Brokerages Set Hagerty, Inc. (NYSE:HGTY) Price Target at $14.00

Shares of Hagerty, Inc. (NYSE:HGTY) have been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $14.00.

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Hagerty from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th.

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.

Institutional Investors Weigh In On Hagerty

A number of large investors have recently bought and sold shares of HGTY. Neuberger Berman Group LLC increased its holdings in Hagerty by 2.8% in the 4th quarter. Neuberger Berman Group LLC now owns 8,269,620 shares of the company’s stock worth $111,144,000 after buying an additional 221,834 shares during the period. Polar Capital Holdings Plc boosted its holdings in shares of Hagerty by 9.4% in the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock valued at $70,042,000 after acquiring an additional 498,389 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Hagerty by 32.3% in the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock worth $41,612,000 after acquiring an additional 843,433 shares during the period. Greenhaven Road Investment Management L.P. raised its holdings in shares of Hagerty by 47.1% during the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after purchasing an additional 853,245 shares during the last quarter. Finally, Pembroke Management LTD lifted its position in Hagerty by 127.6% during the third quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock valued at $27,225,000 after purchasing an additional 1,267,754 shares during the period. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Trading Down 1.9%

Hagerty stock opened at $11.54 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $3.95 billion, a PE ratio of 41.21 and a beta of 0.89. The stock has a 50-day moving average of $12.70 and a two-hundred day moving average of $12.28. Hagerty has a one year low of $8.03 and a one year high of $14.00.

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.