JPMorgan Chase & Co. Has Lowered Expectations for Hagerty (NYSE:HGTY) Stock Price

Hagerty (NYSE:HGTY) had its target price decreased by JPMorgan Chase & Co. from $11.00 to $10.00 in a report issued on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

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

Hagerty Price Performance

Hagerty stock opened at $8.80 on Tuesday. The firm has a fifty day moving average of $9.51 and a 200-day moving average of $10.19. Hagerty has a 52-week low of $8.03 and a 52-week high of $12.35. 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 firm has a market capitalization of $3.00 billion, a P/E ratio of 79.95 and a beta of 0.88.

Insider Buying and Selling

In other Hagerty news, Director Laurie Harris sold 3,934 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $8.41, for a total value of $33,084.94. Following the transaction, the director now owns 30,349 shares in the company, valued at $255,235.09. The trade was a 11.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert I. Kauffman sold 9,170 shares of the firm’s stock in a transaction dated 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 $37,170,597.90. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,125 shares of company stock valued at $950,247. Corporate insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently made changes to their positions in HGTY. FMR LLC increased its stake in shares of Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after buying an additional 6,700 shares during the last quarter. Barclays PLC grew its holdings in Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after acquiring an additional 5,932 shares in the last quarter. Lincoln Capital LLC increased its position in shares of Hagerty by 6.7% in the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock worth $4,772,000 after purchasing an additional 31,068 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Hagerty by 188.6% in the 4th quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock valued at $309,000 after purchasing an additional 19,881 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Hagerty during the fourth quarter worth about $51,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.