Hagerty (NYSE:HGTY) Issues Quarterly Earnings Results

Hagerty (NYSE:HGTY) announced its quarterly earnings results on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09, Zacks reports. The firm had revenue of $354.24 million during the quarter, compared to analyst estimates of $338.99 million. Hagerty had a return on equity of 5.15% and a net margin of 1.81%.

Here are the key takeaways from Hagerty’s conference call:

• Strong growth and raised 2026 outlook: Written premiums increased 18% year to date, with 402,000 new members added, while adjusted EBITDA rose 43% to $257 million. Hagerty raised its full-year adjusted EBITDA outlook to $305 million–$315 million and GAAP net income outlook to $48 million–$60 million.
• Improved underwriting performance: Hagerty Re’s nine-month combined ratio was 85.2%, benefiting from $32 million in lower estimated losses, including favorable current-year physical damage and liability claims. Management cited expanded claims capabilities, lower industry frequency, and effective fraud prevention as contributors.
• Expansion opportunities remain substantial: The State Farm Classic+ rollout reached 41 states, with conversion of its 525,000-policy classic book progressing as planned. Hagerty also closed its Bennetts motorcycle insurance acquisition in the U.K. and continues to target 3 million policies in force by 2030.
• Operating leverage and liquidity improved: Nine-month operating cash flow rose 48% to $280 million, and service-center productivity improved 20% year over year through automation and AI-assisted workflows. Hagerty ended the quarter with $461 million in unrestricted cash and $247 million of debt.
• Some earnings tailwinds may not recur: The 2026 results include a $52 million adjusted EBITDA benefit from capitalizing MGA acquisition costs, which management said is largely complete and will not repeat in 2027. Executives also cautioned that the sharp rise in high-end collector-car prices and marketplace results could cool, making current auction performance difficult to sustain.

Hagerty Stock Performance

Hagerty stock traded up $1.29 during mid-day trading on Wednesday, hitting $18.32. The company had a trading volume of 328,240 shares, compared to its average volume of 229,647. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 202.50 and a beta of 0.83. Hagerty has a 12-month low of $9.36 and a 12-month high of $18.14. The company’s fifty day moving average is $14.26 and its 200-day moving average is $12.10. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HGTY shares. Oppenheimer reissued an “outperform” rating and set a $20.00 price target on shares of Hagerty in a research report on Tuesday. Citizens Jmp boosted their target price on shares of Hagerty from $15.00 to $19.00 and gave the stock a “market outperform” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on Hagerty from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday. Zacks Research downgraded shares of Hagerty from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.43.

More Hagerty News

Here are the key news stories impacting Hagerty this week:

• Positive Sentiment: Hagerty reported Q3 EPS of $0.10, above the $0.01 consensus, and revenue of $354.24 million, topping estimates of $338.99 million. The company also raised its 2026 net income outlook to $48–$60 million and adjusted EBITDA outlook to $305–$315 million. Hagerty Q3 results and outlook
• Positive Sentiment: Operating indicators were strong: year-to-date written premiums grew 18% to $1.099 billion, Hagerty added 402,000 members, and adjusted EBITDA rose 43% to $257 million. More than 60% of new insurance quotes came from younger buyers, a potential source of future growth. Hagerty: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Citizens JMP raised its price target to $19 from $15 and reiterated a “market outperform” rating, signaling further potential upside in its view. Citizens JMP rating
• Positive Sentiment: Broad Arrow, Hagerty’s auction business, recorded a $92.8 million Las Vegas sale, its highest-grossing auction in the city, with several collector-car record prices. This offers a favorable signal for collector-car demand, though auction totals are not equivalent to Hagerty revenue. Broad Arrow Las Vegas auction results
• Neutral Sentiment: Wells Fargo lifted its target to $17 from $14 but maintained an “equal weight” rating, contrasting with Citizens JMP’s more bullish view. Wells Fargo rating
• Negative Sentiment: Despite beating estimates, Q3 adjusted EPS was down from $0.13 a year earlier, and reported revenue declined year over year amid the previously disclosed Markel fronting transition. Net income was also weighed down by $189 million in year-to-date pre-tax transition costs, making reported results look weaker than adjusted operating measures. Hagerty Q3 adjusted earnings rise, revenue falls

Insider Activity at Hagerty

In related news, major shareholder Holding Corp. Hagerty sold 1,387,500 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $11.47, for a total value of $15,914,625.00. Following the transaction, the insider directly owned 9,250,000 shares of the company’s stock, valued at approximately $106,097,500. This trade represents a 13.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by company insiders.

About Hagerty

Hagerty, Inc is an automotive lifestyle and insurance company focused on enthusiasts and owners of classic, collector and specialty vehicles. The company provides insurance brokerage and related services designed for collector vehicles, with coverage generally underwritten by third-party insurance carriers.

In addition to insurance, Hagerty offers vehicle valuation and pricing information, membership programs, editorial content, events and enthusiast-focused digital services. Its offerings include Hagerty Drivers Club, Hagerty Valuations and Hagerty Marketplace, which connects buyers and sellers of collectible vehicles.