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Robert Kauffman, a director at Hagerty , Inc. (NYSE:HGTY), recently sold a significant amount of the company’s Class A common stock. According to a Form 4 filing with the Securities and Exchange Commission, Kauffman disposed of a total of 24,432 shares over three consecutive days, from March 18 to March 20, 2025. The transactions were made under a Rule 10b5-1 trading plan adopted on August 9, 2024. Hagerty, with a market capitalization of $3.15 billion and strong revenue growth of ~20% over the last twelve months, maintains a "GOOD" Financial Health score according to InvestingPro analysis.
The shares were sold at prices ranging from $9.14 to $9.20, bringing the total value of the transactions to approximately $223,770. Following these sales, Kauffman, through Aldel LLC, retains ownership of 4,168,564 shares of Hagerty stock. These transactions reflect a continued involvement in the company’s equity, albeit with a reduced stake. Trading at a P/E ratio of 91x, the stock currently sits below its Fair Value according to InvestingPro analysis, which identifies 7 additional key investment tips for this stock. Access the comprehensive Pro Research Report, available for Hagerty and 1,400+ other US equities, to make more informed investment decisions.
In other recent news, Hagerty Inc. reported its financial results for the fourth quarter of 2024, surpassing analysts’ expectations. The company posted earnings per share (EPS) of $0.02, doubling the anticipated $0.01, while revenue reached $292 million, exceeding the projected $279.53 million. This marks a 19% year-over-year increase in revenue, driven by a 13% rise in written premiums and a 15% growth in commission and fee revenue. Despite these positive outcomes, Hagerty’s stock experienced a decline in pre-market trading. The company has announced plans for significant investments in technology and market expansion, aiming to enhance its growth trajectory. For the upcoming year, Hagerty projects written premiums to grow by 13-14% and total revenue to increase by 12-13%. Analysts from various firms have noted the company’s strong operational execution, yet remain cautious about potential risks such as tariff changes and market saturation. Hagerty continues to focus on expanding its specialty insurance offerings and integrating its membership experience across products and services.
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