Hagerty Insurance Stock Analysis and Insights

Hagerty Insurance has seen significant growth in recent years, with revenue increasing from $144 million in 2015 to $544 million in 2020.

The company's valuation has also skyrocketed, with a 2020 valuation of $1.5 billion.

As of 2020, Hagerty Insurance had over 1.4 million policyholders.

Hagerty's unique business model, focusing on classic car insurance, has been a key driver of its success.

Hagerty Inc's stock price has been fluctuating, with a capitalization of $911M in one quarter and $137B in another.

The company's valuation has been affected by various factors, including a recent downgrade by Raymond James to Underperform from Market Perform.

Hagerty's Q3 2024 earnings were flat, but revenue rose, and the company raised its 2024 revenue outlook.

The company's insider activity has been notable, with several insiders selling shares worth millions of dollars.

Here are some key recent events affecting Hagerty Inc's stock:

Analysts have been weighing in on Hagerty Inc, with some adjusting their price targets and others maintaining their ratings.

Hagerty Inc's stock price has been affected by various factors, including its recent acquisition of Consolidated National Insurance Company from Everspan Insurance Company.

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Hagerty's market capitalization has fluctuated, reaching as high as 137 billion and as low as 724 million.

The company's P/E ratio for 2024 is 77.8x, significantly higher than the 5.87x ratio expected for 2025.

Hagerty's enterprise value has also varied, ranging from 911 million to 137 billion.

Truist adjusted Hagerty's price target to $11 from $10, while maintaining a Hold rating.

The EV/Sales ratio for 2024 is 0.77x, and it's expected to decrease to 0.67x in 2025.

A recent SEC filing revealed that a Hagerty insider sold shares worth $335,598.

Here are Hagerty's valuation metrics in a table:

Hagerty Insurance is a leading provider of classic car insurance, with a history dating back to 1984.

The company was founded by Kent Hagerty, a classic car enthusiast who recognized the need for specialized insurance coverage for vintage vehicles.

Hagerty Insurance offers a range of policies tailored to classic car owners, including comprehensive coverage for restoration projects and agreed value coverage for collectible vehicles.

With a focus on customer service, Hagerty Insurance has a reputation for being responsive and knowledgeable about classic cars.

Hagerty Insurance has experienced significant growth, with over 1 million policyholders worldwide.

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Hagerty's revenue in 2023 was $1.00 billion, a 27% increase from the previous year.

This significant growth in revenue is a positive sign for the company's financial health. Hagerty's earnings, however, took a hit, decreasing by 50.49% to $15.88 million.

The company's return on equity (ROE) looks acceptable, similar to the industry average of 14%. This could be contributing to Hagerty's impressive net income growth of 33% over the past five years.

Hagerty's net income growth is significantly higher than the industry average of 11% in the same period. This suggests that the company is doing something right.

Hagerty doesn't pay regular dividends, instead choosing to reinvest all of its profits into the business. This strategy is likely contributing to the company's high earnings growth.

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