Tearsheet

Hagerty (HGTY)


Market Price (6/23/2026): $10.84 | Market Cap: $1.1 BilSector: Financials | Industry: Property & Casualty Insurance

Hagerty (HGTY)


Market Price (6/23/2026): $10.84
Market Cap: $1.1 Bil
Sector: Financials
Industry: Property & Casualty Insurance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -23%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%

Attractive yield
FCF Yield is 15%

Low stock price volatility
Vol 12M is 38%

Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, and Digital & Alternative Assets. Themes include Experiential Retail, and Collectible & Classic Vehicle Assets.

Weak multi-year price returns
2Y Excs Rtn is -27%, 3Y Excs Rtn is -56%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 30x

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -5.0%

Key risks
HGTY key risks include [1] its dependence on the health and appeal of the niche classic and enthusiast car market.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -23%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%
2 Attractive yield
FCF Yield is 15%
3 Low stock price volatility
Vol 12M is 38%
4 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, and Digital & Alternative Assets. Themes include Experiential Retail, and Collectible & Classic Vehicle Assets.
5 Weak multi-year price returns
2Y Excs Rtn is -27%, 3Y Excs Rtn is -56%
6 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 30x
7 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -5.0%
8 Key risks
HGTY key risks include [1] its dependence on the health and appeal of the niche classic and enthusiast car market.

HGTY in ETFs

Weight = HGTY's share of each fund

VTI0.00%
VB0.01%
VBK0.01%
SCHA0.01%
DFAS0.01%
SCHB0.00%
DFAC0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/11/2026

Hagerty (HGTY) stock has lost about 10% since 2/28/2026 because of the following key factors:

1. Hagerty reported a significant Earnings Per Share (EPS) miss and a swing to a net loss in its fiscal Q1 2026 earnings, reported on May 6, 2026. The company posted an adjusted loss per share of -$0.04, missing analyst expectations by 200% compared to an estimated $0.04, or a 100% negative surprise against an anticipated -$0.02, and a 500% negative surprise when compared to an estimated $0.01. This contributed to a net loss of $12.7 million for the quarter, a notable decline from a net income of $27.3 million in fiscal Q1 2025. Despite exceeding revenue estimates with $311.83 million, investor concerns over the profitability shortfall led to a stock price decline of 2.24% in pre-market trading following the announcement.

2. The company incurred substantial transitional costs and experienced a revenue decline due to a strategic shift in its underwriting model during fiscal Q1 2026. Effective January 1, 2026, Hagerty Re began retaining 100% of the quota share under a new Markel Fronting Arrangement. While this move led to a 42% increase in earned premiums to $240 million in Q1 2026, it also resulted in the elimination of Markel-related commission revenue in consolidation, causing total revenue to decrease by 5% to $312 million. The transition also included $89 million in pre-tax transitional costs related to deferred ceding commissions, contributing significantly to the reported GAAP net loss.

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Updated on 6/11/2026

Hagerty (HGTY) stock has lost about 10% since 2/28/2026 because of the following key factors:

1. Hagerty reported a significant Earnings Per Share (EPS) miss and a swing to a net loss in its fiscal Q1 2026 earnings, reported on May 6, 2026. The company posted an adjusted loss per share of -$0.04, missing analyst expectations by 200% compared to an estimated $0.04, or a 100% negative surprise against an anticipated -$0.02, and a 500% negative surprise when compared to an estimated $0.01. This contributed to a net loss of $12.7 million for the quarter, a notable decline from a net income of $27.3 million in fiscal Q1 2025. Despite exceeding revenue estimates with $311.83 million, investor concerns over the profitability shortfall led to a stock price decline of 2.24% in pre-market trading following the announcement.

2. The company incurred substantial transitional costs and experienced a revenue decline due to a strategic shift in its underwriting model during fiscal Q1 2026. Effective January 1, 2026, Hagerty Re began retaining 100% of the quota share under a new Markel Fronting Arrangement. While this move led to a 42% increase in earned premiums to $240 million in Q1 2026, it also resulted in the elimination of Markel-related commission revenue in consolidation, causing total revenue to decrease by 5% to $312 million. The transition also included $89 million in pre-tax transitional costs related to deferred ceding commissions, contributing significantly to the reported GAAP net loss.

3. Broader macroeconomic headwinds and sector-specific challenges within the insurance industry, particularly affecting auto liability, likely contributed to a cautious investor sentiment. Throughout fiscal Q1 2026, the global insurance market faced economic uncertainty, sustained catastrophe pressure, and geopolitical disruptions. Specifically for the auto insurance sector, loss severity continues to increase due to factors like inflation, persistent parts shortages, and the growing complexity of vehicle technology. This environment of rising costs and potential underwriting volatility, coupled with ongoing concerns about social inflation, could temper investor enthusiasm for insurance stocks, including specialty providers like Hagerty. Analyst ratings reflect this caution, with Truist Securities and Wells Fargo trimming their price targets for Hagerty from $13.00 to $11.00 in May and April 2026, respectively.

