Hagerty rises 7.2% after quarterly results and raised profit outlook

What happened

Hagerty (HGTY) rose 7.2% on November 3, 2026, after third-quarter results that beat estimates and a raised full-year profit outlook. The company reported quarterly earnings per share of $0.10 against $0.01 expected, 831.1% above estimates, and said Written Premium grew 18% year-over-year to $1,099 million while Earned Premium increased 42% to $757 million. Seeking Alpha and Zacks Investment Research summarized management comments that cited improved underwriting performance and expansion opportunities via distribution partnerships, auctions and international operations.

How big was the move

The stock closed at $17.03 after opening 4.3% above the previous close and traded at 1.7 times its 20-day average. Volume and the size of the gain signaled a company-specific reaction rather than a broad-market move. The session’s change was 4.6 times a typical daily move for this stock, and it outpaced the Financial Services sector median by 7.8 percentage points on the day. Over the last five sessions the stock rose 9.4% while the S&P 500 over five sessions fell 2.0%.

Earnings were released at this session, so the results were the direct cause of the move. The stock’s beta of 0.68 shows it tends to move less than the market, underscoring that the jump reflected firm-specific news rather than broad investor rotation. In the past five years the stock had 16 sessions with a gain of at least 7.2%. Twenty trading days later the median result was a decline of 1.2%, and 7 of 16 were higher.

The technical picture

The stock is trading in a clear uptrend: the 50-day average is above the 200-day average, and the stock has traded above the 200-day average for 65 consecutive trading days. It was 11.2% above its 20-day moving average and 19.4% above its 50-day moving average. At the close it sat 1.5% below the 52-week high.

The Relative Strength Index (14 days) stood at 80, a level often called overbought, reflecting strong short-term momentum. Momentum metrics were pronounced: the PromtFinance Momentum score was 95 (Exceptional). Volatility was 25% annualized over 60 days, lower than 89% of its own readings over five years, which indicates current price swings are modest relative to recent history. Over one month the stock rose 23.9% and over three months it rose 26.0%.

Fundamentals and valuation

For the four quarters through September 30, 2026 Hagerty reported revenue of $1.38 billion, up 1.3% from a year earlier, and diluted earnings per share of $0.07, with earnings per share growth from a year earlier fell 75.8%. Gross margin narrowed to 54.8% from 72.5 a year earlier, and operating margin declined to 1.5% from 8.3. The company reported a free-cash-flow margin of 20.3% and a return on invested capital of 2.4%.

The balance sheet showed net cash of $593.6 million and share count over one year decreased by 69.0%. Those cash metrics support operating flexibility even as margins compressed. Valuation appeared rich by several measures. The stock traded at 249.3 times trailing earnings, the highest reading of the past five years versus a five-year median of 66.3 times earnings. Price to forward earnings was 599.5 times expected earnings and free-cash-flow yield was 5.2%.

PromtFinance ranked the stock’s Value at 22 (Very weak) and Growth at 32 (Weak), while Quality scored 78 (Positive). Stability was 58 (Neutral) and Momentum was 95 (Exceptional).

Earnings and analyst expectations

Hagerty’s report on November 3, 2026, showed earnings per share of $0.10 against $0.01 expected, 831.1% above estimates, marking two consecutive quarters beating estimates. The average surprise over the last four reports was 100.0% above estimates, and the typical two-day reaction after recent reports was rose 4.9%.

Analysts were mixed. The consensus price target was $14.00, 17.8% below the closing price, based on five analysts with ratings. Twenty percent of those ratings were Buy or Strong Buy and the consensus rating was Hold. PromtFinance Revisions score was 35 (Weak), suggesting limited upward revision momentum from analysts so far.

What to watch

• November 4, 2026: next report date listed in the data
• Written Premium grew 18% year-over-year to $1,099 million for the first nine months
• Policy-in-force grew 18% to 1.9 million members after adding a record 402,000 new members in the first nine months
• Price to trailing earnings: 249.3 times trailing earnings
• Similar sessions in the past five years: 16 sessions with a gain of at least 7.2%; twenty trading days later the median result was a decline of 1.2%, and 7 of 16 were higher.