Blue Trust Inc. Increases Stake in Hagerty, Inc. (NYSE:HGTY)

Blue Trust Inc. raised its holdings in Hagerty, Inc. (NYSE:HGTY) by 188.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,423 shares of the company’s stock after buying an additional 19,881 shares during the period. Blue Trust Inc.’s holdings in Hagerty were worth $309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new position in shares of Hagerty in the 2nd quarter valued at $139,000. Algert Global LLC purchased a new position in Hagerty in the 2nd quarter valued at about $108,000. Lakewood Asset Management LLC purchased a new position in Hagerty in the 3rd quarter valued at about $186,000. Goldstone Financial Group LLC purchased a new position in shares of Hagerty during the 3rd quarter worth about $236,000. Finally, 17 Capital Partners LLC increased its position in Hagerty by 10.0% during the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock worth $559,000 after purchasing an additional 5,000 shares in the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut Hagerty from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 26th.

Insider Activity at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 15,193 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.66, for a total transaction of $177,150.38. Following the transaction, the director now owns 4,990,974 shares in the company, valued at $58,194,756.84. This trade represents a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 276,809 shares of company stock valued at $2,986,179. Insiders own 17.90% of the company’s stock.

Hagerty Stock Performance

Shares of NYSE HGTY opened at $9.71 on Monday. The company has a market cap of $3.31 billion, a P/E ratio of 88.27 and a beta of 0.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty, Inc. has a 12 month low of $7.87 and a 12 month high of $12.35. The business’s 50 day moving average is $10.34 and its two-hundred day moving average is $10.76.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The firm had revenue of $323.37 million for the quarter, compared to analyst estimates of $318.07 million. During the same period last year, the company earned $0.05 EPS. On average, equities analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Hagerty Company Profile

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.