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Stock Movement Drivers

Fundamental Drivers

The -7.7% change in HGTY stock from 2/28/2026 to 6/22/2026 was primarily driven by a -25.4% change in the company's Net Income Margin (%).
(LTM values as of)22820266222026Change
Stock Price ($)11.7410.84-7.7%
Change Contribution By: 
Total Revenues ($ Mil)1,4651,449-1.1%
Net Income Margin (%)3.3%2.5%-25.4%
P/E Multiple24.130.325.7%
Shares Outstanding (Mil)101101-0.4%
Cumulative Contribution-7.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/22/2026
ReturnCorrelation
HGTY-7.7% 
Market (SPY)8.8%2.4%
Sector (XLF)5.0%32.6%

Fundamental Drivers

The -18.9% change in HGTY stock from 11/30/2025 to 6/22/2026 was primarily driven by a -18.7% change in the company's Net Income Margin (%).
(LTM values as of)113020256222026Change
Stock Price ($)13.3610.84-18.9%
Change Contribution By: 
Total Revenues ($ Mil)1,4101,4492.7%
Net Income Margin (%)3.1%2.5%-18.7%
P/E Multiple29.730.32.1%
Shares Outstanding (Mil)96101-4.8%
Cumulative Contribution-18.9%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/22/2026
ReturnCorrelation
HGTY-18.9% 
Market (SPY)9.5%2.4%
Sector (XLF)1.6%31.4%

Fundamental Drivers

The 11.5% change in HGTY stock from 5/31/2025 to 6/22/2026 was primarily driven by a 20.9% change in the company's Net Income Margin (%).
(LTM values as of)53120256222026Change
Stock Price ($)9.7210.8411.5%
Change Contribution By: 
Total Revenues ($ Mil)1,2961,44911.8%
Net Income Margin (%)2.1%2.5%20.9%
P/E Multiple32.730.3-7.5%
Shares Outstanding (Mil)90101-10.9%
Cumulative Contribution11.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/22/2026
ReturnCorrelation
HGTY11.5% 
Market (SPY)27.7%10.4%
Sector (XLF)7.0%31.2%

Fundamental Drivers

The 24.5% change in HGTY stock from 5/31/2023 to 6/22/2026 was primarily driven by a 756.0% change in the company's Net Income Margin (%).
(LTM values as of)53120236222026Change
Stock Price ($)8.7110.8424.5%
Change Contribution By: 
Total Revenues ($ Mil)8481,44970.9%
Net Income Margin (%)0.3%2.5%756.0%
P/E Multiple293.230.3-89.7%
Shares Outstanding (Mil)83101-17.6%
Cumulative Contribution24.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/22/2026
ReturnCorrelation
HGTY24.5% 
Market (SPY)85.1%21.0%
Sector (XLF)77.5%34.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HGTY Return45%-41%-7%24%39%-19%11%
Peers Return27%11%16%31%13%-2%139%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
HGTY Win Rate71%50%42%75%75%33% 
Peers Win Rate57%53%62%68%60%43% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
HGTY Max Drawdown--58%-27%-21%-19%-28% 
Peers Max Drawdown-12%-21%-21%-12%-18%-13% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: HIG, FNF, CB, PGR, TRV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/22/2026 (YTD)

How Low Can It Go

EventHGTYS&P 500
2025 US Tariff Shock
  % Loss-17.1%-18.8%
  % Gain to Breakeven20.6%23.1%
  Time to Breakeven77 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-13.9%-9.5%
  % Gain to Breakeven16.1%10.5%
  Time to Breakeven132 days24 days
2023 SVB Regional Banking Crisis
  % Loss-16.1%-6.7%
  % Gain to Breakeven19.3%7.1%
  Time to Breakeven44 days31 days

Compare to HIG, FNF, CB, PGR, TRV

In The Past

Hagerty's stock fell -17.1% during the 2025 US Tariff Shock. Such a loss loss requires a 20.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

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Compare to HIG, FNF, CB, PGR, TRV

In The Past

Hagerty's stock fell -17.1% during the 2025 US Tariff Shock. Such a loss loss requires a 20.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Hagerty (HGTY)

Hagerty, Inc. primarily functions as an insurance agency, specializing in automobile and boat insurance products, particularly catering to the collector and enthusiast vehicle market, including reinsurance services. Expanding beyond its core insurance offerings, Hagerty also provides Hagerty Media, which publishes content through a magazine, video, and a YouTube channel, alongside the Hagerty Valuation Tool (HVT) for current and historic vehicle pricing data.

The company has developed a comprehensive suite of products and services designed for automotive and boating enthusiasts. These include subscription-based offerings like HDC, which provides access to the magazine, automotive events, proprietary valuation tools, emergency roadside services, and special discounts. Hagerty further enriches the enthusiast experience with Hagerty Events, a peer-to-peer rental platform called DriveShare, and Motorsport Reg for online motorsport event management. Additionally, Hagerty Garage + Social offers clubhouses and car storage facilities. This diverse portfolio positions Hagerty as a leading lifestyle brand for collectors, motorsport participants, and anyone passionate about special vehicles.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Hagerty:

  • Like a specialized blend of **AAA and ESPN** for collector car enthusiasts, offering essential services, roadside assistance, insurance, and a rich media and event ecosystem.
  • The **Harley-Davidson** of the collector car world, building a full lifestyle and service ecosystem around vehicle enthusiasts, including media, events, insurance, and community, rather than selling the vehicles themselves.
  • A blend of **IMDb and AAA** for collectible vehicles, providing both comprehensive data and media content alongside essential services like specialized insurance and roadside assistance.

