Hagerty Inc

HGTY · NYSE · Financial Services / Insurance - Property & Casualty

16.17USD+0.37 (+2.34%)

Price History

Full chart

Market Stats

Previous Close15.80

Open15.87

Day Range15.82 – 16.37

52-Week Range9.36 – 14.17

Volume1.33M

Market Cap4.67B

P/E (TTM)104.46

Forward P/E24.04

EPS0.13

Dividend Yield0.00%

Beta0.81

50-Day Avg12.87

200-Day Avg11.82

About

Hagerty, Inc. provides insurance services for collector cars and enthusiast vehicles in the United States, Canada, and the United Kingdom. It operates through Insurance and Marketplace segments. The company operates as a managing general agent that underwrites, sells, and services collector car and enthusiast vehicle insurance policies. It also provides Hagerty Drivers Club memberships, which are bundled with insurance policies and give subscribers access to an array of products and services, such as emergency roadside assistance, the Hagerty Drivers Club magazine, special access to automotive enthusiast events, a proprietary vehicle valuation tool, and special vehicle-related discounts; and reinsurance services. In addition, the company offers marketplace services comprising live auctions, online sale platforms, and brokered private sales services where automotive collectors and enthusiasts can buy, sell, and finance collector cars. The company was founded in 1984 and is headquartered in Traverse City, Michigan. Hagerty, Inc. is a subsidiary of Hagerty Holding Corp.

Company Details

SectorFinancial Services
IndustryInsurance - Property & Casualty
CEOMr. McKeel O. Hagerty
Employees1.89K
Headquarters121 Drivers Edge, Traverse City, MI, United States, 49684-4203, USA
Websitehttps://www.hagerty.com

Leadership

Mr. McKeel O. HagertyChairman & CEO · b. 1967
Mr. Patrick Scott McClymontChief Financial Officer · b. 1970
Mr. Russell PageChief Information Officer · b. 1971
Mr. Kenneth H. AhnPresident of Marketplace & Radius · b. 1978
Mr. Jeffrey Edward BrigliaPresident of Insurance · b. 1971
Mr. Kevin Michael DelaneyChief Accounting Officer & Corporate Controller · b. 1973
Ms. Collette ChampagneChief Human Resources Officer & Administrative Officer · b. 1970
Mr. Jason KovalSenior Vice President of Investor Relations & Communications
Ms. Diana Marie ChafeyChief Legal Officer & Corporate Secretary · b. 1969
Mr. Marc BurnsChief Marketing Officer

Financials

Income Statement

Currency: USD	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Revenue	301.70M	397.27M	499.55M	576.54M	829.49M	1.01B	1.19B	1.46B
Growth (%)	-	+31.68%	+25.74%	+15.41%	+43.87%	+21.97%	+17.76%	+22.23%
Cost of Revenue	137.97M	178.69M	91.03M	263.06M	373.55M	220.66M	298.59M	285.39M
Gross Profit	301.70M	397.27M	408.52M	313.48M	455.94M	791.10M	892.90M	1.17B
Gross Margin	100.00%	100.00%	81.78%	54.37%	54.97%	78.19%	74.94%	80.40%
Operating Expense	293.09M	386.43M	393.66M	368.08M	444.84M	746.33M	799.22M	1.03B
Operating Income	8.61M	10.85M	14.86M	-54.60M	11.10M	44.77M	93.68M	139.18M
Operating Margin	2.85%	2.73%	2.97%	-9.47%	1.34%	4.43%	7.86%	9.56%
EBITDA	16.37M	19.80M	26.66M	-32.46M	44.98M	90.58M	132.59M	176.71M
EBITDA Margin	5.43%	4.98%	5.34%	-5.63%	5.42%	8.95%	11.13%	12.13%
Net Income	8.47M	4.21M	10.17M	-46.36M	32.08M	20.23M	17.02M	49.02M
Net Income Margin	2.81%	1.06%	2.04%	-8.04%	3.87%	2.00%	1.43%	3.37%
R&D	-	3.51M	-	-	-	-	-	-
R&D as % of Total Revenue	-	0.88%	-	-	-	-	-	-
Interest Expense	0	607.95K	859.52K	1.99M	2.03M	4.08M	35.81M	8.70M
Interest Expense % of Total Revenue	0.00%	0.15%	0.17%	0.35%	0.24%	0.40%	3.01%	0.60%

Balance Sheet

Currency: USD	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Assets	-	443.28M	597.48M	1.02B	1.29B	1.56B	1.67B	2.07B
Total Liabilities	-	332.82M	480.16M	752.58M	920.51M	1.06B	1.19B	1.32B
Total Equity	-	110.46M	117.20M	-323.78M	59.25M	175.54M	234.99M	307.93M
Cash	-	21.81M	299.08M	603.97M	539.19M	724.28M	232.84M	299.00M
Total Debt	-	52.20M	69.00M	126.43M	277.38M	238.10M	198.04M	232.57M
Net Debt	-	30.39M	-230.08M	-477.54M	-261.81M	-486.18M	-34.81M	-66.43M

