Analysts Set Hagerty, Inc. (NYSE:HGTY) PT at $13.67

Shares of Hagerty, Inc. (NYSE:HGTY) have been given an average rating of “Hold” by the nine brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $13.6667.

A number of analysts have recently issued reports on HGTY shares. UBS Group set a $14.00 price target on shares of Hagerty in a report on Wednesday, June 10th. Wells Fargo & Company boosted their price objective on shares of Hagerty from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Hagerty from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th.

Hagerty Trading Down 1.8%

Shares of NYSE:HGTY opened at $11.69 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. Hagerty has a 1 year low of $8.81 and a 1 year high of $14.00. The company has a market cap of $4.01 billion, a P/E ratio of 58.45 and a beta of 0.79. The stock’s fifty day moving average price is $11.17 and its 200-day moving average price is $11.32.

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

Insider Buying and Selling at Hagerty

In other news, CAO Kevin M. Delaney sold 9,440 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.10, for a total transaction of $114,224.00. Following the transaction, the chief accounting officer directly owned 89,610 shares of the company’s stock, valued at $1,084,281. This represents a 9.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 13,458 shares of company stock worth $163,227. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Hagerty

A number of hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its holdings in Hagerty by 2.8% in the fourth quarter. Neuberger Berman Group LLC now owns 8,269,620 shares of the company’s stock valued at $111,144,000 after acquiring an additional 221,834 shares during the period. Polar Capital Holdings Plc grew its stake in shares of Hagerty by 9.4% during the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock valued at $70,042,000 after purchasing an additional 498,389 shares during the period. Vanguard Group Inc. increased its position in shares of Hagerty by 32.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after purchasing an additional 843,433 shares during the last quarter. Lincoln Capital LLC increased its position in shares of Hagerty by 2.4% during the 2nd quarter. Lincoln Capital LLC now owns 973,651 shares of the company’s stock valued at $11,606,000 after purchasing an additional 22,999 shares during the last quarter. Finally, Woodline Partners LP bought a new position in shares of Hagerty in the 3rd quarter worth approximately $3,339,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

About Hagerty

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.