Kenneth Ahn, who serves as president of Hagerty Marketplace, sold 50,000 shares of Hagerty, Inc. Class A Common Stock (NASDAQ: HGTY) on January 26, 2026, generating proceeds of $620,500. The shares were disposed of at prices ranging from $12.30 to $12.67, which the company noted were modestly above the then-current trading price of $12.14.
The disposition was executed pursuant to a previously established Rule 10b5-1 trading plan that Ahn adopted on September 15, 2025. On the same date as the sale, Ahn, acting through Quadrifoglio Holdings LLC, also acquired 50,000 shares of Class A Common Stock as a result of the conversion of units in The Hagerty Group, LLC. The conversion price for those units was recorded as $0.
After these transactions were completed, Ahn's direct ownership in Hagerty consists of 113,593 Class A Common Stock shares. In addition, Quadrifoglio Holdings LLC holds 775,213 Released Units, which Ahn indirectly owns.
InvestingPro data cited within the company disclosure indicates a market capitalization for Hagerty of $4.28 billion. On valuation metrics, Hagerty is trading at a price-to-earnings ratio of 38.02 and is reporting earnings per share of $0.36, reflecting that the company remains profitable. The InvestingPro analysis referenced in the disclosure also indicates net income is expected to grow this year.
Hagerty's recent operating results were highlighted by third-quarter 2025 performance that exceeded analyst expectations. The company reported third-quarter earnings per share of $0.11, versus a consensus forecast of $0.08, representing a 37.5% surprise to the upside. Revenue for the quarter totaled $380 million, compared with analysts expectations of $354.35 million.
Alongside its quarterly report, Hagerty disclosed amendments to key commercial arrangements with Markel Group Inc. and Essentia Insurance Company. The amendments extend a fronting arrangement through December 31, 2028, and preserve Hagerty's subsidiary option to acquire Essentia Insurance Company during the window from January 1, 2026 through January 1, 2028.
Following the company's strong third-quarter results, Keefe, Bruyette & Woods revised its valuation view by raising its price target for Hagerty to $15.00 from $14.00 while maintaining an Outperform rating.
These developments - the insider sale and concurrent conversion of units, the company's earnings beat and revenue outperformance, and contractual amendments with insurance partners - together outline a period of transactional activity and reported financial improvement for Hagerty.
Key points
- Kenneth Ahn sold 50,000 Class A shares for $620,500 on January 26, 2026 under a Rule 10b5-1 plan and simultaneously acquired 50,000 Class A shares via unit conversion at a $0 conversion price.
- Post-transaction holdings: Ahn directly owns 113,593 Class A shares and indirectly holds 775,213 Released Units through Quadrifoglio Holdings LLC.
- Hagerty reported stronger-than-expected Q3 2025 results - EPS $0.11 versus $0.08 expected and revenue $380 million versus $354.35 million expected - and has a market cap of $4.28 billion with a P/E of 38.02.
Risks and uncertainties
- Insider transactions can reflect pre-arranged plans and conversions rather than discretionary selling; the timing and scale of the sale were governed by a 10b5-1 plan adopted on September 15, 2025 - this may limit interpretive clarity for market participants tracking insider confidence. (Sectors impacted: financial markets, investor relations)
- Hagerty's valuation metrics show a high P/E of 38.02 despite profitability, which may present valuation sensitivity if earnings projections change. (Sectors impacted: equity markets, insurance-linked financial services)
- Contractual amendments and optional acquisition windows with partners such as Essentia introduce execution risk around potential strategic moves, including the preserved option to purchase Essentia between January 1, 2026 and January 1, 2028. (Sectors impacted: insurance, specialty financial services)