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Hagerty Adds Senior Executives to Insurance Leadership Team in Support of Growth Strategy
Prnewswire· 2025-07-31 20:15
Core Insights - Hagerty, Inc. has enhanced its insurance leadership team by appointing Adam Van Loon as Senior Vice President of Insurance Distribution and Jesse McKendry as Senior Vice President of Insurance Product [1][2] Company Strategy - The strategic hires are part of Hagerty's ongoing investment to expand its insurance capabilities, aiming to better serve its members and partners [2] - Van Loon will focus on accelerating growth through broker networks, agent networks, and partnerships while fostering a customer-first culture [3] - McKendry will drive improvements in insurance products, including development, pricing, underwriting, and reinsurance, leveraging data and customer insights [4] Leadership Background - Adam Van Loon has a background as Chief Partnerships Officer at Plymouth Rock Assurance and has experience with Chubb, Signal Mutual, and Bain & Company [3] - Jesse McKendry brings over two decades of experience from companies like GEICO, Lemonade, Metromile, and Progressive [4] Company Overview - Hagerty is a leading provider of specialty vehicle insurance and serves a community of nearly 890,000 automotive enthusiasts in the U.S., Canada, and the U.K. [5]
Hagerty, Inc. (HGTY) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
ZACKS· 2025-07-28 15:06
Core Viewpoint - Hagerty, Inc. (HGTY) is anticipated to report a year-over-year increase in earnings and revenues for the quarter ended June 2025, with the actual results having a significant impact on the stock price [1][2]. Earnings Expectations - The consensus estimate for Hagerty's quarterly earnings is $0.13 per share, reflecting an 8.3% increase year-over-year, while revenues are expected to reach $354.53 million, up 13.2% from the previous year [3]. - The consensus EPS estimate has been revised 6.45% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows a positive Earnings ESP of +42.10% for Hagerty, suggesting analysts are optimistic about the company's earnings prospects [12]. - The stock holds a Zacks Rank of 1, indicating a strong likelihood of beating the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, Hagerty exceeded the expected earnings of $0.02 per share by delivering $0.08, resulting in a surprise of +300.00% [13]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [14]. Conclusion - Hagerty is positioned as a compelling candidate for an earnings beat, but investors should consider additional factors beyond earnings expectations when making investment decisions [17].
The Amelia Names Dario Franchitti MBE as 2026 Honoree, Unveils Weekend Schedule Featuring Saturday Concours Celebration
Prnewswire· 2025-07-28 13:00
Core Insights - The Amelia has announced Dario Franchitti MBE as the honoree for the 2026 event, recognizing his significant contributions to motorsport and car culture [1][2][4] Event Details - The Amelia will take place from March 5-8, 2026, featuring a variety of activities including an evening event called Reverie, a two-day auction by Hagerty's Broad Arrow Auctions, and a concours showcasing 250 vehicles across 30 classes [2][5][8] - The event will also include the return of RADwood, celebrating the automotive lifestyle of the '80s and '90s, and an expanded Cars & Community event on Sunday [2][5] Auction Highlights - In 2025, Broad Arrow Auctions achieved $61.7 million in total sales with 88% of lots sold, including a notable sale of a 1959 Ferrari 250 GT LWB California Spider Competizione for $9.5 million [4][8] - The 2026 auction is expected to feature over 150 collector cars, building on the success of previous years [4][8] Honoree Background - Dario Franchitti is a four-time IndyCar Series Champion and three-time Indianapolis 500 winner, with a total of 31 career IndyCar victories and 89 podium finishes [6] - He is also recognized as a passionate collector and preservationist, and has been inducted into multiple motorsport halls of fame [6] Organizational Overview - The Amelia is a prestigious motoring event that blends motorsport heritage with contemporary car culture, having donated over $4 million to charitable organizations since its inception in 1996 [8] - Hagerty, the company behind The Amelia, is a leading provider of specialty vehicle insurance and automotive lifestyle services, catering to a community of nearly 890,000 car enthusiasts [9]
Can Hagerty (HGTY) Run Higher on Rising Earnings Estimates?
