Insider Selling: Hamilton Insurance Group (NYSE:HG) Insider Sells 47,000 Shares of Stock

Hamilton Insurance Group, Ltd. (NYSE:HG) insider Keith Donald Bernhard sold 47,000 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $24.37, for a total value of $1,145,390.00. Following the sale, the insider owned 53,893 shares in the company, valued at approximately $1,313,372.41. This trade represents a 46.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Hamilton Insurance Group Price Performance

Shares of NYSE:HG opened at $23.75 on Wednesday. The business’s fifty day moving average price is $22.40 and its two-hundred day moving average price is $20.94. The stock has a market cap of $2.38 billion, a PE ratio of 6.56 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69. Hamilton Insurance Group, Ltd. has a one year low of $16.80 and a one year high of $24.67.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%.The firm had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $519.50 million. On average, analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley restated a “cautious” rating and set a $23.00 price objective on shares of Hamilton Insurance Group in a report on Monday, August 18th. Wells Fargo & Company raised their price objective on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Keefe, Bruyette & Woods raised their price objective on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Citigroup assumed coverage on Hamilton Insurance Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, Barclays raised their price objective on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hamilton Insurance Group presently has an average rating of “Hold” and an average target price of $25.43.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of Hamilton Insurance Group by 92.2% in the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock worth $30,000 after buying an additional 685 shares during the period. Arizona State Retirement System purchased a new position in shares of Hamilton Insurance Group in the 1st quarter worth $267,000. Victory Capital Management Inc. raised its position in shares of Hamilton Insurance Group by 279.5% in the 1st quarter. Victory Capital Management Inc. now owns 471,128 shares of the company’s stock worth $9,766,000 after buying an additional 346,998 shares during the period. Swiss National Bank raised its position in shares of Hamilton Insurance Group by 60.4% in the 1st quarter. Swiss National Bank now owns 87,100 shares of the company’s stock worth $1,806,000 after buying an additional 32,800 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Hamilton Insurance Group by 18.8% in the 4th quarter. Bank of America Corp DE now owns 212,586 shares of the company’s stock worth $4,046,000 after buying an additional 33,613 shares during the period. 29.17% of the stock is owned by hedge funds and other institutional investors.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.