Dimensional Fund Advisors LP Raises Stake in Hagerty, Inc. (NYSE:HGTY)

Dimensional Fund Advisors LP lifted its position in Hagerty, Inc. (NYSE:HGTY - Free Report) by 225.3% in the 4th quarter, according to its most recent 13F filing with the Securities and 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.

Several other institutional investors have also recently made changes to their positions in HGTY. Epoch Investment Partners Inc. purchased a new position in Hagerty in the 4th quarter worth about $547,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Hagerty during the 4th quarter worth approximately $997,000. XTX Topco Ltd purchased a new stake in Hagerty during the 4th quarter worth approximately $119,000. Neuberger Berman Group LLC boosted its holdings 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 last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Hagerty in the 4th quarter valued at $879,000. Institutional investors own 20.51% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their target price on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th.

Insiders Place Their Bets

In other Hagerty news, Director Robert I. Kauffman sold 8,736 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $9.18, for a total transaction of $80,196.48. Following the sale, the director now owns 4,121,185 shares of the company's stock, valued at approximately $37,832,478.30. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laurie Harris sold 3,934 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $8.41, for a total transaction of $33,084.94. Following the sale, the director now directly owns 30,349 shares in the company, valued at approximately $255,235.09. The trade was a 11.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,272 shares of company stock valued at $1,364,917 over the last 90 days. 17.90% of the stock is owned by company insiders.

Hagerty Price Performance

NYSE:HGTY traded down $0.05 during trading hours on Thursday, reaching $9.20. 27,849 shares of the company were exchanged, compared to its average volume of 86,134. The stock's 50-day moving average is $9.02 and its 200-day moving average is $9.88. The firm has a market cap of $3.14 billion, a PE ratio of 83.60 and a beta of 0.88. 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, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.08 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 during the quarter, compared to analysts' expectations of $299.92 million. During the same period in the prior year, the business earned $0.04 earnings per share. On average, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal 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.