Raymond James Financial Inc. Buys New Stake in Hagerty, Inc. (NYSE:HGTY)

Raymond James Financial Inc. purchased a new position in shares of Hagerty, Inc. (NYSE:HGTY) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 91,067 shares of the company’s stock, valued at approximately $879,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in shares of Hagerty during the fourth quarter worth $51,000. FMR LLC boosted its position in Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after buying an additional 6,700 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after acquiring an additional 2,726 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Hagerty during the fourth quarter valued at about $182,000. Finally, Blue Trust Inc. lifted its stake in shares of Hagerty by 188.6% in the fourth quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock worth $309,000 after acquiring an additional 19,881 shares in the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Raymond James downgraded Hagerty from a “market perform” rating to an “underperform” rating in a report on Thursday, December 26th.

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 9,170 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $9.06, for a total value of $83,080.20. Following the transaction, the director now directly owns 4,102,715 shares in the company, valued at approximately $37,170,597.90. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 113,641 shares of company stock worth $1,091,828. Corporate insiders own 17.90% of the company’s stock.

Hagerty Price Performance

Shares of HGTY stock opened at $8.40 on Friday. The firm has a fifty day moving average of $9.65 and a two-hundred day moving average of $10.29. The firm has a market cap of $2.86 billion, a P/E ratio of 76.32 and a beta of 0.84. Hagerty, Inc. has a 1-year low of $8.20 and a 1-year high of $12.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01.

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.