Hamilton Insurance Group, Ltd. $HG Shares Sold by Cubist Systematic Strategies LLC

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 cut its position in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 78.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Deutsche Bank AG increased its holdings in shares of Hamilton Insurance Group by 0.6% in the first quarter. Deutsche Bank AG now owns 100,206 shares of the company's stock valued at $2,077,000 after purchasing an additional 555 shares during the period. Corebridge Financial Inc. grew its holdings in Hamilton Insurance Group by 3.1% during the first quarter. Corebridge Financial Inc. now owns 20,297 shares of the company's stock worth $421,000 after acquiring an additional 616 shares during the period. Amalgamated Bank grew its holdings in Hamilton Insurance Group by 92.2% during the first quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after acquiring an additional 685 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Hamilton Insurance Group by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,525 shares of the company's stock worth $429,000 after acquiring an additional 886 shares during the period. Finally, Invesco Ltd. grew its holdings in Hamilton Insurance Group by 4.0% during the first quarter. Invesco Ltd. now owns 25,442 shares of the company's stock worth $527,000 after acquiring an additional 987 shares during the period. 29.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HG has been the topic of a number of recent analyst reports. Zacks Research upgraded Hamilton Insurance Group to a "hold" rating in a research report on Tuesday, August 12th. Keefe, Bruyette & Woods increased their price target on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Morgan Stanley reiterated a "cautious" rating and set a $23.00 price target on shares of Hamilton Insurance Group in a research report on Monday, August 18th. Wall Street Zen lowered Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, Citigroup assumed coverage on Hamilton Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $25.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.43.

Insider Transactions at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Keith Donald Bernhard sold 47,000 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $24.37, for a total transaction of $1,145,390.00. Following the completion of the sale, the insider directly owned 53,893 shares of the company's stock, valued at approximately $1,313,372.41. This trade represents a 46.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander James Baker sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total value of $142,740.00. Following the sale, the insider directly owned 116,338 shares of the company's stock, valued at $2,767,681.02. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,988 shares of company stock valued at $1,743,842. 17.46% of the stock is currently owned by corporate insiders.

Hamilton Insurance Group Trading Up 0.3%

Shares of NYSE HG traded up $0.08 during trading on Friday, reaching $24.35. The stock had a trading volume of 306,664 shares, compared to its average volume of 508,060. Hamilton Insurance Group, Ltd. has a fifty-two week low of $16.80 and a fifty-two week high of $24.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69. The business's 50-day moving average price is $22.57 and its 200-day moving average price is $21.07. The company has a market cap of $2.44 billion, a P/E ratio of 6.73 and a beta of 0.82.

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 for the quarter, topping the consensus estimate 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 company had revenue of $712.03 million for the quarter, compared to the consensus estimate of $519.50 million. On average, equities research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal 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.