Arizona State Retirement System Takes Position in Hamilton Insurance Group, Ltd. (NYSE:HG)

Arizona State Retirement System bought a new stake in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,890 shares of the company's stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HG. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hamilton Insurance Group by 15.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 128,136 shares of the company's stock valued at $2,438,000 after purchasing an additional 17,342 shares in the last quarter. Swiss National Bank increased its position in shares of Hamilton Insurance Group by 8.6% during the 4th quarter. Swiss National Bank now owns 54,300 shares of the company's stock worth $1,033,000 after purchasing an additional 4,300 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Hamilton Insurance Group during the 4th quarter worth approximately $431,000. Sei Investments Co. increased its holdings in shares of Hamilton Insurance Group by 11.1% during the 4th quarter. Sei Investments Co. now owns 285,055 shares of the company's stock worth $5,425,000 after acquiring an additional 28,452 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Hamilton Insurance Group during the 4th quarter worth approximately $367,000. 29.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HG. Barclays upped their price objective on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. BMO Capital Markets reiterated a "market perform" rating and issued a $23.00 target price on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Wells Fargo & Company dropped their target price on Hamilton Insurance Group from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, Morgan Stanley increased their target price on Hamilton Insurance Group from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.17.

Hamilton Insurance Group Stock Up 2.9%

Shares of NYSE:HG opened at $21.64 on Wednesday. Hamilton Insurance Group, Ltd. has a 52-week low of $15.31 and a 52-week high of $22.33. The firm has a market capitalization of $2.20 billion, a P/E ratio of 7.14 and a beta of 0.82. The stock has a 50 day moving average price of $21.14 and a 200-day moving average price of $19.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.71.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.43. The company had revenue of $843.31 million for the quarter, compared to the consensus estimate of $498.00 million. Hamilton Insurance Group had a return on equity of 12.41% and a net margin of 13.28%. As a group, equities research analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Insider Activity

In related news, CEO Adrian Joseph Daws sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the sale, the chief executive officer owned 190,440 shares in the company, valued at approximately $4,189,680. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Therese M. Vaughan purchased 4,750 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $21.05 per share, with a total value of $99,987.50. Following the acquisition, the director directly owned 20,892 shares of the company's stock, valued at $439,776.60. This trade represents a 29.43% increase in their position. The disclosure for this purchase can be found here. Company insiders own 17.46% of the company's stock.

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.

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