Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Hagerty, Inc. (NYSE:HGTY)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Hagerty, Inc. (NYSE:HGTY) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,239 shares of the company’s stock, valued at approximately $93,000.

Other institutional investors have also modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Hagerty in the 4th quarter valued at approximately $31,000. Ancora Advisors LLC purchased a new position in Hagerty during the fourth quarter worth $46,000. BNP Paribas Financial Markets purchased a new position in Hagerty during the fourth quarter worth $84,000. Voya Investment Management LLC purchased a new position in Hagerty during the fourth quarter worth $104,000. Finally, XTX Topco Ltd purchased a new stake in shares of Hagerty in the fourth quarter valued at $119,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Robert I. Kauffman sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $10.85, for a total transaction of $43,400.00. Following the completion of the transaction, the director directly owned 3,176,662 shares of the company’s stock, valued at approximately $34,466,782.70. This represents a 0.13% 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 the SEC website. Insiders sold 808,322 shares of company stock valued at $8,165,155 over the last three months. 17.90% of the stock is owned by insiders.

Hagerty Trading Up 3.1%

Shares of HGTY opened at $11.08 on Wednesday. The stock’s 50-day moving average is $10.04 and its two-hundred day moving average is $9.62. The stock has a market cap of $3.79 billion, a PE ratio of 55.40 and a beta of 0.90. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01.

Hagerty (NYSE:HGTY) last announced its earnings results on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. Hagerty had a return on equity of 14.09% and a net margin of 4.88%. Equities analysts forecast 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.