Hagerty, Inc. $HGTY Stock Position Reduced by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. reduced its stake in Hagerty, Inc. by 49.3%, selling nearly 28,000 shares, which leaves them with about 28,720 shares valued at approximately $260,000.
• Insiders have sold a total of 11.9 million shares of Hagerty stock in the last ninety days, reflecting a significant sell-off valued over $107 million.
• Analysts from Keefe, Bruyette & Woods and Evercore ISI both initiated coverage on Hagerty with an "outperform" rating and a price target of $14.00.

Epoch Investment Partners Inc. trimmed its stake in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 49.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,720 shares of the company's stock after selling 27,963 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Hagerty were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC bought a new stake in shares of Hagerty during the 4th quarter worth about $46,000. BNP Paribas Financial Markets bought a new stake in shares of Hagerty during the 4th quarter worth about $84,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Hagerty during the 1st quarter worth about $93,000. Voya Investment Management LLC bought a new stake in shares of Hagerty during the 4th quarter worth about $104,000. Finally, Virtu Financial LLC bought a new stake in shares of Hagerty during the 1st quarter worth about $108,000. 20.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on HGTY. Evercore ISI began coverage on shares of Hagerty in a research report on Wednesday, August 27th. They set an "outperform" rating and a $14.00 price target on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Hagerty in a report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 target price on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $12.67.

Hagerty Price Performance

Shares of NYSE HGTY traded up $0.23 during midday trading on Monday, reaching $11.47. The company's stock had a trading volume of 189,565 shares, compared to its average volume of 278,433. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $10.46 and a 200 day moving average price of $9.74. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.11. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 57.35 and a beta of 0.91.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. The business had revenue of $368.70 million for the quarter, compared to the consensus estimate of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Insider Activity at Hagerty

In other news, major shareholder Holding Corp. Hagerty sold 8,245,000 shares of Hagerty stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $8.92, for a total value of $73,545,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert I. Kauffman sold 1,455,000 shares of Hagerty stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $8.92, for a total transaction of $12,978,600.00. Following the completion of the transaction, the director directly owned 1,721,662 shares in the company, valued at approximately $15,357,225.04. This trade represents a 45.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,970,904 shares of company stock worth $107,863,534. 16.70% of the stock is currently owned by insiders.

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.