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Anthony J. Kuczinski, a director at Hagerty , Inc. (NYSE:HGTY), recently increased his stake in the $3.2 billion market cap insurance company by purchasing shares worth a total of $19,189. According to a recent SEC filing, Kuczinski acquired 865 shares of Class A Common Stock on March 10 at a weighted average price of $9.68 per share, with the transaction executed in multiple trades at prices ranging from $9.61 to $9.73. InvestingPro analysis shows the stock is currently trading near its 52-week low of $8.30, suggesting potential value opportunity.
The following day, March 11, he purchased an additional 1,135 shares at a weighted average price of $9.53 per share, with trades executed at prices between $9.49 and $9.56. These transactions bring Kuczinski’s total holdings to 10,449 shares.
These purchases reflect continued confidence in Hagerty, a company known for its services within the insurance industry.
In other recent news, Hagerty Inc. reported its financial results for the fourth quarter of 2024, exceeding earnings expectations with an EPS of $0.02, compared to the forecasted $0.01. The company’s revenue also surpassed estimates, reaching $292 million against a projected $279.53 million, marking a 19% year-over-year growth. Despite these positive financial results, Hagerty’s stock experienced a decline in pre-market trading. The company has announced plans for significant investments in technology and market expansion to support its growth strategy. Additionally, Hagerty forecasts written premiums growth of 13-14% and total revenue growth of 12-13% for 2025. Analysts from Citizens JMP and Truist have shown interest in Hagerty’s strategies concerning tariffs and cross-selling opportunities. The company continues to focus on expanding its specialty insurance offerings and enhancing its membership experience. Hagerty’s technology investments are intended to create a scalable platform for future growth, with expectations of increased efficiency and profitability in the coming years.
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