detroit – the ultimate '80s and '90s car and music festival – set against the backdrop of the iconic city of Detroit on Saturday, September 14 (11:30 a.m. – 4:00 p.m.) in Hart Plaza. Mobil 1 Totally RAD LiveRADwood, the original automotive lifestyle event celebrating the '80s and '90s, blends period correct dress with the automotive awesomeness of cars, trucks and bikes from 1980-1999. Attendees wear their best '80s and '90s clothing and bring f
Live Webcast Available TRAVERSE CITY, Mich., Aug. 29, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced it will present at the KBW Insurance Conference at 4:35 p.m. ET on Thursday, September 5, 2024. Hagerty's CEO and Chairman McKeel Hagerty and CFO Patrick McClymont will participate in a fireside chat covering a variety of industry and company-specific topics. The live presentation will be available https://wsw.com/webcast/kbw109/hgty/1755336. Please go to the website at least 15
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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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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
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
TRAVERSE CITY, Mich., Oct. 11, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE:HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced it will report its third quarter 2023 financial results before the market opens on Wednesday, November 8, 2023. 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 con
Second quarter 2023 Total Revenue increased 27% to $261.2 million compared to the prior year period and year-to-date 2023 Total Revenue increased 28% to $479.6 million compared to the prior year periodSecond quarter 2023 Written Premium increased 16% year-over-year to $275.9 million, and year-to-date 2023 Written Premium increased 17% to $458.7 million compared to the prior year periodSecond quarter 2023 Membership, marketplace and other revenue increased 44% year-over-year to $23.6 million, and year-to-date 2023 Membership, marketplace and other revenue increased 53% to $50.1 million compared to the prior year periodSecond quarter 2023 Net Income (Loss) increased 380% to $15.5 million compa
JP Morgan analyst Pablo Singzon maintains Hagerty (NYSE:HGTY) with a Neutral and raises the price target from $9.5 to $11.
As of June 10, 2024, five stocks in the financial sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. UP Fintech Holding Ltd (NASDAQ:TIGR) On June 5, UP Fintech Holding reported a year-over-year i
Hagerty (NYSE:HGTY) reported quarterly earnings of $0.04 per share which missed the analyst consensus estimate of $0.09 by 55.56 percent. This is a 200 percent increase over losses of $(0.04) per share from the same period last year. The company reported quarterly sales of $271.708 million which beat the analyst consensus estimate of $264.168 million by 2.85 percent. This is a 24.44 percent increase over sales of $218.352 million the same period last year.
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Hagerty (NYSE:HGTY) is set to give its latest quarterly earnings report on Tuesday, 2024-03-12. Here's what investors need to know before the announcement. Analysts estimate that Hagerty will report an earnings per share (EPS) of $-0.02. Hagerty bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Historical Earnings Performance Last quarter the company missed EPS by $0.01, which was followed by a 0.35% increase in the share price th
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JP Morgan analyst Pablo Singzon initiates coverage on Hagerty (NYSE:HGTY) with a Neutral rating and announces Price Target of $9.