Raymond James Financial Inc. Makes New $879,000 Investment in Hagerty, Inc. (NYSE:HGTY)

Raymond James Financial Inc. acquired a new stake in Hagerty, Inc. (NYSE:HGTY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 91,067 shares of the company's stock, valued at approximately $879,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in Hagerty in the fourth quarter valued at approximately $31,000. R Squared Ltd acquired a new position in shares of Hagerty in the 4th quarter valued at $51,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after buying an additional 2,726 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Hagerty in the 4th quarter valued at $182,000. Finally, Legal & General Group Plc raised its stake in Hagerty by 48.6% during the 4th quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after acquiring an additional 8,226 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. dropped 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.

Insiders Place Their Bets

In related news, Director Robert I. Kauffman sold 4,915 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $9.97, for a total value of $49,002.55. Following the sale, the director now owns 4,320,314 shares in the company, valued at $43,073,530.58. This represents a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Laurie Harris sold 3,934 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,056 shares of company stock worth $647,606. Corporate insiders own 17.90% of the company's stock.

Hagerty Stock Performance

Shares of HGTY opened at $8.97 on Tuesday. The stock has a market capitalization of $3.06 billion, a P/E ratio of 81.55 and a beta of 0.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The company's fifty day moving average is $9.05 and its two-hundred day moving average is $9.97.

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.

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