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Robert Kauffman, a director at Hagerty , Inc. (NYSE:HGTY), a $3.1 billion market cap company with a "GOOD" InvestingPro Financial Health score, has reported the sale of 20,888 shares of Class A Common Stock, according to a recent SEC filing. The transactions, executed on March 21 and March 24, 2025, were part of a prearranged trading plan under Rule 10b5-1. The shares were sold at prices ranging from $9.14 to $9.24, totaling approximately $191,963. Following these sales, Kauffman holds 4,147,676 shares indirectly through Aldel LLC. The stock, currently trading at $9.37, shows technical signs of being oversold, according to InvestingPro analysis, which offers 8 additional key insights about HGTY’s valuation and growth prospects.
In other recent news, Hagerty Inc. reported its financial results for the fourth quarter of 2024, surpassing earnings expectations with an earnings per share (EPS) of $0.02, doubling the forecasted $0.01. The company also exceeded revenue projections, bringing in $292 million compared to the anticipated $279.53 million, marking a 19% year-over-year increase. Despite these positive financial results, the company’s stock experienced a decline in pre-market trading. Hagerty’s strategic initiatives, including significant investments in technology and market expansion, have been highlighted as key drivers of its strong financial performance. The company reported a six-fold increase in operating income, reaching $66 million, and a 178% rise in net income, totaling $78 million for the year. Analysts from Citizens JMP and Truist have shown interest in the company’s cross-selling strategies and the potential impacts of tariffs on operational costs. Hagerty’s leadership has emphasized the importance of its technology investments for future growth, with plans to continue expanding its specialty insurance offerings and marketplace business. The company’s outlook for 2025 includes projected growth in written premiums and total revenue, along with expectations for significant net income gains.
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