AI Analysis | Feedback

  • Insurance Services: Provides automobile and boat insurance products, as well as reinsurance products.
  • Hagerty Media: Publishes content through a magazine, video content, and a YouTube channel for automotive enthusiasts.
  • Hagerty Drivers Club (HDC): A subscription-based club offering benefits such as the HDC Magazine, automotive events, valuation tools, emergency roadside services, and special discounts.
  • Hagerty Valuation Tools (HVT): A tool enabling customers to access current and historic pricing data for collector cars, trucks, SUVs, and motorcycles.
  • Hagerty Events: Organizes a variety of small and large events catering to the automotive enthusiast community.
  • DriveShare: A peer-to-peer rental platform that allows users to rent out or borrow collector and unique vehicles.
  • MotorsportReg: An online management system designed for motorsport membership, licensing, and events, automating listings, registration, and payment processing.
  • Hagerty Garage + Social: Provides clubhouses and car storage facilities for automotive enthusiasts.

AI Analysis | Feedback

Hagerty (HGTY) primarily sells its products and services to individuals. Based on the company description, its major customer categories include:

  • Collector Vehicle Owners: This category encompasses individuals who own classic, antique, or special interest cars, trucks, SUVs, and motorcycles. They are the primary users of Hagerty's specialized collector vehicle insurance products, subscription-based Hagerty Drivers Club (HDC) benefits (including exclusive content, events, and roadside assistance), the Hagerty Valuation Tool (HVT), DriveShare (peer-to-peer rentals of collector vehicles), and Hagerty Garage + Social clubhouses and car storage facilities.

  • General Automotive and Motorsport Enthusiasts: This broader category includes individuals with a passion for automobiles and motorsports, whether they own collector vehicles or not. They are consumers of Hagerty Media content (through magazines, video, and YouTube channels), attendees of Hagerty Events, and participants in motorsport activities managed through the Motorsport Reg system.

  • Boat Owners: This specific category refers to individuals who purchase Hagerty's boat insurance products, highlighting a distinct segment of their recreational vehicle insurance offerings.

AI Analysis | Feedback

  • Essentia Insurance Company (subsidiary of Markel Group Inc., symbol: MKL)
  • Nationwide Mutual Insurance Company

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McKeel Hagerty, Chief Executive Officer & Chairman of the Board

McKeel Hagerty was appointed CEO in 2000 and has served as combined Chairman and CEO since April 2, 2024. His parents initiated Hagerty Insurance Agency in 1984. He became co-CEO in 2000 and sole CEO in 2012, having previously led the company as vice president of marketing in 1995. Under his leadership, the company has expanded from a local insurance agency to a global market leader. He served as the international board chair for YPO (Young Presidents' Organization) from 2016 to 2017. He is also a general partner and co-founder of Grand Ventures, a venture capital firm. His entrepreneurial insight led him to refocus the business beyond just insurance to building a "community" for car enthusiasts.

Patrick McClymont, Chief Financial Officer

Patrick McClymont joined Hagerty as Chief Financial Officer in September 2022. Prior to his role at Hagerty, he served as CFO of Orchard Technologies, a residential real estate services company, from 2021 to 2022. His experience also includes CFO positions at IMAX Corporation (2016-2021) and Sotheby's (2013-2016). Before these roles, he spent 15 years at Goldman Sachs, where he became a Partner Managing Director and led the Global Transportation & Infrastructure Group. He currently sits on the board of directors for Standard Motor Products.

Jeff Briglia, President of Insurance

Jeff Briglia was appointed President of Insurance, effective July 1, 2024. He brings 22 years of experience in the insurance sector to Hagerty. Most recently, he was the President and CEO of Plymouth Rock Assurance's Direct and Partner Group. His previous leadership roles include Chief Operating Officer and Chief Insurance Officer for Metromile, as well as executive positions at Progressive, Allstate, and Mercury Insurance.

Kenneth Ahn, President of Marketplace & Radius

Kenneth Ahn serves as President of Hagerty Marketplace & Radius. He co-founded Broad Arrow Group and served as its CEO before Hagerty acquired the group in 2022. Prior to that, he was President of RM Sotheby's. He also worked as a Vice President in the Investment Banking Division at Goldman Sachs, where he focused on M&A and financing transactions, and began his career as a strategy and management consultant at the Boston Consulting Group.

Coco Champagne, Chief Human Resources Officer & Administrative Officer

Coco Champagne has been a member of the Hagerty Executive Team for over a decade. She joined Hagerty in 1999 as the leader of sales and service operations and transitioned to Human Resources in 2002, becoming Senior Vice President of Human Resources and Chief People Officer. In 2018, she was promoted to Chief Operating Officer. Prior to joining Hagerty, Coco was an officer of a national bank, focusing on retail consumer lending.

AI Analysis | Feedback

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Hagerty (HGTY) faces several key risks inherent in its specialized business model, primarily revolving around the niche collector vehicle market, its insurance operations, and the broader economic environment.

