Brokerages Set Hagerty, Inc. (NYSE:HGTY) Price Target at $13.67

Hagerty, Inc. (NYSE:HGTY) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.6667.

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price objective on Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Weiss Ratings raised Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Truist Financial dropped their target price on Hagerty from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Finally, UBS Group set a $14.00 price target on Hagerty in a research note on Wednesday, June 10th.

Insider Activity

In related news, CAO Kevin M. Delaney sold 9,440 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.10, for a total value of $114,224.00. Following the completion of the transaction, the chief accounting officer owned 89,610 shares in the company, valued at $1,084,281. This trade represents a 9.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,458 shares of company stock valued at $163,227 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Hagerty

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in shares of Hagerty by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after purchasing an additional 7,459 shares during the last quarter. Geode Capital Management LLC increased its holdings in Hagerty by 2.0% in the second quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock valued at $2,576,000 after purchasing an additional 5,077 shares during the period. Marshall Wace LLP raised its position in Hagerty by 37.2% during the 2nd quarter. Marshall Wace LLP now owns 22,405 shares of the company’s stock worth $227,000 after purchasing an additional 6,072 shares during the last quarter. Bank of America Corp DE raised its position in Hagerty by 46.6% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after purchasing an additional 2,726 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after buying an additional 4,749 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Trading Up 0.7%

HGTY opened at $11.54 on Friday. The company has a market cap of $3.96 billion, a P/E ratio of 57.69 and a beta of 0.79. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $11.22 and its 200-day moving average is $11.29. Hagerty has a 1-year low of $8.81 and a 1-year high of $14.00.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Hagerty had a return on equity of 11.94% and a net margin of 5.11%.The company had revenue of $311.83 million for the quarter, compared to analyst estimates of $284.88 million. Equities research analysts predict that Hagerty will post -0.1 earnings per share for the current fiscal year.

Hagerty Company Profile

Hagerty is a specialized automotive lifestyle and insurance company that caters primarily to collectible car enthusiasts. Its core business centers on offering classic vehicle insurance policies designed to protect antique, vintage and specialty automobiles, motorcycles and boats. These policies typically feature agreed-value coverage, flexible usage options and access to restoration services, aligning with the unique needs of collectors and hobbyists.

Beyond insurance, Hagerty operates a comprehensive suite of community and content services under its automotive lifestyle brand.