Dimensional Fund Advisors LP Acquires 42,967 Shares of Hagerty, Inc. (NYSE:HGTY)

Dimensional Fund Advisors LP lifted its position in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 225.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,034 shares of the company's stock after acquiring an additional 42,967 shares during the quarter. Dimensional Fund Advisors LP's holdings in Hagerty were worth $599,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Neuberger Berman Group LLC raised its position in shares of Hagerty by 11.4% in the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company's stock valued at $45,598,000 after acquiring an additional 483,324 shares during the period. Markel Group Inc. increased its position 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 valued at $29,992,000 after buying an additional 108,000 shares in the last quarter. Pembroke Management LTD acquired a new stake in Hagerty during the 4th quarter worth $9,201,000. Lincoln Capital LLC lifted its holdings in Hagerty by 6.7% during the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company's stock worth $4,772,000 after acquiring an additional 31,068 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Hagerty by 21.6% in the fourth quarter. Renaissance Technologies LLC now owns 193,896 shares of the company's stock valued at $1,871,000 after acquiring an additional 34,500 shares during the period. Institutional investors and hedge funds own 20.51% of the company's stock.

Wall Street Analyst Weigh In

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

Hagerty Stock Down 2.0%

Shares of HGTY stock traded down $0.19 on Tuesday, hitting $9.53. 106,579 shares of the stock were exchanged, compared to its average volume of 86,168. The firm has a market capitalization of $3.26 billion, a P/E ratio of 86.64 and a beta of 0.88. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The business has a 50-day moving average of $9.02 and a 200 day moving average of $9.90. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23.

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

Insider Activity

In other Hagerty news, Director Laurie Harris sold 3,934 shares of Hagerty stock in a transaction on Friday, April 4th. The shares were sold at an average price of $8.41, for a total transaction of $33,084.94. Following the completion of the transaction, the director now directly owns 30,349 shares of the company's stock, valued at $255,235.09. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert I. Kauffman sold 33,765 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $9.67, for a total transaction of $326,507.55. Following the completion of the transaction, the director now directly owns 4,046,145 shares in the company, valued at $39,126,222.15. The trade was a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,514 shares of company stock valued at $1,397,434. 17.90% of the stock is owned by insiders.

Hagerty 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.