Key Risks to Hagerty's Business:

  1. Sensitivity to the Health of the Collector Vehicle Market and Economic Conditions: Hagerty's business is highly dependent on the stability and growth of the collector car and automotive enthusiast market, which relies on discretionary spending by high-net-worth individuals. Economic downturns, inflation, rising interest rates, and increasing ownership and maintenance costs can directly lead to reduced demand for collector vehicle insurance products, lower engagement in enthusiast events, and fewer subscriptions to their services. Recent trends indicate a cooling in the collector car market with median sale prices experiencing declines, highlighting this sensitivity.
  2. Increased Underwriting Volatility and Reliance on Strategic Partnerships: As Hagerty transitions to assuming a greater percentage of the risk for policies written through its arrangements, such as the Markel Fronting Arrangement, it faces increased exposure to underwriting volatility. Furthermore, the company's success and ability to offer competitive products are closely tied to its strategic relationships with a limited number of insurance distribution and underwriting carrier partners. Any disruption or adverse change in these partnerships could materially affect Hagerty's financial performance and market position.
  3. Competitive Market Landscape: Hagerty operates in a competitive environment across its various business segments. It faces intense competition in the specialty automotive insurance market from other niche providers and the potential for larger, traditional property and casualty insurers to expand their offerings in this space. Additionally, its digital platforms and event services compete with global auction houses, digital marketplaces, and other automotive enthusiast groups.
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AI Analysis | Feedback

Hagerty, Inc. operates in several substantial addressable markets related to automotive enthusiasts and collector vehicles.

Insurance Products

  • Collector Automobile and Boat Insurance: The global collector auto insurance market was valued at approximately $1.85 billion in 2025 and is projected to reach $3.12 billion by 2034. In the U.S. alone, there are around 43 million cars that fit Hagerty's definition of a collector vehicle, representing an estimated $1 trillion in total insurable value. Hagerty currently insures approximately 2.8 million vehicles, indicating a significant penetration opportunity within a 36 million addressable market for collector vehicles in the U.S.
  • Reinsurance: The global reinsurance market was valued at approximately $621.39 billion in 2025 and is projected to grow to $1,403.7 billion by 2034. North America accounted for a significant share of this market, contributing over 44% of the revenue in 2024.

Membership, Media, and Marketplace Services

  • Automotive Enthusiast Market (Hagerty Drivers Club, Media, Events, Valuation Tools): There are approximately 67 million automotive enthusiasts in the U.S. and 500 million globally, representing a broad audience for Hagerty's content, events, and club services. The global classic car market, which underpins much of the enthusiast interest, was valued at an estimated $37.52 billion in 2024 and is projected to reach $94.13 billion by 2035. North America is the largest market for classic cars, holding about 45% of the global market share.
  • DriveShare (Peer-to-Peer Collector Vehicle Rentals): The global peer-to-peer carsharing market is estimated at approximately $3.07 billion in 2025, with projections to reach about $9.6 billion by 2032. Another report estimates the global peer-to-peer car rental platforms market size at $5.2 billion in 2025, expected to reach $12.4 billion by 2032. North America leads this market, accounting for over 35% of the share in 2025.
  • MotorsportReg (Motorsport Event Management): The global motorsport market was valued at approximately $9.5 billion in 2024 and is estimated to reach $20.1 billion by 2034. The broader global sports events market was estimated at $485.14 billion in 2025.
  • Hagerty Garage + Social (Car Storage Facilities): The global vehicle storage unit service market was valued at approximately $4.97 billion in 2024 and is expected to grow to $9 billion by 2035. North America dominates this market, with a valuation of $2.1 billion in 2024, projected to increase to $3.4 billion in 2035.

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Expected Drivers of Future Revenue Growth for Hagerty (HGTY)

Over the next 2-3 years, Hagerty (HGTY) is expected to drive future revenue growth through several key initiatives:

  1. Expansion of the State Farm Classic Plus Program: Hagerty plans to accelerate its top-line growth by expanding the State Farm Classic Plus program into over 25 states in the latter half of 2025. This initiative is anticipated to leverage State Farm's extensive distribution network to attract new customers and significantly increase market share. The program is expected to materially expand Hagerty's customer acquisition funnel and generate recurring commission revenues over the coming years, with plans to add approximately 525,000 policies by 2026.
  2. Growth in Hagerty Drivers Club (HDC) Membership and Services: Hagerty's strategy emphasizes building an integrated ecosystem for car enthusiasts, which includes expanding its membership base. The company added a record 371,000 new members in 2025, bringing its Hagerty Drivers Club paid membership to approximately 930,000. Further growth is expected through initiatives aimed at increasing member engagement, monetizing subscriptions, and launching new products such as "Enthusiast+".
  3. Expansion and Monetization of the Marketplace: The Hagerty Marketplace, encompassing auctions and private sales, is a significant growth driver. In 2025, Marketplace revenue more than doubled, surging by 119% to $119 million, fueled by a 271% increase in private sales and expansion into Europe. The integration of Broad Arrow auctions with the Hagerty Marketplace aims to create a unified demand engine, enhancing sell-through rates, consignor satisfaction, and cross-selling opportunities for insurance and other add-ons.
  4. Benefits from the New Markel Fronting Arrangement: Effective January 1, 2026, Hagerty will transition to a 100% quota share arrangement with Markel, allowing it to retain the full premium and risk from its underwriting book. This strategic shift is expected to materially boost underwriting profits and margins from 2026, enhancing profitability and operational control, and ultimately leading to higher rates of underlying profit growth and cash flow for shareholders.
  5. Strategic Technology Investments and Operational Efficiencies: Hagerty is making significant investments in technology, including a $20 million investment in 2025 for a new cloud-based platform (Duck Creek), to enhance risk rating capabilities, streamline operations, and improve customer experience. These technology-led efficiency initiatives are anticipated to contribute to lower loss ratios, improved retention, and increased subscription and marketplace revenue by leveraging data, APIs, and artificial intelligence.

