Confluence Investment Management LLC Has $3.58 Million Position in Hagerty, Inc. (NYSE:HGTY)

Confluence Investment Management LLC reduced its stake in Hagerty, Inc. (NYSE:HGTY) by 3.0% during the 3rd quarter, Holdings Channel reports. The firm owned 351,930 shares of the company’s stock after selling 11,006 shares during the period. Confluence Investment Management LLC’s holdings in Hagerty were worth $3,579,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after purchasing an additional 21,331 shares in the last quarter. Goldstone Financial Group LLC acquired a new position in shares of Hagerty in the 3rd quarter valued at $236,000. Lakewood Asset Management LLC bought a new stake in shares of Hagerty in the 3rd quarter valued at $186,000. Dimensional Fund Advisors LP acquired a new stake in Hagerty during the 2nd quarter worth $139,000. Finally, Blue Trust Inc. lifted its holdings in Hagerty by 178.6% during the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after acquiring an additional 6,758 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their price target on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th.

Insider Buying and Selling at Hagerty

In other news, Director Robert I. Kauffman sold 6,318 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $11.85, for a total transaction of $74,868.30. Following the completion of the transaction, the director now directly owns 5,267,317 shares of the company’s stock, valued at $62,417,706.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert I. Kauffman sold 4,240 shares of Hagerty stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $12.01, for a total value of $50,922.40. Following the sale, the director now owns 5,255,817 shares of the company’s stock, valued at approximately $63,122,362.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert I. Kauffman sold 6,318 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.85, for a total value of $74,868.30. Following the transaction, the director now directly owns 5,267,317 shares of the company’s stock, valued at $62,417,706.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,208 shares of company stock valued at $1,305,149 in the last 90 days. 17.90% of the stock is currently owned by company insiders.

Hagerty Stock Performance

Shares of HGTY opened at $11.29 on Friday. The firm has a market cap of $3.85 billion, a P/E ratio of 94.08 and a beta of 0.78. Hagerty, Inc. has a twelve month low of $7.68 and a twelve month high of $12.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $10.88 and its two-hundred day moving average price is $10.46.

Hagerty (NYSE:HGTY) last announced its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $313.23 million during the quarter, compared to analyst estimates of $312.64 million. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. On average, analysts forecast that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Hagerty 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.