Hagerty, Inc. $HGTY Shares Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC boosted its holdings in Hagerty, Inc. (NYSE:HGTY) by 44.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,047,786 shares of the company’s stock after purchasing an additional 2,490,359 shares during the quarter. Neuberger Berman Group LLC owned approximately 2.35% of Hagerty worth $96,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HGTY. Osaic Holdings Inc. boosted its stake in Hagerty by 2,374.5% in 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 last quarter. Bank of America Corp DE increased its stake in shares of Hagerty by 46.6% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after acquiring an additional 2,726 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of Hagerty during the 3rd quarter valued at about $141,000. Kingsview Wealth Management LLC purchased a new position in shares of Hagerty during the 3rd quarter worth about $159,000. Finally, Marshall Wace LLP lifted its holdings in shares of 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 acquiring an additional 6,072 shares during the period. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hagerty

In other news, insider Kenneth Ahn sold 164,870 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 351,350 shares of company stock worth $4,474,572. Corporate insiders own 16.70% of the company’s stock.

Hagerty Trading Down 4.0%

NYSE:HGTY opened at $10.24 on Friday. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 31.03 and a beta of 0.90. Hagerty, Inc. has a one year low of $8.03 and a one year high of $14.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.00 and a current ratio of 1.63. The business’s 50-day simple moving average is $12.31 and its 200 day simple moving average is $12.27.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Hagerty had a return on equity of 16.24% and a net margin of 5.98%.The firm had revenue of $388.10 million during the quarter, compared to analyst estimates of $323.93 million. As a group, sell-side analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HGTY shares. Wall Street Zen cut shares of Hagerty from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Keefe, Bruyette & Woods increased their price target on shares of Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Hagerty 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.