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Share Repurchases

  • Hagerty does not currently have a share repurchase program.

Share Issuance

  • Hagerty became a public company in December 2021 through a business combination with Aldel Financial Inc.
  • The total number of shares outstanding, including Class A and Class V, increased from approximately 334.24 million as of March 1, 2023, to about 335.69 million as of March 1, 2024.

Inbound Investments

  • Hagerty's business combination with Aldel Financial Inc. in December 2021 represented a significant inbound investment, facilitating the company's public market listing.

Outbound Investments

  • Hagerty has invested in expanding its Marketplace, which includes the growth of Broad Arrow's live and European auctions and online sales, and has increased Broad Arrow Capital's revolving credit capacity to $150 million.
  • The company is expanding its insurance and marketplace reach by introducing new offerings such as the Enthusiast+ product and the Drivers Edge Insurance Company, while also increasing risk assumption through Hagerty Re.

Capital Expenditures

  • Capital expenditures for the last 12 months totaled -$24.54 million.
  • In Q4 2025, Hagerty invested $6.0 million in capital expenditures, focused on funding long-term assets and infrastructure.
  • Annual capital expenditures were approximately -$43.4 million in 2021, -$44.4 million in 2022, and -$26.4 million in 2023.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

HGTYHIGFNFCBPGRTRVMedian
NameHagerty Hartford.Fidelity.Chubb Progress.Traveler. 
Mkt Price10.84129.5046.94325.20207.38310.61168.44
Mkt Cap1.135.812.6127.0121.466.851.3
Rev LTM1,44928,45114,59261,19989,41548,94238,696
Op Inc LTM-------
FCF LTM1655,8205,45115,19716,42011,4448,632
FCF 3Y Avg1545,2296,05314,44214,7749,5267,790
CFO LTM1915,9825,58815,19716,77211,4448,713
CFO 3Y Avg1785,4086,19314,44215,0769,5267,859

Growth & Margins

HGTYHIGFNFCBPGRTRVMedian
NameHagerty Hartford.Fidelity.Chubb Progress.Traveler. 
Rev Chg LTM11.8%6.3%14.2%8.4%13.9%4.1%10.1%
Rev Chg 3Y Avg19.7%8.2%10.6%11.3%19.9%9.1%10.9%
Rev Chg Q-5.0%5.6%16.9%10.7%8.7%1.0%7.2%
QoQ Delta Rev Chg LTM-1.1%1.4%3.2%2.4%2.0%0.2%1.7%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM13.2%21.0%38.3%24.8%18.8%23.4%22.2%
CFO/Rev 3Y Avg14.1%20.2%47.2%25.6%19.4%20.5%20.3%
FCF/Rev LTM11.4%20.5%37.4%24.8%18.4%23.4%21.9%
FCF/Rev 3Y Avg12.2%19.5%46.2%25.6%19.0%20.5%20.0%

Valuation

HGTYHIGFNFCBPGRTRVMedian
NameHagerty Hartford.Fidelity.Chubb Progress.Traveler. 
Mkt Cap1.135.812.6127.0121.466.851.3
P/S0.81.30.92.11.41.41.3
P/Op Inc-------
P/EBIT-6.86.28.48.26.86.8
P/E30.38.816.611.210.58.810.9
P/CFO5.76.02.38.47.25.85.9
Total Yield3.3%13.1%10.4%10.1%16.2%12.1%11.2%
Dividend Yield0.0%1.7%4.4%1.2%6.7%0.7%1.4%
FCF Yield 3Y Avg17.7%15.1%41.3%12.3%11.2%16.2%15.7%
D/E0.20.10.40.10.10.10.1
Net D/E-0.2-0.5-2.1-0.2-0.0-1.3-0.4

Returns

HGTYHIGFNFCBPGRTRVMedian
NameHagerty Hartford.Fidelity.Chubb Progress.Traveler. 
1M Rtn1.3%-4.3%-2.4%-0.5%3.9%1.8%0.4%
3M Rtn2.7%-3.9%6.7%-0.0%1.2%5.5%1.9%
6M Rtn-20.1%-6.4%-13.0%5.2%-2.9%7.3%-4.7%
12M Rtn10.1%4.5%-7.1%16.0%-15.7%19.1%7.3%
3Y Rtn14.5%94.3%61.6%75.2%70.9%88.7%73.1%
1M Excs Rtn-2.4%-5.3%-3.9%-1.2%1.8%1.1%-1.8%
3M Excs Rtn-11.5%-16.8%-5.2%-13.7%-14.1%-9.7%-12.6%
6M Excs Rtn-26.2%-16.7%-25.4%-6.6%-14.1%-3.7%-15.4%
12M Excs Rtn-12.7%-19.4%-31.4%-8.2%-40.1%-5.8%-16.1%
3Y Excs Rtn-56.2%22.9%-11.6%9.2%7.9%18.0%8.6%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Insurance1,3361,186   
Marketplace12055   
Single segment  1,012  
Change in fair value of warrant liabilities   42-43
Commission and fee revenue   247214
Contingent commission revenue   6057
Earned premium   403296
Marketplace and other revenue   3211
Membership revenue   4541
Total1,4561,2421,012829577


