Robert I. Kauffman Sells 3,100 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 3,100 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $10.19, for a total transaction of $31,589.00. Following the sale, the director owned 3,671,635 shares of the company's stock, valued at $37,413,960.65. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hagerty Stock Down 1.1%

Shares of HGTY stock traded down $0.12 on Friday, hitting $9.93. The company's stock had a trading volume of 11,331 shares, compared to its average volume of 72,455. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The firm's fifty day moving average price is $9.73 and its 200-day moving average price is $9.54. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 49.63 and a beta of 0.90.

Hagerty (NYSE:HGTY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.02 by $0.06. The firm had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same quarter last year, the firm posted $0.04 EPS. Research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HGTY. Markel Group Inc. increased its stake in Hagerty by 3.6% in the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock valued at $29,992,000 after acquiring an additional 108,000 shares during the period. Raymond James Financial Inc. acquired a new position in Hagerty in the fourth quarter valued at about $879,000. Steward Partners Investment Advisory LLC lifted its position in shares of Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after purchasing an additional 2,726 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Hagerty by 48.6% during the fourth quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after purchasing an additional 8,226 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Hagerty during the fourth quarter worth approximately $230,000. Institutional investors own 20.51% of the company's stock.

Analysts Set New Price Targets

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

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.