ZACKS· 2025-07-25 17:21
Core Viewpoint - Hagerty, Inc. (HGTY) is positioned as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating a positive earnings outlook that may continue to drive stock price growth [1][2]. Earnings Estimate Revisions - Analysts have shown growing optimism regarding Hagerty's earnings prospects, reflected in the upward trend of earnings estimate revisions, which historically correlate with stock price movements [2]. - The current-quarter earnings estimate is $0.13 per share, representing an 8.3% increase from the previous year, with a 6.45% rise in the Zacks Consensus Estimate over the last 30 days, indicating no negative revisions [7]. - For the full year, the expected earnings are $0.35 per share, marking a 45.8% increase from the prior year, with a similar trend of one upward revision and no negative changes in estimates [8]. Zacks Rank and Performance - The positive revisions have led to Hagerty earning a Zacks Rank 1 (Strong Buy), which is associated with a strong historical performance, averaging a 25% annual return since 2008 for Zacks 1 ranked stocks [3][9]. - Stocks with Zacks Rank 1 and 2 are shown to significantly outperform the S&P 500, reinforcing the potential for Hagerty's stock to deliver strong returns [9]. Market Reaction - The stock has gained 5.6% over the past four weeks, driven by favorable estimate revisions, suggesting that investors are increasingly confident in Hagerty's earnings growth prospects [10].
MASERATI MC12 STRADALE SUPERCAR LEADS BROAD ARROW’S MONTEREY JET CENTER AUCTION OFFERING
Globenewswire· 2025-07-24 17:16
Core Insights - Broad Arrow Auctions, a Hagerty company, is set to host its flagship Monterey Jet Center Auction on August 13-14, 2025, featuring a highly desirable 2005 Maserati MC12 Stradale, estimated between $4.8 million and $5.5 million [1][2][3] Auction Highlights - The auction will present 170 lots, showcasing a variety of collector cars across active market segments, including modern supercars, post-war classics, and rising JDM icons [4][5] - Notable supercar entries include the 2008 Koenigsegg CCXR (Estimate: $2.75 million - $3.5 million), 2018 Bugatti Chiron (Estimate: $3 million - $3.5 million), and 1991 Ferrari F40 (Estimate: $3.35 million - $3.5 million) [6][8] - The auction will also feature significant track-focused vehicles, such as the 1959 Porsche 718 RSK Spyder (Estimate: $3.5 million - $4 million) [10] Market Trends - The current collector car market is seeing younger buyers who prioritize performance and usability, seeking rare and high-quality vehicles [5] - The Japanese Domestic Market (JDM) segment is gaining traction, with a rare 1999 Nissan Skyline CRS GT-R V-Spec by NISMO leading the offerings (Estimate: $700,000 - $850,000) [13] - The post-war classic car segment remains a staple, highlighted by a 1967 Ferrari 275 GTB/4 (Estimate: $2.5 million - $3 million) [14] Company Background - Broad Arrow Auctions is recognized as a leading global collector car auction house, having rapidly expanded its presence since its founding in 2021 [18] - The company is known for its high-quality offerings and has established flagship events, including the Monterey Jet Center Auction and others in collaboration with prestigious automotive events [18]
MASERATI MC12 STRADALE SUPERCAR LEADS BROAD ARROW'S MONTEREY JET CENTER AUCTION OFFERING
GlobeNewswire News Room· 2025-07-24 17:16
Core Insights - Broad Arrow Auctions, a Hagerty company, is set to host its flagship Monterey Jet Center Auction on August 13-14, 2025, featuring a landmark 2005 Maserati MC12 Stradale with an estimated value of $4.8 million to $5.5 million [1][2] Auction Highlights - The auction will present 170 lots, showcasing a variety of highly desirable collector cars, including modern supercars, post-war classics, and JDM icons [4][5] - The Maserati MC12 Stradale is noted for its rarity, with only 50 units produced, and is based on the Ferrari Enzo, featuring a competition-purpose body and a powerful 6.0-liter V12 engine [2][3] Supercar Segment - Additional supercar highlights include: - 2008 Koenigsegg CCXR (Estimate: $2.75 million - $3.5 million) - 2018 Bugatti Chiron (Estimate: $3 million - $3.5 million) - 1991 Ferrari F40 (Estimate: $3.35 million - $3.5 million) - 1968 Lamborghini Miura P400 (Estimate: $2 million - $2.4 million) [6] Track Stars - The auction features notable racing cars, including a 1959 Porsche 718 RSK Spyder (Estimate: $3.5 million - $4 million), which has a rich racing history and is eligible for prestigious vintage racing events [7] JDM Icons - The auction highlights the growing market for Japanese Domestic Market collector cars, featuring a rare 1999 Nissan Skyline CRS GT-R V-Spec by NISMO (Estimate: $700,000 - $850,000) [8] Post-War Classics - Key post-war classic offerings include: - 1967 Ferrari 275 GTB/4 (Estimate: $2.5 million - $3 million) - 1965 Ferrari 275 GTB (Estimate: $2.5 million - $2.8 million) - 2009 Mercedes-Benz SLR McLaren Prototype "Stealth" (Estimate: $1 million - $1.25 million) [9][10] Event Details - The auction will take place at The Monterey Jet Center in California, coinciding with Motorlux, attracting thousands of collectors and enthusiasts [14]
