BNP Paribas Financial Markets Invests $84,000 in Hagerty, Inc. (NYSE:HGTY)

BNP Paribas Financial Markets bought a new position in shares of Hagerty, Inc. (NYSE:HGTY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,670 shares of the company’s stock, valued at approximately $84,000.

Other institutional investors also recently modified their holdings of the company. Neuberger Berman Group LLC boosted its holdings in Hagerty by 11.4% during the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company’s stock worth $45,598,000 after acquiring an additional 483,324 shares during the last quarter. Markel Group Inc. lifted its position in shares of Hagerty by 3.6% during the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after purchasing an additional 108,000 shares in the last quarter. Pembroke Management LTD bought a new position in shares of Hagerty during the fourth quarter valued at about $9,201,000. Renaissance Technologies LLC lifted its position in shares of Hagerty by 21.6% during the fourth quarter. Renaissance Technologies LLC now owns 193,896 shares of the company’s stock valued at $1,871,000 after purchasing an additional 34,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Hagerty by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company’s stock valued at $1,351,000 after purchasing an additional 8,258 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price target on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th.

Hagerty Stock Up 0.5%

HGTY opened at $9.76 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day moving average is $9.04 and its 200 day moving average is $9.78. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The firm has a market capitalization of $3.34 billion, a P/E ratio of 88.73 and a beta of 0.88.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $299.92 million. During the same quarter last year, the company posted $0.04 earnings per share. Research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 33,765 shares of Hagerty stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $9.67, for a total value of $326,507.55. Following the completion of the transaction, the director now owns 4,046,145 shares in the company, valued at $39,126,222.15. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laurie Harris sold 3,934 shares of Hagerty stock in a transaction dated 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 of the company’s stock, valued at $255,235.09. The trade was a 11.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,699 shares of company stock worth $1,497,710. Insiders own 17.90% of the company’s stock.

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.