TD Asset Management Inc Takes $1.06 Million Position in Hagerty, Inc. $HGTY

TD Asset Management Inc acquired a new position in Hagerty, Inc. (NYSE:HGTY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 87,856 shares of the company’s stock, valued at approximately $1,058,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HGTY. Bank of America Corp DE increased its holdings in shares of Hagerty by 46.6% in the 2nd 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 during the period. Osaic Holdings Inc. boosted its position in Hagerty by 2,374.5% during the second 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 in the last quarter. Geode Capital Management LLC boosted its position in Hagerty by 2.0% during the second 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 in the last quarter. Marshall Wace LLP raised its holdings in Hagerty by 37.2% in the second quarter. Marshall Wace LLP now owns 22,405 shares of the company’s stock worth $227,000 after purchasing an additional 6,072 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Hagerty by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after purchasing an additional 7,459 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Hagerty

In other news, insider Kenneth Ahn sold 164,870 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $12.79, for a total value of $2,108,687.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 351,350 shares of company stock valued at $4,474,572 over the last quarter. 16.70% of the stock is currently owned by corporate insiders.

Hagerty Trading Down 1.1%

Shares of Hagerty stock opened at $10.70 on Friday. The firm’s 50 day simple moving average is $12.38 and its two-hundred day simple moving average is $12.28. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 32.43 and a beta of 0.90. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $14.00. 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 announced its quarterly earnings data on Thursday, February 26th. The company reported $0.08 earnings per share 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 net margin of 5.98% and a return on equity of 16.24%. Analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Hagerty Company 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.