Price Behavior

Price Behavior
Market Price$10.84 
Market Cap ($ Bil)1.1 
First Trading Date06/01/2021 
Distance from 52W High-21.6% 
   50 Days200 Days
DMA Price$10.55$11.69
DMA Trendindeterminateindeterminate
Distance from DMA2.8%-7.3%
 3M1YR
Volatility32.5%38.3%
Downside Capture-18.2244.29
Upside Capture-1.1043.26
Correlation (SPY)-1.4%10.7%
HGTY Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta-0.750.170.300.220.440.48
Up Beta-1.220.550.680.740.710.52
Down Beta0.04-1.210.110.090.130.49
Up Capture-37%-5%-12%-22%31%15%
Bmk +ve Days13283667141432
Stock +ve Days10243463129358
Down Capture-137%41%61%48%58%72%
Bmk -ve Days7132757109318
Stock -ve Days9162759114371

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HGTY
HGTY10.8%38.3%0.35-
Sector ETF (XLF)8.6%14.6%0.3531.8%
Equity (SPY)26.1%12.4%1.5910.9%
Gold (GLD)24.1%27.5%0.77-5.8%
Commodities (DBC)18.5%18.8%0.77-23.0%
Real Estate (VNQ)11.8%13.8%0.5716.0%
Bitcoin (BTCUSD)-40.2%42.5%-1.09-0.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HGTY
HGTY-6.4%39.4%-0.07-
Sector ETF (XLF)9.5%18.6%0.3931.6%
Equity (SPY)13.4%17.1%0.6127.5%
Gold (GLD)17.1%18.3%0.761.7%
Commodities (DBC)7.5%19.4%0.283.7%
Real Estate (VNQ)2.1%18.9%0.0126.3%
Bitcoin (BTCUSD)9.4%54.1%0.379.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HGTY
HGTY-3.2%39.2%-0.06-
Sector ETF (XLF)13.2%22.2%0.5431.6%
Equity (SPY)15.4%18.0%0.7327.5%
Gold (GLD)12.2%16.1%0.621.7%
Commodities (DBC)6.0%18.0%0.263.7%
Real Estate (VNQ)5.4%20.7%0.2326.3%
Bitcoin (BTCUSD)59.9%66.8%1.009.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity1.1 Mil
Short Interest: % Change Since 515202612.2%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest6.1 days
Basic Shares Quantity101.0 Mil
Short % of Basic Shares1.1%

Returns Analyses

Earnings Returns History

Updated 6/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/2026-2.1%-2.9%-1.3%
2/26/20264.0%-6.9%-8.4%
11/4/2025-1.3%14.6%12.8%
8/4/20257.3%6.3%12.3%
5/7/20259.8%10.8%13.0%
3/4/2025-1.1%-5.6%-9.3%
11/7/2024-4.4%-7.3%-5.9%
8/6/20242.3%-0.7%12.4%
...
SUMMARY STATS   
# Positive11810
# Negative7108
Median Positive5.1%10.2%12.2%
Median Negative-1.3%-3.5%-4.8%
Max Positive10.0%14.6%42.9%
Max Negative-12.9%-21.5%-27.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/2026-2.1%-2.9%-1.3%
2/26/20264.0%-6.9%-8.4%
11/4/2025-1.3%14.6%12.8%
8/4/20257.3%6.3%12.3%
5/7/20259.8%10.8%13.0%
3/4/2025-1.1%-5.6%-9.3%
11/7/2024-4.4%-7.3%-5.9%
8/6/20242.3%-0.7%12.4%
5/7/20240.6%-0.1%10.6%
3/12/2024-1.1%-2.7%-3.6%
11/8/202310.0%11.7%12.1%
8/8/20230.1%7.3%1.5%
5/9/20235.1%-4.0%1.5%
3/14/2023-0.4%6.3%5.3%
11/10/20227.6%-1.0%-1.5%
8/10/20226.7%10.3%-1.7%
5/9/20224.1%10.1%42.9%
3/24/2022-12.9%-21.5%-27.0%
SUMMARY STATS   
# Positive11810
# Negative7108
Median Positive5.1%10.2%12.2%
Median Negative-1.3%-3.5%-4.8%
Max Positive10.0%14.6%42.9%
Max Negative-12.9%-21.5%-27.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/06/202610-Q
12/31/202502/26/202610-K
09/30/202511/04/202510-Q
06/30/202508/04/202510-Q
03/31/202505/07/202510-Q
12/31/202403/04/202510-K
09/30/202411/07/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202303/12/202410-K
09/30/202311/08/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/14/202310-K
09/30/202211/10/202210-Q
06/30/202208/10/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/06/202610-Q
12/31/202502/26/202610-K
09/30/202511/04/202510-Q
06/30/202508/04/202510-Q
03/31/202505/07/202510-Q
12/31/202403/04/202510-K
09/30/202411/07/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202303/12/202410-K
09/30/202311/08/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/14/202310-K
09/30/202211/10/202210-Q
06/30/202208/10/202210-Q
03/31/202205/09/202210-Q
12/31/202103/24/202210-K
09/30/202112/21/2021S-1

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Written Premium Growth15.0%15.5%16.0%3.3%0.5%RaisedGuidance: 15.0% for 2026
2026 Underwriting Profits and Investment Income Growth 25.0% 00AffirmedGuidance: 25.0% for 2026
2030 Policies in Force 3.00 Mil    
2026 State Farm Policies on Platform 0.26 Mil    

Prior: Q4 2025 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Written Premium Growth 15.0%   Higher New
2026 Underwriting Profit Growth 25.0% 0.0%0.0%AffirmedGuidance: 25.0% for 2026

