Lincoln Capital LLC Has $6.14 Million Stock Holdings in Hagerty, Inc. $HGTY

Key Points

• Lincoln Capital LLC raised its stake in Hagerty, Inc. by 9.4% by acquiring an additional 52,023 shares, bringing its total ownership to 607,309 shares, which now constitutes 1.2% of its investment portfolio.
• Director Robert I. Kauffman sold 17,622 shares of Hagerty stock, with this transaction reflecting a 1.42% decrease in his ownership.
• Hagerty's shares recently opened at $12.76, with the company reporting a net margin of 4.88% and earnings per share of $0.13 for the last quarter, surpassing analysts' expectations.

Lincoln Capital LLC boosted its position in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 9.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 607,309 shares of the company's stock after buying an additional 52,023 shares during the quarter. Hagerty accounts for approximately 1.2% of Lincoln Capital LLC's investment portfolio, making the stock its 19th largest position. Lincoln Capital LLC owned approximately 0.18% of Hagerty worth $6,140,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Hagerty by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock valued at $338,000 after buying an additional 7,459 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock valued at $49,438,000 after buying an additional 743,597 shares in the last quarter. Virtu Financial LLC bought a new position in Hagerty during the first quarter valued at about $108,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hagerty by 4.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company's stock valued at $1,291,000 after buying an additional 5,667 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Hagerty by 15.3% during the first quarter. Swiss National Bank now owns 61,100 shares of the company's stock valued at $552,000 after buying an additional 8,100 shares in the last quarter. Institutional investors own 20.51% of the company's stock.

Insider Buying and Selling at Hagerty

In other news, Director Robert I. Kauffman sold 17,622 shares of Hagerty stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $12.46, for a total transaction of $219,570.12. Following the sale, the director owned 1,221,389 shares of the company's stock, valued at approximately $15,218,506.94. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 11,912,567 shares of company stock worth $107,437,585. 16.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Oppenheimer assumed coverage on Hagerty in a research report on Wednesday, September 17th. They issued an "outperform" rating and a $15.00 price target for the company. BMO Capital Markets assumed coverage on Hagerty in a research report on Monday. They issued a "market perform" rating and a $13.00 price target for the company. Keefe, Bruyette & Woods assumed coverage on Hagerty in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 price target for the company. Finally, Evercore ISI assumed coverage on Hagerty in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 price target for the company. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.20.

Hagerty Stock Performance

HGTY traded down $0.09 during midday trading on Tuesday, reaching $12.22. The company's stock had a trading volume of 35,785 shares, compared to its average volume of 108,939. The stock has a market cap of $4.18 billion, a P/E ratio of 61.08 and a beta of 0.91. The company has a fifty day simple moving average of $11.14 and a 200 day simple moving average of $9.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $13.32.

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

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.