Hagerty, Inc. (NYSE:HGTY) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in shares of Hagerty, Inc. (NYSE:HGTY) by 225.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,034 shares of the company’s stock after buying an additional 42,967 shares during the period. Dimensional Fund Advisors LP’s holdings in Hagerty were worth $599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Markel Group Inc. lifted its holdings in Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock worth $29,992,000 after buying an additional 108,000 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Hagerty in the 4th quarter valued at approximately $879,000. Lincoln Capital LLC increased its stake in shares of 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 during the period. Pembroke Management LTD acquired a new position in Hagerty during the 4th quarter worth approximately $9,201,000. Finally, Steward Partners Investment Advisory LLC raised its position in Hagerty by 35.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock worth $100,000 after acquiring an additional 2,726 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 4,277 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.10, for a total transaction of $43,197.70. Following the transaction, the director now owns 4,291,733 shares in the company, valued at approximately $43,346,503.30. This trade represents a 0.10% decrease in their position. 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 Hagerty stock in a transaction 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 completion of the transaction, the director now owns 30,349 shares in the company, valued at $255,235.09. This trade represents a 11.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,276 shares of company stock worth $1,004,821. Corporate insiders own 17.90% of the company’s stock.

Hagerty Stock Up 0.8%

Shares of NYSE HGTY opened at $9.72 on Friday. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 88.39 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. The stock’s 50-day simple moving average is $9.01 and its 200-day simple moving average is $9.92.

Hagerty (NYSE:HGTY) 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. The company had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, equities analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

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.