Hagerty (NYSE:HGTY) Price Target Raised to $13.00 at Wells Fargo & Company

Hagerty (NYSE:HGTY) had its price objective increased by Wells Fargo & Company from $11.00 to $13.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

HGTY has been the topic of a number of other reports. Keefe, Bruyette & Woods raised their price target on shares of Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday. Wall Street Zen raised shares of Hagerty from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Truist Financial cut their target price on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. UBS Group set a $14.00 target price on shares of Hagerty in a research note on Wednesday, June 10th. Finally, Weiss Ratings raised Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.67.

Hagerty Stock Up 1.0%

NYSE HGTY opened at $12.23 on Thursday. The business has a fifty day moving average price of $10.86 and a two-hundred day moving average price of $11.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. Hagerty has a fifty-two week low of $8.81 and a fifty-two week high of $14.00. The stock has a market capitalization of $4.20 billion, a PE ratio of 61.17 and a beta of 0.79.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). Hagerty had a net margin of 5.11% and a return on equity of 11.94%. The business had revenue of $311.83 million during the quarter, compared to analyst estimates of $284.88 million. Equities analysts expect that Hagerty will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Kevin M. Delaney sold 9,440 shares of Hagerty stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $12.10, for a total value of $114,224.00. Following the transaction, the chief accounting officer directly owned 89,610 shares of the company’s stock, valued at $1,084,281. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,458 shares of company stock worth $163,227 in the last ninety days. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC boosted its stake in shares of Hagerty by 2.8% in the 4th quarter. Neuberger Berman Group LLC now owns 8,269,620 shares of the company’s stock valued at $111,144,000 after purchasing an additional 221,834 shares during the last quarter. Polar Capital Holdings Plc lifted its holdings in Hagerty by 9.4% in the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock valued at $70,042,000 after buying an additional 498,389 shares during the period. Vanguard Group Inc. lifted its holdings in Hagerty by 32.3% in the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after buying an additional 843,433 shares during the period. Greenhaven Road Investment Management L.P. boosted its position in 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 valued at $32,084,000 after acquiring an additional 853,245 shares during the last quarter. Finally, Lincoln Capital LLC grew its holdings in Hagerty by 2.4% during the 2nd quarter. Lincoln Capital LLC now owns 973,651 shares of the company’s stock worth $11,606,000 after acquiring an additional 22,999 shares during the period. Institutional investors and hedge funds 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.