Raymond James Financial Inc. Purchases New Shares in Hagerty, Inc. (NYSE:HGTY)

Raymond James Financial Inc. purchased a new stake in Hagerty, Inc. (NYSE:HGTY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 91,067 shares of the company's stock, valued at approximately $879,000.

A number of other institutional investors have also made changes to their positions in the business. Pembroke Management LTD acquired a new stake in Hagerty in the 4th quarter valued at approximately $9,201,000. Lincoln Capital LLC boosted its position in shares of Hagerty by 6.7% in the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company's stock valued at $4,772,000 after acquiring an additional 31,068 shares during the period. Blue Trust Inc. grew 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 during the last quarter. Bank of New York Mellon Corp bought a new position in Hagerty during the fourth quarter worth $182,000. Finally, Charles Schwab Investment Management Inc. raised 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 valued at $1,351,000 after purchasing an additional 8,258 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.

Insider Activity

In other Hagerty news, Director Laurie Harris sold 3,934 shares of Hagerty stock in a transaction on Friday, April 4th. The stock was 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 directly owns 30,349 shares of the company's stock, valued at approximately $255,235.09. This trade represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert I. Kauffman sold 7,061 shares of the business's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $9.35, for a total transaction of $66,020.35. Following the completion of the sale, the director now owns 4,398,439 shares in the company, valued at $41,125,404.65. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,186 shares of company stock worth $1,016,267. Corporate insiders own 17.90% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have issued reports on HGTY. Raymond James lowered shares of Hagerty from a "market perform" rating to an "underperform" rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. decreased their target price on Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday.

Hagerty Stock Performance

Hagerty stock traded up $0.28 on Wednesday, hitting $8.62. The company's stock had a trading volume of 80,621 shares, compared to its average volume of 82,492. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The firm has a market cap of $2.94 billion, a P/E ratio of 78.36 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average price of $9.52 and a 200-day moving average price of $10.20.

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.