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Robert Kauffman, a director at Hagerty , Inc. (NYSE:HGTY), recently executed a series of stock sales totaling $161,024, according to an SEC filing. The transactions occurred over three consecutive days, from March 10 to March 12, 2025. The specialty insurance provider, currently valued at $3.2 billion, has seen its shares trade significantly below InvestingPro’s Fair Value estimate.
On March 10, Kauffman sold 7,979 shares at a weighted average price of $9.50 per share. The following day, he sold an additional 5,733 shares at an average price of $9.35. On March 12, he sold 3,400 shares at an average price of $9.30. These transactions were conducted under a Rule 10b5-1 trading plan, which Kauffman adopted on August 9, 2024. The stock, currently trading at $9.32, has declined about 15% over the past six months, while maintaining a 52-week range of $8.30 to $12.35.
Following these sales, Kauffman holds 4,223,861 shares indirectly through Aldel LLC, where he has voting and investment discretion. For deeper insights into HGTY’s valuation and 8 additional key metrics, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Hagerty Inc. reported its financial results for the fourth quarter of 2024, surpassing both earnings and revenue expectations. The company’s earnings per share (EPS) came in at $0.02, doubling the forecasted $0.01, while revenue reached $292 million, exceeding the projected $279.53 million. Hagerty’s strong performance was driven by a 19% year-over-year increase in total revenue, supported by a 13% rise in written premiums and a 15% jump in commission and fee revenue. Despite these positive results, the stock experienced a decline in pre-market trading. The company has outlined plans for significant investments in technology and market expansion, aiming for continued growth. Analysts have taken note of Hagerty’s strategic initiatives, which include the launch of new products and expansion into new markets. For 2025, Hagerty anticipates written premiums growth of 13-14% and total revenue growth of 12-13%. The company also expects a 30-40% increase in net income, projecting between $102 million and $110 million.
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