Insider Activity

Updated 5/19/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Kuczinski, Anthony J DirectBuy519202610.469,50099,370718,058Form
2Harris, Laurie DirectSell408202611.015,53160,896403,946Form
3Kuczinski, Anthony J DirectBuy31320269.504,00038,000449,132Form
4Kuczinski, Anthony J DirectBuy304202610.7215,000160,800463,929Form
5Ahn, KennethPresident, Hagerty MarketplaceQuadrifoglio Holdings LLCSell127202612.4150,000  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Kuczinski, Anthony J DirectBuy519202610.469,50099,370718,058Form
2Harris, Laurie DirectSell408202611.015,53160,896403,946Form
3Kuczinski, Anthony J DirectBuy31320269.504,00038,000449,132Form
4Kuczinski, Anthony J DirectBuy304202610.7215,000160,800463,929Form
5Ahn, KennethPresident, Hagerty MarketplaceQuadrifoglio Holdings LLCSell127202612.4150,000  Form
6Ahn, KennethPresident, Hagerty MarketplaceQuadrifoglio Holdings LLCSell122202612.5550,000  Form
7Ahn, KennethPresident, Hagerty MarketplaceQuadrifoglio Holdings LLCSell113202612.8650,000  Form
8Ahn, KennethPresident, Hagerty MarketplaceQuadrifoglio Holdings LLCSell113202613.251,350  Form
9Ahn, KennethPresident, Hagerty MarketplaceQuadrifoglio Holdings LLCSell1217202512.80100,000  Form
10Kauffman, Robert I Aldel LLCSell1028202511.1215,270169,8029,986,839Form
11Kauffman, Robert I Aldel LLCSell1024202511.1614,731164,39810,193,176Form
12Kauffman, Robert I Aldel LLCSell1024202511.1215,000166,80010,320,450Form
13Kauffman, Robert I Aldel LLCSell1024202511.189,495106,15410,543,836Form
14Kauffman, Robert I Aldel LLCSell1021202511.1912,219136,73110,659,516Form
15Kauffman, Robert I Aldel LLCSell1021202511.208,28692,80310,805,894Form
16Kauffman, Robert I Aldel LLCSell1021202511.3314,644165,91711,025,200Form
17Kauffman, Robert I Aldel LLCSell1016202511.6423,392272,28311,497,317Form
18Kauffman, Robert I Aldel LLCSell1016202512.1412,391150,42712,275,167Form
19Kauffman, Robert I Aldel LLCSell1016202512.1655,524675,17212,446,064Form
20Kauffman, Robert I Aldel LLCSell1009202512.0022,629271,54812,948,588Form
21Kauffman, Robert I Aldel LLCSell1009202511.906,86181,64613,109,968Form
22Kauffman, Robert I Aldel LLCSell1006202512.013,02436,31813,313,553Form
23Kauffman, Robert I Aldel LLCSell1006202511.9821,314255,34213,316,525Form
24Kauffman, Robert I Aldel LLCSell1001202512.0618,372221,56613,662,497Form
25Kauffman, Robert I Aldel LLCSell1001202511.9630,187361,03713,768,938Form
26Kauffman, Robert I Aldel LLCSell1001202511.775,50664,80613,905,502Form
27Kauffman, Robert I Aldel LLCSell924202512.3834,447426,45414,694,342Form
28Kauffman, Robert I Aldel LLCSell917202512.4617,622219,57015,218,507Form
29Kauffman, Robert I Aldel LLCSell917202512.7911,433146,22815,846,951Form
30Kauffman, Robert I Aldel LLCSell908202512.0138,085457,40115,017,832Form
31Kuczinski, Anthony J DirectBuy908202511.621,00011,620328,579Form
32Kauffman, Robert I Aldel LLCSell903202511.3141,699471,61614,573,263Form
33Kauffman, Robert I Aldel LLCSell903202511.1922,295249,48114,885,251Form
34Kauffman, Robert I Aldel LLCSell903202511.2362,500701,87515,188,833Form
35Kauffman, Robert I Aldel LLCSell828202511.2128,736322,13115,862,408Form
36Kauffman, Robert I Aldel LLCSell828202511.0828,704318,04015,996,850Form
37Kauffman, Robert I Aldel LLCSell828202510.769,844105,92115,843,702Form
38Kauffman, Robert I Aldel LLCSell825202510.877,66883,35116,112,677Form
39Kauffman, Robert I Aldel LLCSell825202510.926,08166,40516,270,527Form
40Kauffman, Robert I Aldel LLCSell825202510.777,35679,22416,112,523Form
41Hagerty, Holding CorpDirectSell81520258.921,236,750  Form
42Kauffman, Robert I Aldel LLCSell81320258.92218,2501,946,72513,409,984Form
43Kauffman, Robert I Aldel LLCSell81320258.921,455,00012,978,16415,356,709Form
44Hagerty, Holding CorpDirectSell81120258.928,245,000  Form
45Kauffman, Robert I Aldel LLCSell729202510.854,00043,40034,466,783Form
46Kauffman, Robert I Aldel LLCSell729202510.7724,728266,32134,255,730Form
47Kauffman, Robert I Aldel LLCSell724202510.46110,6001,156,87633,528,379Form
48Kauffman, Robert I Aldel LLCSell724202510.1940,393411,60533,789,938Form
