Hagerty, Inc. (NYSE:HGTY) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Hagerty, Inc. (NYSE:HGTY) by 7.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 64,205 shares of the company’s stock after purchasing an additional 4,575 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hagerty were worth $620,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of HGTY. Neuberger Berman Group LLC boosted its stake in Hagerty by 11.4% during the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company’s stock worth $45,598,000 after purchasing an additional 483,324 shares during the period. Markel Group Inc. boosted its stake in Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock worth $29,992,000 after purchasing an additional 108,000 shares during the period. Pembroke Management LTD acquired a new stake in Hagerty during the 4th quarter worth $9,201,000. Renaissance Technologies LLC boosted its stake in Hagerty by 21.6% during the 4th quarter. Renaissance Technologies LLC now owns 193,896 shares of the company’s stock worth $1,871,000 after purchasing an additional 34,500 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Hagerty by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company’s stock worth $1,351,000 after purchasing an additional 8,258 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Stock Down 1.1%

Shares of Hagerty stock opened at $9.52 on Thursday. The company has a market cap of $3.25 billion, a P/E ratio of 86.55 and a beta of 0.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The firm has a fifty day moving average of $9.19 and a two-hundred day moving average of $9.72.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The company had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price target on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th.

Insiders Place Their Bets

In other news, Director Robert I. Kauffman sold 8,736 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $9.18, for a total value of $80,196.48. Following the completion of the transaction, the director now owns 4,121,185 shares in the company, valued at $37,832,478.30. This trade represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laurie Harris sold 3,934 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $8.41, for a total transaction of $33,084.94. Following the completion of the transaction, the director now owns 30,349 shares of the company’s stock, valued at $255,235.09. This represents a 11.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,609 shares of company stock worth $2,055,442. 17.90% of the stock is owned by insiders.

About Hagerty

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.