Cubist Systematic Strategies LLC Sells 105,992 Shares of Hamilton Insurance Group, Ltd. $HG

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in Hamilton Insurance Group by 78.9%, selling 105,992 shares and now holding 28,392 shares worth approximately $589,000.
• Insiders have sold 71,988 shares of Hamilton Insurance Group in the last three months, reflecting significant ownership reductions by key insiders.
• Hamilton Insurance Group reported $1.55 earnings per share in its last quarter, exceeding estimates, with significant revenue of $712.03 million against a projected $519.50 million.

Cubist Systematic Strategies LLC lowered its stake in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 78.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,392 shares of the company's stock after selling 105,992 shares during the period. Cubist Systematic Strategies LLC's holdings in Hamilton Insurance Group were worth $589,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Amalgamated Bank raised its stake 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 valued at $30,000 after acquiring an additional 685 shares in the last quarter. CWM LLC grew its holdings in Hamilton Insurance Group by 172.6% during the first quarter. CWM LLC now owns 1,698 shares of the company's stock valued at $35,000 after purchasing an additional 1,075 shares during the last quarter. Bfsg LLC lifted its stake in shares of Hamilton Insurance Group by 50.2% in the first quarter. Bfsg LLC now owns 6,103 shares of the company's stock worth $127,000 after buying an additional 2,040 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Hamilton Insurance Group in the fourth quarter worth $206,000. Finally, ProShare Advisors LLC acquired a new position in Hamilton Insurance Group in the 4th quarter valued at $212,000. Institutional investors own 29.17% of the company's stock.

Hamilton Insurance Group Stock Performance

Shares of HG stock traded down $0.70 during mid-day trading on Tuesday, reaching $23.46. The stock had a trading volume of 272,442 shares, compared to its average volume of 469,930. Hamilton Insurance Group, Ltd. has a one year low of $16.80 and a one year high of $24.67. The firm has a market cap of $2.35 billion, a PE ratio of 6.48 and a beta of 0.82. The firm's 50 day simple moving average is $22.67 and its 200 day simple moving average is $21.13. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.06.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of 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 reissued a "market perform" rating and set a $23.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Citigroup started coverage on Hamilton Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $25.00 target price on the stock. Zacks Research upgraded Hamilton Insurance Group to a "hold" rating in a report on Tuesday, August 12th. Finally, JMP Securities increased their price objective on Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $25.43.

Insider Buying and Selling at Hamilton Insurance Group

In other news, insider Alexander James Baker sold 6,000 shares of Hamilton Insurance Group stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total transaction of $142,740.00. Following the sale, the insider directly owned 116,338 shares in the company, valued at approximately $2,767,681.02. The trade was a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 64,512 shares in the company, valued at approximately $1,548,288. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,988 shares of company stock valued at $1,743,842 in the last 90 days. 17.46% of the stock is currently owned by company insiders.

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.