Robert Kauffman Sells 8,286 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 8,286 shares of Hagerty stock in a transaction on Monday, October 20th. The shares were sold at an average price of $11.20, for a total value of $92,803.20. Following the completion of the transaction, the director owned 964,812 shares of the company’s stock, valued at approximately $10,805,894.40. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Hagerty Stock Performance

Shares of HGTY opened at $11.17 on Thursday. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $13.32. The stock’s 50-day simple moving average is $11.78 and its 200 day simple moving average is $10.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 55.84 and a beta of 0.92.

Hagerty (NYSE:HGTY) last posted its earnings results on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Hagerty had a return on equity of 13.76% and a net margin of 4.88%.The business had revenue of $368.70 million during the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. Research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on HGTY. Evercore ISI assumed coverage on shares of Hagerty in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 target price on the stock. JMP Securities started coverage on shares of Hagerty in a report on Wednesday, October 1st. They issued a “market outperform” rating and a $15.00 price target on the stock. BMO Capital Markets assumed coverage on Hagerty in a research note on Monday, September 22nd. They set a “market perform” rating and a $13.00 price objective for the company. Citigroup assumed coverage on Hagerty in a research report on Wednesday, October 1st. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. raised their price target on Hagerty from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Hagerty presently has an average rating of “Hold” and a consensus target price of $13.88.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HGTY. IFP Advisors Inc purchased a new stake in Hagerty during the second quarter valued at about $30,000. Osaic Holdings Inc. boosted its holdings in shares of Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after purchasing an additional 4,749 shares in the last quarter. Bank of America Corp DE increased its position in shares of Hagerty by 46.6% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after purchasing an additional 2,726 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Hagerty during the 1st quarter valued at about $93,000. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Hagerty by 228.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock valued at $106,000 after buying an additional 7,300 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

About Hagerty

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.