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

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

A number of other institutional investors have also modified their holdings of HGTY. Bank of America Corp DE lifted its position 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 worth $87,000 after purchasing an additional 2,726 shares during the last quarter. Osaic Holdings Inc. grew its stake in Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after purchasing an additional 4,749 shares in the last quarter. Geode Capital Management LLC increased its holdings in Hagerty by 2.0% in the second quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock valued at $2,576,000 after buying an additional 5,077 shares during the last quarter. Marshall Wace LLP increased its holdings in Hagerty by 37.2% in the second quarter. Marshall Wace LLP now owns 22,405 shares of the company’s stock valued at $227,000 after buying an additional 6,072 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Hagerty by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock valued at $338,000 after buying an additional 7,459 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Trading Down 4.0%

NYSE:HGTY opened at $10.24 on Friday. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $14.00. The firm has a market capitalization of $3.50 billion, a P/E ratio of 31.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.00. The business has a 50 day simple moving average of $12.31 and a 200 day simple moving average of $12.27.

Hagerty (NYSE:HGTY) last issued its earnings results on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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%. Equities research analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, insider Kenneth Ahn sold 164,870 shares of the company’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 Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 351,350 shares of company stock worth $4,474,572 over the last three months. Insiders own 16.70% of the company’s stock.

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.