Hagerty (NYSE:HGTY) Releases Earnings Results, Beats Estimates By $0.09 EPS

Hagerty (NYSE:HGTY) posted its quarterly earnings data on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09, Zacks reports. The firm had revenue of $354.24 million during the quarter, compared to analysts’ expectations of $338.99 million. Hagerty had a return on equity of 6.31% and a net margin of 1.08%.

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 Trading Down 0.4%

Shares of HGTY traded down $0.08 during trading hours on Thursday, hitting $18.63. The company had a trading volume of 273,017 shares, compared to its average volume of 232,702. Hagerty has a 52-week low of $9.36 and a 52-week high of $19.41. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $14.36 and its 200 day moving average price is $12.13. The firm has a market cap of $6.40 billion, a P/E ratio of 312.05 and a beta of 0.83.

Insiders Place Their Bets

In related news, major shareholder Holding Corp. Hagerty sold 1,387,500 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $11.47, for a total transaction of $15,914,625.00. Following the transaction, the insider directly owned 9,250,000 shares in the company, valued at $106,097,500. This trade represents a 13.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on HGTY shares. Oppenheimer restated an “outperform” rating and issued a $20.00 target price on shares of Hagerty in a research report on Tuesday. Citizens Jmp increased their price target on shares of Hagerty from $15.00 to $19.00 and gave the company a “market outperform” rating in a research report on Wednesday. Weiss Ratings upgraded shares of Hagerty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Zacks Research downgraded shares of Hagerty from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.43.

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.