Hagerty (NYSE:HGTY) Given New $11.00 Price Target at Wells Fargo & Company

Hagerty (NYSE:HGTY) had its price objective decreased by research analysts at Wells Fargo & Company from $13.00 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 0.14% from the company’s previous close.

A number of other analysts have also commented on HGTY. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen lowered shares of Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.71.

Hagerty Trading Down 3.0%

HGTY stock traded down $0.35 during trading on Thursday, hitting $11.02. The company had a trading volume of 9,733 shares, compared to its average volume of 152,483. The firm has a 50-day moving average price of $11.22 and a 200-day moving average price of $12.07. Hagerty has a 12 month low of $8.37 and a 12 month high of $14.00. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 33.39 and a beta of 0.93.

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

Insider Transactions at Hagerty

In other Hagerty news, Director Laurie Harris sold 5,531 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $11.01, for a total value of $60,896.31. Following the transaction, the director owned 36,689 shares of the company’s stock, valued at approximately $403,945.89. This represents a 13.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kenneth Ahn sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $12.41, for a total value of $620,500.00. The SEC filing for this sale provides additional information. Insiders have sold 156,881 shares of company stock worth $1,969,784 in the last three months. Insiders own 16.70% of the company’s stock.

Institutional Trading of Hagerty

A number of hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC grew its holdings in shares of Hagerty by 44.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock valued at $96,895,000 after buying an additional 2,490,359 shares during the period. Garner Asset Management Corp acquired a new stake in Hagerty during the 3rd quarter worth $3,393,000. Pembroke Management LTD lifted its holdings in Hagerty by 127.6% during the third quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock worth $27,225,000 after acquiring an additional 1,267,754 shares in the last quarter. Lincoln Capital LLC lifted its holdings in Hagerty by 29.7% during the third quarter. Lincoln Capital LLC now owns 787,387 shares of the company’s stock worth $9,441,000 after acquiring an additional 180,078 shares in the last quarter. Finally, Greenhaven Road Investment Management L.P. grew its stake in Hagerty by 47.1% in the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after acquiring an additional 853,245 shares during the period. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.