Hagerty, Inc. (NYSE:HGTY) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its stake in Hagerty, Inc. (NYSE:HGTY) by 6.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 316,369 shares of the company’s stock after selling 20,731 shares during the period. Confluence Investment Management LLC owned 0.09% of Hagerty worth $2,860,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its position in shares of Hagerty by 188.6% during the 4th quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock valued at $309,000 after acquiring an additional 19,881 shares in the last quarter. R Squared Ltd bought a new stake in Hagerty during the fourth quarter valued at $51,000. Pembroke Management LTD acquired a new stake in shares of Hagerty during the fourth quarter worth $9,201,000. Bank of New York Mellon Corp acquired a new stake in shares of Hagerty during the fourth quarter worth $182,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock worth $100,000 after buying an additional 2,726 shares during the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Trading Up 3.3%

NYSE:HGTY opened at $9.72 on Friday. The firm has a market capitalization of $3.32 billion, a P/E ratio of 88.36 and a beta of 0.88. The business has a 50 day simple moving average of $9.03 and a 200 day simple moving average of $9.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $12.35.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The company had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. Equities research analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price objective on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th.

Insiders Place Their Bets

In related news, Director Laurie Harris sold 3,934 shares of Hagerty stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $8.41, for a total transaction of $33,084.94. Following the sale, the director now directly owns 30,349 shares in the company, valued at $255,235.09. The trade was a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert I. Kauffman sold 24,110 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $9.86, for a total transaction of $237,724.60. Following the completion of the sale, the director now directly owns 3,947,323 shares of the company’s stock, valued at $38,920,604.78. The trade was a 0.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,699 shares of company stock worth $1,497,710. Insiders own 17.90% of the company’s stock.

Hagerty Company Profile

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.