Keefe, Bruyette & Woods Issues Positive Forecast for Hagerty (NYSE:HGTY) Stock Price

Hagerty (NYSE:HGTY) had its price target increased by investment analysts at Keefe, Bruyette & Woods from $14.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 13.55% from the company’s previous close.

A number of other equities research analysts have also weighed in on HGTY. Citigroup assumed coverage on Hagerty in a research note on Wednesday, October 1st. They set an “outperform” rating for the company. JPMorgan Chase & Co. increased their target price on Hagerty from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Wells Fargo & Company began coverage on shares of Hagerty in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $13.00 price target for the company. Oppenheimer started coverage on shares of Hagerty in a report on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hagerty in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hagerty presently has a consensus rating of “Hold” and an average price target of $14.00.

Hagerty Stock Performance

Hagerty stock opened at $13.21 on Wednesday. Hagerty has a 12-month low of $8.03 and a 12-month high of $13.38. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 47.18 and a beta of 0.91. The firm’s fifty day moving average price is $11.91 and its 200 day moving average price is $10.71.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Hagerty had a net margin of 5.85% and a return on equity of 16.85%. The company had revenue of $359.01 million during the quarter, compared to analysts’ expectations of $354.36 million. Hagerty has set its FY 2025 guidance at EPS. On average, research analysts forecast that Hagerty will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert I. Kauffman sold 55,524 shares of Hagerty stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $12.16, for a total value of $675,171.84. Following the completion of the transaction, the director directly owned 1,023,525 shares of the company’s stock, valued at approximately $12,446,064. The trade was a 5.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 478,821 shares of company stock valued at $5,617,474. Company insiders own 16.70% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of large investors have recently bought and sold shares of HGTY. Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 2,726 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Hagerty in the 2nd quarter worth approximately $30,000. Osaic Holdings Inc. boosted its position in Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after purchasing an additional 4,749 shares during the period. Geode Capital Management LLC boosted its position in Hagerty by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock valued at $2,576,000 after purchasing an additional 5,077 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Hagerty by 4.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company’s stock worth $1,291,000 after buying an additional 5,667 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.

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.