Markel Group Inc. Grows Stock Holdings in Hagerty, Inc. (NYSE:HGTY)

Markel Group Inc. boosted its stake in Hagerty, Inc. (NYSE:HGTY) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,108,000 shares of the company’s stock after acquiring an additional 108,000 shares during the period. Markel Group Inc.’s holdings in Hagerty were worth $29,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pembroke Management LTD purchased a new stake in Hagerty in the fourth quarter valued at $9,201,000. Lincoln Capital LLC lifted its position in 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in Hagerty by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company’s stock valued at $1,351,000 after acquiring an additional 8,258 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after acquiring an additional 76,740 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Hagerty in the fourth quarter valued at about $879,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert I. Kauffman sold 5,475 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $11.18, for a total transaction of $61,210.50. Following the transaction, the director now directly owns 4,511,010 shares in the company, valued at $50,433,091.80. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 122,873 shares of company stock valued at $1,213,873. Insiders own 17.90% of the company’s stock.

Hagerty Price Performance

Shares of NYSE:HGTY opened at $9.35 on Tuesday. The company has a 50-day simple moving average of $9.84 and a 200-day simple moving average of $10.60. Hagerty, Inc. has a one year low of $8.30 and a one year high of $12.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 84.95 and a beta of 0.84.

Wall Street Analyst Weigh In

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

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.