Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 9,726 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 9,726 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $10.01, for a total transaction of $97,357.26. Following the completion of the sale, the director now owns 3,867,692 shares of the company's stock, valued at approximately $38,715,596.92. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Hagerty Trading Up 0.5%

Shares of NYSE:HGTY traded up $0.05 during midday trading on Friday, hitting $10.08. 28,458 shares of the stock traded hands, compared to its average volume of 85,754. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The business's 50 day moving average is $9.11 and its two-hundred day moving average is $9.77. The stock has a market capitalization of $3.44 billion, a PE ratio of 91.55 and a beta of 0.91. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The business had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. During the same period in the previous year, the firm earned $0.04 EPS. As a group, research analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Hagerty

Several large investors have recently bought and sold shares of HGTY. Markel Group Inc. increased its stake in shares of Hagerty by 3.6% in the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock worth $29,992,000 after acquiring an additional 108,000 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Hagerty in the fourth quarter worth about $879,000. Pembroke Management LTD purchased a new stake in Hagerty in the fourth quarter worth about $9,201,000. Steward Partners Investment Advisory LLC increased its stake 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 valued at $100,000 after purchasing an additional 2,726 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings 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 valued at $243,000 after purchasing an additional 8,226 shares during the last quarter. 20.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.