Hagerty Inc   (HGTY)
Other Ticker:  
    Sector  Financial    Industry Insurance Brokerage
   Industry Insurance Brokerage
   Sector  Financial
Price: $8.7200 $0.29 3.440%
Day's High: $8.75 Week Perf: 4.68 %
Day's Low: $ 8.43 30 Day Perf: 8.46 %
Volume (M): 86 52 Wk High: $ 10.36
Volume (M$): $ 747 52 Wk Avg: $8.61
Open: $8.43 52 Wk Low: $7.52

 Market Capitalization (Millions $) 6,952
 Shares Outstanding (Millions) 797
 Employees 1,300
 Revenues (TTM) (Millions $) 952
 Net Income (TTM) (Millions $) -13
 Cash Flow (TTM) (Millions $) 146
 Capital Exp. (TTM) (Millions $) 22

Hagerty Inc
Hagerty Inc. is a car insurance company that specializes in classic vehicles. The company was founded in 1984 by Frank Hagerty and his wife Louise, who were classic car enthusiasts themselves. Today, Hagerty is one of the largest and most respected classic car insurers in the world, with over5 million insured vehicles and more than 1,200 employees globally.

Hagerty's headquarters are in Traverse City, Michigan, but they have offices in Canada, the UK, and Germany, as well as affiliates in Australia, New Zealand, and Italy. The company offers a wide range of insurance products for classic cars, boats, motorcycles, and other classic and collector vehicles. They also provide a variety of related services to help classic car owners preserve and enjoy their vehicles, including valuation tools, car-buying advice, and event sponsorships.

One of Hagerty's unique features is their einsured agreed valuee coverage, which means that they will pay out the full value of a customer's insured vehicle in the event of a total loss, without any depreciation. This is particularly important for classic cars, which often appreciate in value over time. Hagerty also offers specialized coverage for car clubs, auctions, and museums, as well as coverage for vehicles that are being restored or under construction.

In addition to their insurance and support services, Hagerty is also an active participant in the classic car community. They sponsor a number of classic car events and rallies around the world, including the prestigious Pebble Beach Concours d'Elegance. They also publish a classic car magazine, Hagerty Drivers Club, which features stories, news, and insights from the classic car world.

Overall, Hagerty Inc. is a company that embodies the passion and enthusiasm of classic car enthusiasts. They provide comprehensive insurance coverage and a range of related services to help classic car owners protect and enjoy their vehicles, while also supporting the wider classic car community.

   Company Address: 121 Drivers Edge Traverse City 49684 MI
   Company Phone Number: 922-4050   Stock Exchange / Ticker: NYSE HGTY
   HGTY is expected to report next financial results on March 13, 2024.


Stock Performances by Major Competitors

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Hagerty Inc

Insurance Brokerage Giant Unleashes Unprecedented Revenue Surge, Dominating the Financial Landscape as September 2023 Comes to a Close

Surge in Revenue Fails to Lift Hagerty Inc's Income, Indicating Bearish Outlook
Hagerty Inc, a prominent player in the Insurance Brokerage industry, recently reported its third-quarter results for 2023. Despite a significant increase in revenue, the company's income remained stagnant, painting a bleak picture for their financial performance. Earnings per share (EPS) for the quarter remained unchanged at $0.04 per share, showcasing a lack of growth and potential concerns for investors.
In the third quarter of 2023, revenue experienced a substantial jump of 27.135% to reach $275.57 million compared to the same period last year. While this surge in revenue may seem impressive at first glance, it is essential to consider the broader industry context. Hagerty Inc's revenue growth outperformed their Insurance Brokerage industry peers, which experienced an average business elevation of only 13.01% during the same period. Therefore, it could be argued that Hagerty Inc may be losing market share to competitors or facing challenges in leveraging revenue growth into increased profitability.

Product Service News

Reinventing Luxury Automotive Insurance: The Marriage of duPont REGISTRY Group and Hagerty

Published Thu, Nov 2 2023 12:01 PM UTC

MIAMI - duPont REGISTRY Group, known for its luxury ecosystem catering to the high-end automotive lifestyle, has introduced a new offering in partnership with Hagerty. The luxury automotive insurance division, known as duPont REGISTRY Insurance, aims to provide top-notch coverage and unparalleled service to owners of high-end cars.
With its focus on catering to...

Hagerty Inc

Hagerty Inc's Remarkable Revenue Surge Outshines Peers in Recent Fiscal Period

Hagerty Inc, a leading insurance brokerage company, experienced a surge in revenue in the fiscal second quarter of 2023. However, despite the increase in revenue, the company's earnings per share (EPS) remained unchanged at $0.03 per share. The company's revenue jumped by a significant 26.807% to $261.24 million compared to the same reporting season a year ago.
In comparison to other companies in the insurance brokerage sector, Hagerty Inc's revenue growth outpaced many of its peers. During the second quarter of 2023, the average revenue rise for two-thirds of businesses in the insurance brokerage industry was 8.44% relative to the same period last year. This indicates that Hagerty Inc's revenue increase was more substantial than its competitors.


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