Hennessy Advisors Inc. decreased its position in shares of Hamilton Insurance Group, Ltd. (NYSE:HG – Free Report) by 8.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 255,800 shares of the company’s stock after selling 25,000 shares during the period. Hennessy Advisors Inc.’s holdings in Hamilton Insurance Group were worth $8,452,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Hamilton Insurance Group by 39.4% in the second quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company’s stock worth $196,094,000 after purchasing an additional 1,633,397 shares during the last quarter. Donald Smith & CO. Inc. purchased a new stake in Hamilton Insurance Group during the second quarter valued at about $29,884,000. Dimensional Fund Advisors LP grew its stake in shares of Hamilton Insurance Group by 32.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company’s stock valued at $40,312,000 after buying an additional 332,405 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Hamilton Insurance Group by 72.9% in the first quarter. Sei Investments Co. now owns 380,717 shares of the company’s stock worth $11,357,000 after buying an additional 160,575 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Hamilton Insurance Group by 10.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company’s stock worth $44,659,000 after buying an additional 140,474 shares during the period. Institutional investors own 29.17% of the company’s stock.
Hamilton Insurance Group Stock Down 0.1%
NYSE:HG opened at $35.02 on Monday. The firm’s 50-day moving average price is $34.88 and its 200-day moving average price is $32.29. The company has a market capitalization of $3.45 billion, a PE ratio of 6.70 and a beta of 0.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. Hamilton Insurance Group, Ltd. has a 1-year low of $22.66 and a 1-year high of $37.31.
Hamilton Insurance Group (NYSE:HG – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.87. The business had revenue of $828.04 million during the quarter, compared to analysts’ expectations of $693.46 million. Hamilton Insurance Group had a return on equity of 24.05% and a net margin of 16.83%. On average, equities analysts predict that Hamilton Insurance Group, Ltd. will post 4.90 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Barclays boosted their price objective on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Citigroup reaffirmed a “neutral” rating on shares of Hamilton Insurance Group in a research note on Wednesday, August 12th. Morgan Stanley cut their price target on shares of Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Wells Fargo & Company decreased their price objective on shares of Hamilton Insurance Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Hamilton Insurance Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.
Read Our Latest Research Report on HG
Insider Activity
In other news, insider Timothy Duffin sold 28,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $34.53, for a total transaction of $984,105.00. Following the sale, the insider owned 223,459 shares of the company’s stock, valued at $7,716,039.27. This trade represents a 11.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Brown sold 50,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the completion of the sale, the director owned 400,000 shares of the company’s stock, valued at $14,448,000. This represents a 11.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.02% of the stock is currently owned by company insiders.
Hamilton Insurance Group Profile
Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.
Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.
Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.
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