Hamilton Insurance Group, Ltd. $HG Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in Hamilton Insurance Group by 10%, now owning approximately 1.89% of the company valued at around $39.7 million.
• Several institutional investors, including Nuveen LLC and Victory Capital Management Inc., have made significant changes to their positions, with Victory increasing its holdings by 279.5%.
• Hamilton Insurance Group reported earnings of $1.55 per share, surpassing analyst expectations, with revenues reaching $712.03 million for the quarter.

American Century Companies Inc. lessened its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,913,257 shares of the company's stock after selling 211,621 shares during the quarter. American Century Companies Inc. owned approximately 1.89% of Hamilton Insurance Group worth $39,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in Hamilton Insurance Group by 92.2% during the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after purchasing an additional 685 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Hamilton Insurance Group by 295.1% during the 4th quarter. Sterling Capital Management LLC now owns 1,517 shares of the company's stock worth $29,000 after purchasing an additional 1,133 shares during the last quarter. CWM LLC boosted its stake in Hamilton Insurance Group by 172.6% during the 1st quarter. CWM LLC now owns 1,698 shares of the company's stock worth $35,000 after purchasing an additional 1,075 shares during the last quarter. Bfsg LLC boosted its stake in Hamilton Insurance Group by 50.2% during the 1st quarter. Bfsg LLC now owns 6,103 shares of the company's stock worth $127,000 after purchasing an additional 2,040 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Hamilton Insurance Group during the 4th quarter worth $206,000. Institutional investors and hedge funds own 29.17% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HG. Morgan Stanley reaffirmed a "cautious" rating and set a $23.00 target price on shares of Hamilton Insurance Group in a research note on Monday, August 18th. JMP Securities lifted their price target on Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Barclays increased their price target on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods increased their price target on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Finally, Zacks Research raised shares of Hamilton Insurance Group to a "hold" rating in a research note on Tuesday, August 12th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $25.43.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Alexander James Baker sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the completion of the transaction, the insider owned 116,338 shares of the company's stock, valued at $2,767,681.02. This trade represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $24.00, for a total transaction of $455,712.00. Following the completion of the transaction, the insider directly owned 64,512 shares of the company's stock, valued at $1,548,288. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,988 shares of company stock valued at $730,452 in the last 90 days. Company insiders own 17.46% of the company's stock.

Hamilton Insurance Group Trading Down 2.2%

NYSE:HG traded down $0.54 on Monday, reaching $23.56. 179,653 shares of the company's stock were exchanged, compared to its average volume of 517,415. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6.51 and a beta of 0.81. The business has a fifty day moving average of $21.74 and a 200-day moving average of $20.51. Hamilton Insurance Group, Ltd. has a 52-week low of $16.80 and a 52-week high of $24.54.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.54. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. As a group, analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current year.

Hamilton Insurance Group Company Profile

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.