Hagerty (NYSE:HGTY) Given New $16.00 Price Target at Truist Financial

Key Points

• Truist Financial raised its Hagerty price target from $13 to $16 but maintained a “hold” rating; the target implies 10.56% downside from the stock’s then-current price.
• Hagerty shares rose 5% to $17.89 on Wednesday, near the reported 12-month high of $17.80.
• For the quarter, Hagerty reported EPS of $0.10, beating the $0.01 consensus estimate, and revenue of $354.24 million, above the $338.99 million estimate.

Hagerty (NYSE:HGTY - Get Free Report) had its price objective increased by equities researchers at Truist Financial from $13.00 to $16.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective would indicate a potential downside of 10.56% from the stock's current price.

A number of other research analysts have also issued reports on HGTY. Zacks Research lowered Hagerty from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 19th. Citizens Jmp lifted their price target on Hagerty from $15.00 to $19.00 and gave the company a "market outperform" rating in a research report on Wednesday. Weiss Ratings raised shares of Hagerty from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on Hagerty from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Hagerty from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.43.

Hagerty Stock Up 5.0%

Shares of NYSE:HGTY traded up $0.86 during midday trading on Wednesday, hitting $17.89. 258,324 shares of the company's stock traded hands, compared to its average volume of 229,244. The firm's fifty day moving average price is $14.26 and its two-hundred day moving average price is $12.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.53 and a current ratio of 1.53. Hagerty has a twelve month low of $9.36 and a twelve month high of $17.80. The company has a market cap of $6.15 billion, a PE ratio of 199.22 and a beta of 0.83.

Hagerty (NYSE:HGTY - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.09. The business had revenue of $354.24 million during the quarter, compared to the consensus estimate of $338.99 million. Hagerty had a net margin of 1.81% and a return on equity of 5.15%. On average, equities research analysts anticipate that Hagerty will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Holding Corp. Hagerty sold 1,387,500 shares of the company's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $11.47, for a total transaction of $15,914,625.00. Following the completion of the sale, the insider owned 9,250,000 shares in the company, valued at approximately $106,097,500. This represents a 13.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HGTY. Dimensional Fund Advisors LP grew its position in Hagerty by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 271,346 shares of the company's stock worth $2,857,000 after purchasing an additional 89,898 shares during the last quarter. Lincoln Capital LLC boosted its position in Hagerty by 17.0% in the first quarter. Lincoln Capital LLC now owns 950,652 shares of the company's stock valued at $10,008,000 after buying an additional 137,794 shares in the last quarter. Renaissance Technologies LLC raised its position in Hagerty by 79.2% in the 1st quarter. Renaissance Technologies LLC now owns 157,668 shares of the company's stock valued at $1,660,000 after purchasing an additional 69,700 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Hagerty during the 3rd quarter worth about $55,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Hagerty during the second quarter valued at approximately $63,000. Institutional investors and hedge funds own 20.51% of the company's stock.

Key Headlines Impacting Hagerty

Here are the key news stories impacting Hagerty this week:

• Positive Sentiment: Hagerty reported Q3 EPS of $0.10, above the $0.01 consensus, and revenue of $354.24 million, topping estimates of $338.99 million. The company also raised its 2026 net income outlook to $48–$60 million and adjusted EBITDA outlook to $305–$315 million. Hagerty Q3 results and outlook
• Positive Sentiment: Operating indicators were strong: year-to-date written premiums grew 18% to $1.099 billion, Hagerty added 402,000 members, and adjusted EBITDA rose 43% to $257 million. More than 60% of new insurance quotes came from younger buyers, a potential source of future growth. Hagerty: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Citizens JMP raised its price target to $19 from $15 and reiterated a “market outperform” rating, signaling further potential upside in its view. Citizens JMP rating
• Positive Sentiment: Broad Arrow, Hagerty’s auction business, recorded a $92.8 million Las Vegas sale, its highest-grossing auction in the city, with several collector-car record prices. This offers a favorable signal for collector-car demand, though auction totals are not equivalent to Hagerty revenue. Broad Arrow Las Vegas auction results
• Neutral Sentiment: Wells Fargo lifted its target to $17 from $14 but maintained an “equal weight” rating, contrasting with Citizens JMP’s more bullish view. Wells Fargo rating
• Negative Sentiment: Despite beating estimates, Q3 adjusted EPS was down from $0.13 a year earlier, and reported revenue declined year over year amid the previously disclosed Markel fronting transition. Net income was also weighed down by $189 million in year-to-date pre-tax transition costs, making reported results look weaker than adjusted operating measures. Hagerty Q3 adjusted earnings rise, revenue falls

About Hagerty

Hagerty, Inc is an automotive lifestyle and insurance company focused on enthusiasts and owners of classic, collector and specialty vehicles. The company provides insurance brokerage and related services designed for collector vehicles, with coverage generally underwritten by third-party insurance carriers.

In addition to insurance, Hagerty offers vehicle valuation and pricing information, membership programs, editorial content, events and enthusiast-focused digital services. Its offerings include Hagerty Drivers Club, Hagerty Valuations and Hagerty Marketplace, which connects buyers and sellers of collectible vehicles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.