Hagerty (NYSE:HGTY) Price Target Raised to $13.00 at JPMorgan Chase & Co.

Hagerty (NYSE:HGTY) had its price target boosted by JPMorgan Chase & Co. from $12.00 to $13.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Wall Street Zen raised Hagerty from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Keefe, Bruyette & Woods boosted their price target on Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Wells Fargo & Company increased their price objective on Hagerty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, UBS Group set a $14.00 price objective on Hagerty in a report on Wednesday, June 10th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hagerty currently has a consensus rating of “Hold” and an average target price of $13.67.

Hagerty Stock Performance

NYSE HGTY opened at $12.29 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 61.44 and a beta of 0.79. The company’s fifty day moving average is $10.99 and its two-hundred day moving average is $11.38. Hagerty has a 52-week low of $8.81 and a 52-week high of $14.00.

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

Insider Transactions at Hagerty

In other Hagerty news, CAO Kevin M. Delaney sold 9,440 shares of Hagerty stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.10, for a total transaction of $114,224.00. Following the completion of the sale, the chief accounting officer owned 89,610 shares of the company’s stock, valued at approximately $1,084,281. The trade was a 9.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 13,458 shares of company stock worth $163,227. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Hagerty

Several hedge funds have recently bought and sold shares of HGTY. Neuberger Berman Group LLC boosted its position in shares of Hagerty by 2.8% during the fourth 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 grew its holdings in shares of Hagerty by 9.4% during the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after buying an additional 498,389 shares in the last quarter. Vanguard Group Inc. raised its position in Hagerty by 32.3% in the 3rd 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 last quarter. Greenhaven Road Investment Management L.P. lifted its stake in Hagerty by 47.1% in the 3rd 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 in the last quarter. Finally, Lincoln Capital LLC lifted its stake in Hagerty by 2.4% in the 2nd quarter. Lincoln Capital LLC now owns 973,651 shares of the company’s stock valued at $11,606,000 after acquiring an additional 22,999 shares in the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.