87,856 Shares in Hagerty, Inc. $HGTY Bought by TD Asset Management Inc

TD Asset Management Inc purchased a new stake in Hagerty, Inc. (NYSE:HGTY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 87,856 shares of the company’s stock, valued at approximately $1,058,000.

A number of other institutional investors have also modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in shares of Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after buying an additional 4,749 shares during the period. Bank of America Corp DE raised its position in Hagerty by 46.6% during the second 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 in the last quarter. Arizona State Retirement System purchased a new stake in Hagerty in the 3rd quarter worth approximately $141,000. Marshall Wace LLP grew its stake 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 purchasing an additional 6,072 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Hagerty by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock valued at $338,000 after purchasing an additional 7,459 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Price Performance

NYSE:HGTY opened at $10.70 on Friday. The stock has a 50 day moving average of $12.38 and a two-hundred day moving average of $12.28. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $14.00. The firm has a market cap of $3.66 billion, a P/E ratio of 32.43 and a beta of 0.90. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 0.27.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $323.93 million. On average, analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Hagerty

In related news, insider Kenneth Ahn sold 164,870 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. Insiders have sold 351,350 shares of company stock valued at $4,474,572 over the last quarter. Company insiders own 16.70% 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.