Hagerty, Inc. (NYSE:HGTY) Receives $14.00 Consensus Target Price from Analysts

Hagerty, Inc. (NYSE:HGTY) has been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.00.

Several analysts have recently issued reports on HGTY shares. Citigroup initiated coverage on Hagerty in a research report on Wednesday, October 1st. They issued an “outperform” rating on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. JPMorgan Chase & Co. raised their price target on shares of Hagerty from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Wells Fargo & Company initiated coverage on shares of Hagerty in a research report on Friday, October 3rd. They issued an “equal weight” rating and a $13.00 price objective for the company. Finally, JMP Securities began coverage on shares of Hagerty in a research note on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price objective on the stock.

Hagerty Stock Up 1.7%

HGTY stock opened at $12.93 on Wednesday. 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’s 50 day simple moving average is $12.89 and its 200-day simple moving average is $11.75. Hagerty has a 12 month low of $8.03 and a 12 month high of $14.00. The firm has a market capitalization of $4.42 billion, a PE ratio of 46.18 and a beta of 0.89.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $359.01 million during the quarter, compared to the consensus estimate of $354.36 million. Hagerty had a return on equity of 16.85% and a net margin of 5.85%. Equities analysts expect that Hagerty will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert I. Kauffman sold 15,270 shares of Hagerty stock in a transaction on Monday, October 27th. The stock was sold at an average price of $11.12, for a total value of $169,802.40. Following the completion of the sale, the director owned 898,097 shares of the company’s stock, valued at $9,986,838.64. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 180,952 shares of company stock worth $2,100,486 in the last 90 days. 16.70% of the stock is owned by company insiders.

Institutional Trading of Hagerty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Hagerty by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after acquiring an additional 7,459 shares during the period. Lincoln Capital LLC raised its stake in Hagerty by 9.4% during the second quarter. Lincoln Capital LLC now owns 607,309 shares of the company’s stock worth $6,140,000 after purchasing an additional 52,023 shares during the period. KLP Kapitalforvaltning AS raised its stake in Hagerty by 228.1% during the second quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after purchasing an additional 7,300 shares during the period. IFP Advisors Inc acquired a new position in shares of Hagerty in the 2nd quarter valued at $30,000. Finally, Scholtz & Company LLC purchased a new stake in shares of Hagerty during the 2nd quarter valued at $2,429,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.