Neuberger Berman Group LLC Purchases 483,324 Shares of Hagerty, Inc. (NYSE:HGTY)

by · The Markets Daily

Neuberger Berman Group LLC lifted its position in shares of Hagerty, Inc. (NYSE:HGTY – Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,725,196 shares of the company’s stock after purchasing an additional 483,324 shares during the period. Neuberger Berman Group LLC owned 1.39% of Hagerty worth $45,598,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Markel Group Inc. lifted its holdings in Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after purchasing an additional 108,000 shares during the last quarter. Pembroke Management LTD bought a new position in shares of Hagerty in the fourth quarter valued at about $9,201,000. Lincoln Capital LLC lifted its stake in shares of Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock worth $4,772,000 after buying an additional 31,068 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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 buying an additional 34,500 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 buying an additional 8,258 shares during the period. 20.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Hagerty

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 value 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 $255,235.09. The trade was a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert I. Kauffman sold 9,170 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $9.06, for a total value of $83,080.20. Following the sale, the director now owns 4,102,715 shares of the company’s stock, valued at approximately $37,170,597.90. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,125 shares of company stock valued at $950,247 in the last quarter. Company insiders own 17.90% of the company’s stock.

Hagerty Trading Down 0.2 %

HGTY stock opened at $8.80 on Friday. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. The company has a market capitalization of $3.00 billion, a PE ratio of 79.95 and a beta of 0.88. The company’s 50-day simple moving average is $9.51 and its 200 day simple moving average is $10.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HGTY. JPMorgan Chase & Co. cut their price objective on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. Raymond James cut Hagerty from a “market perform” rating to an “underperform” rating in a report on Thursday, December 26th.

Check Out Our Latest Report on HGTY

Hagerty Profile

(Free Report)

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.

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