Hagerty Announces LOI for New Fronting Arrangement with Markel; Hagerty Re to Assume 100% of the Premium
Prnewswire· 2025-07-24 10:50
Core Viewpoint - Hagerty, Inc. has entered into a non-binding letter of intent with Markel to assume 100% of the underwriting and investment economics, with an initial fronting fee of 2% to Markel, decreasing based on policy volume starting January 1, 2026 [1][2] Company Overview - Hagerty, Inc. is a leading specialty vehicle insurance provider and automotive enthusiast brand, committed to preserving driving culture for future generations [4] - The company serves approximately 67 million Americans who identify as car enthusiasts and operates in Canada and the U.K. [4] - Hagerty has a community of nearly 890,000 members in the Hagerty Drivers Club [4] Proposed Arrangement Details - The new fronting arrangement allows Hagerty to control 100% of the premium from its high-quality underwriting, enhancing profitability and operational control without disrupting policyholders [2] - The arrangement is subject to regulatory approval and the negotiation of definitive documentation [6]
BROAD ARROW TO AUCTION DESIRABLE ASTON MARTIN ZAGATO DBZ CENTENARY COLLECTION IN MONTEREY
Globenewswire· 2025-07-22 13:35
AUGUST 13-14 AUCTION TO FEATURE EXTREMELY RARE ASTON MARTIN DB4 GT ZAGATO CONTINUATION AND DBS GT ZAGATO | JUST 19 PAIRINGS WERE BUILT AND SOLD TOGETHER IN 2019 | THE CARS CELEBRATE OVER SIXTY YEARS OF COLLABORATION BETWEEN ASTON MARTIN AND ZAGATO The extremely rare Aston Martin DBZ Centenary Collection pairing to be offered at Broad Arrow’s Monterey Jet Center Auction on August 13-14, 2025 Credit - Ryan Merrill / Courtesy of Broad Arrow Auctions DB4 GT Zagato Continuation to be offered from the DBZ Cen ...
Hagerty to Report Second Quarter 2025 Results and Host Conference Call on Monday, August 4, 2025
Prnewswire· 2025-07-21 20:15
Core Insights - Hagerty, Inc. will report its second quarter 2025 financial results on August 4, 2025, before market opens [1] - A conference call to discuss the financial results will take place at 10:00 am Eastern Time on the same day, with a live webcast available [2] Company Overview - Hagerty is a leading specialty vehicle insurance provider and an automotive enthusiast brand, dedicated to preserving driving culture for future generations [3] - The company offers specialty vehicle insurance, car valuation data, auction services, and automotive entertainment for approximately 67 million car enthusiasts in the U.S. [3] - Hagerty operates in Canada and the U.K. and has a community of nearly 890,000 members in the Hagerty Drivers Club [3]
Hagerty Family Books Announces the Release of Cabal, the Second in the Dane Cooper Series
GlobeNewswire News Room· 2025-07-17 17:30
Core Points - The article announces the release of "Cabal," the sequel to the award-winning book "Jones Point" by author Sean Hagerty [1] - "Cabal" continues the story of Dane Cooper, a Special Operations soldier, as he searches for his abducted daughter while navigating a dangerous network of criminals and law enforcement [3][4] - The narrative involves a group called The Cabal, consisting of grieving parents who take justice into their own hands, leading to high-stakes confrontations with sex traffickers and law enforcement [4][5] Summary by Sections Book Release - "Cabal" is now available for purchase and follows the success of "Jones Point," which won 1st place in the 2024 Chanticleer International Book Awards for Suspense and Thrillers [1] Plot Overview - The story revolves around Dane Cooper, who is drawn into a dark world after his daughter is kidnapped, leading him to join The Cabal, a group of parents seeking vengeance against those who harm children [3][4] - The plot includes various operations, such as an assault on sex traffickers and a military operation in Somaliland, showcasing the lengths to which Dane and The Cabal will go to protect children [4] Character Dynamics - The members of The Cabal face increasing danger as they are targeted by a mysterious killer, creating a sense of urgency as they work to protect each other [5] - The narrative highlights the tension between the vigilante actions of The Cabal and the investigations by law enforcement, particularly an FBI task force [4][5] Author Background - Sean Hagerty, the author, has over 25 years of experience in Special Operations and currently serves as a Senior Advisor for the Department of Defense Science Board [6][7] - His military background and research experience contribute to the authenticity and depth of the story [8]