Raymond James Financial Inc. Takes Position in Hagerty, Inc. (NYSE:HGTY)

Raymond James Financial Inc. acquired a new position in Hagerty, Inc. (NYSE:HGTY) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 91,067 shares of the company’s stock, valued at approximately $879,000.

A number of other large investors have also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of Hagerty in the fourth quarter valued at about $51,000. FMR LLC raised its position in shares of Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after purchasing an additional 6,700 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after buying an additional 2,726 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Hagerty during the 4th quarter valued at $182,000. Finally, Blue Trust Inc. increased its position in Hagerty by 188.6% during the fourth quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock worth $309,000 after buying an additional 19,881 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Hagerty Stock Performance

NYSE:HGTY opened at $8.40 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $2.86 billion, a PE ratio of 76.32 and a beta of 0.84. The firm has a 50 day simple moving average of $9.65 and a 200-day simple moving average of $10.29. Hagerty, Inc. has a 1-year low of $8.20 and a 1-year high of $12.35.

Insider Buying and Selling at Hagerty

In related news, Director Robert I. Kauffman sold 6,111 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $9.66, for a total value of $59,032.26. Following the sale, the director now directly owns 4,417,368 shares of the company’s stock, valued at approximately $42,671,774.88. This trade represents a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 113,641 shares of company stock worth $1,091,828. Insiders own 17.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded Hagerty from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 26th.

About Hagerty

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.