49Kauffman, Robert I Aldel LLCSell724202510.1931,869324,74534,201,543Form
50Kauffman, Robert I Aldel LLCSell721202510.1216,897170,99834,289,110Form
51Kauffman, Robert I Aldel LLCSell721202510.1236,174366,08134,460,108Form
52Kauffman, Robert I Aldel LLCSell721202510.0417,762178,33034,550,883Form
53Kauffman, Robert I Aldel LLCSell716202510.0316,972170,22934,694,623Form
54Kauffman, Robert I Aldel LLCSell716202510.0014,862148,62034,760,570Form
55Kauffman, Robert I Aldel LLCSell716202510.008,36283,62034,909,190Form
56Kauffman, Robert I Aldel LLCSell71120259.949,97099,10234,782,853Form
57Kauffman, Robert I Aldel LLCSell711202510.1041,239416,51435,443,435Form
58Kauffman, Robert I Aldel LLCSell711202510.0798,766994,57435,753,434Form
59Kauffman, Robert I Aldel LLCSell708202510.1912,465127,01837,185,919Form
60Kauffman, Robert I Aldel LLCSell708202510.159,914100,62737,166,468Form
61Kauffman, Robert I Aldel LLCSell708202510.193,10031,58937,413,961Form
62Kauffman, Robert I Aldel LLCSell702202510.0412,500125,50036,894,339Form
63Kauffman, Robert I Aldel LLCSell702202510.187,00071,26037,536,052Form
64Kauffman, Robert I Aldel LLCSell702202510.064,60046,27637,164,004Form
65Kauffman, Robert I Aldel LLCSell627202510.127,43275,21237,432,210Form
66Kauffman, Robert I Aldel LLCSell627202510.1419,627199,01837,581,547Form
67Kauffman, Robert I Aldel LLCSell627202510.0512,610126,73137,445,235Form
68Kauffman, Robert I Aldel LLCSell624202510.1431,110315,45537,908,431Form
69Kauffman, Robert I Aldel LLCSell624202510.0211,710117,33437,771,532Form
70Kauffman, Robert I Aldel LLCSell62420259.827,74776,07637,132,602Form
71Kauffman, Robert I Aldel LLCSell61820259.6610,380100,27136,602,426Form
72Kauffman, Robert I Aldel LLCSell61820259.554,61044,02636,284,757Form
73Kauffman, Robert I Aldel LLCSell61820259.544,01038,25536,290,742Form
74Kauffman, Robert I Aldel LLCSell61320259.448,12776,71935,948,190Form
75Kauffman, Robert I Aldel LLCSell61320259.514,22740,19936,292,043Form
76Kauffman, Robert I Aldel LLCSell61320259.618,76484,22236,714,284Form
77Kauffman, Robert I Aldel LLCSell61020259.603,92737,69936,760,214Form
78Kauffman, Robert I Aldel LLCSell61020259.806,42762,98537,564,537Form
79Kauffman, Robert I Aldel LLCSell610202510.0612,326124,00038,625,803Form
80Kauffman, Robert I Aldel LLCSell605202510.0815,823159,49638,826,840Form
81Kauffman, Robert I Aldel LLCSell605202510.019,72697,35738,715,597Form
82Kauffman, Robert I Aldel LLCSell60520259.927,68176,19638,463,987Form
83Kauffman, Robert I Aldel LLCSell60220259.853,72636,70138,268,225Form
84Kauffman, Robert I Aldel LLCSell60220259.8011,112108,89838,110,485Form
85Kauffman, Robert I Aldel LLCSell60220259.7216,070156,20037,907,388Form
86Kauffman, Robert I Aldel LLCSell52820259.377,00065,59036,692,986Form
87Kauffman, Robert I Aldel LLCSell52820259.327,40068,96836,562,425Form
88Kauffman, Robert I Aldel LLCSell52820259.122,14419,55335,845,312Form
89Kauffman, Robert I Aldel LLCSell52220259.192,64424,29836,140,144Form
90Kauffman, Robert I Aldel LLCSell52220259.273,16429,33036,479,258Form
91Kauffman, Robert I Aldel LLCSell52220259.548,96485,51737,571,945Form
92Kauffman, Robert I Aldel LLCSell51920259.8624,110237,72538,920,605Form
93Kauffman, Robert I Aldel LLCSell51920259.698,36181,01838,483,186Form
94Kauffman, Robert I Aldel LLCSell51920259.7212,044117,06838,683,598Form
95Kuczinski, Anthony J DirectBuy51420259.751,0009,750265,951Form
96Kauffman, Robert I Aldel LLCSell51420259.687,23970,07438,640,992Form
97Kauffman, Robert I Aldel LLCSell51420259.7929,849292,22239,150,964Form
98Kuczinski, Anthony J DirectBuy51420259.442,00018,880248,055Form
99Kauffman, Robert I Aldel LLCSell51420259.458,32678,68138,073,351Form
100Kauffman, Robert I Aldel LLCSell50920259.714,18340,61739,201,717Form
101Kauffman, Robert I Aldel LLCSell50920259.764,71045,97039,444,406Form
102Kauffman, Robert I Aldel LLCSell50920259.6733,765326,50839,126,222Form
103Kauffman, Robert I Aldel LLCSell50620259.022,45522,14436,800,788Form
104Kauffman, Robert I Aldel LLCSell50620259.041,45313,13536,904,580Form
Core Cache Last Updated: 6/22/2026