Cash Flow

Currency: USD	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Operating Cash Flow	46.15M	50.09M	84.57M	42.28M	55.33M	144.95M	177.02M	218.99M
Investing Cash Flow	-8.39M	-21.06M	-47.39M	-68.99M	-91.52M	-51.87M	-618.56M	-185.20M
Financing Cash Flow	12.23M	40.09M	39.95M	332.07M	-28.08M	91.14M	-46.92M	29.93M
Capital Expenditure	7.89M	9.40M	38.26M	43.37M	44.38M	26.40M	21.34M	24.54M
Free Cash Flow	38.26M	40.69M	46.32M	-1.09M	10.95M	118.55M	155.68M	194.45M
Dividends Paid	4.00M	4.00M	4.00M	4.06M	0	24.00M	5.60M	5.60M
FCF to OCF	82.90%	81.23%	54.76%	-2.58%	19.80%	81.78%	87.94%	88.80%
Dividend Paid to FCF	10.46%	9.83%	8.64%	-372.45%	0.00%	20.25%	3.60%	2.88%

Earnings

Report Date	Mar 31, 2020	Jun 30, 2020	Sep 30, 2020	Mar 31, 2021	May 13, 2021	Aug 10, 2021	Nov 12, 2021	Mar 24, 2022	May 9, 2022	Aug 10, 2022	Nov 10, 2022	Mar 14, 2023	May 9, 2023	Aug 8, 2023	Nov 8, 2023	Mar 12, 2024	May 7, 2024	Aug 6, 2024	Nov 7, 2024	Mar 10, 2025	May 7, 2025	Aug 4, 2025	Nov 4, 2025	Feb 26, 2026	May 6, 2026	Aug 5, 2026	Nov 3, 2026
EPS Estimate	0.00	0.00	0.00	0.00	0.00	-	-	-	-	-0.02	0.07	-0.08	-0.04	0.04	0.03	-0.02	0.03	0.08	0.08	0.01	0.02	0.11	0.08	0.04	0.01	-0.08	0.01
EPS Actual	53.57	53.57	110.21	28.94	28.94	-0.11	-0.60	-0.15	0.08	-0.02	-0.06	-0.06	-0.04	0.05	0.05	0.03	0.04	0.12	0.05	0.02	0.08	0.13	0.13	0.08	-0.04	-0.02	-
Surprise	-	-	-	-	-	-	-	-	-	0.00%	-185.71%	25.00%	0.00%	25.00%	66.67%	250.00%	33.33%	50.00%	-37.50%	194.12%	300.00%	18.18%	62.50%	100.00%	-500.00%	75.00%	-
Timing	-	-	-	-	-	-	-	After-hours	After-hours	After-hours	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	-	Pre-market	Pre-market	-

Key Statistics & Ratios

Market Cap4.67B

Enterprise Value1.44B

Trailing P/E104.46

Forward P/E24.04

PEG Ratio0.26

Price / Sales3.30

Price / Book7.08

EPS0.13

Book Value2.12

Revenue (TTM)1.42B

Gross Profit (TTM)804.13M

EBITDA228.12M

Profit Margin1.25%

Operating Margin18.38%

Return on Equity8.92%

Return on Assets5.66%

Shares Outstanding111.32M

Shares Float47.57M

Beta0.81

Dividend Yield0.00%

Dividend Rate0.00

Payout Ratio0.00%

Analyst Ratings

Hold

Based on 3 analystsTarget 14.50

Hold
2
Sell
1

Ownership Breakdown

Institutions: 99.54%
Insiders: 4.03%
Retail / Other: 0.00%

Top Institutional Holders

State Farm Mutual Automobile Ins Co
51.80M50.75%
Neuberger Berman Group LLC
8.72M8.54%
Polar Capital Holdings PLC
6.00M5.88%
T. Rowe Price Investment Management,Inc.
5.64M5.53%
Pembroke Management Ltd
3.41M3.34%
Markel Group Inc
3.11M3.04%
Greenhaven Road Investment Management, L.P.
2.37M2.32%
Vanguard Capital Management, LLC
1.87M1.83%
Vanguard Portfolio Management, LLC
1.63M1.60%
Lincoln Capital LLC
973.65K0.95%
BlackRock Inc
690.09K0.68%

Top Fund Holders

Polar Capital Global Ins A Inc
6.00M5.96%
Neuberger Genesis Inv
5.18M5.14%
Vanguard MStar Total Stk Mkt Idx Invest
1.45M1.44%
T. Rowe Price Small-Cap Value
1.40M1.39%
T. Rowe Price Small-Cap Stock
1.32M1.31%
Vanguard Small Cap Index
1.05M1.05%
T. Rowe Price Instl Small-Cap Stock
692.51K0.69%
Vanguard MStar Small Cap Growth Indx Inv
601.68K0.60%
T. Rowe Price US Smlr Coms Eq A
578.49K0.57%