Dark Forest Capital Management LP Boosts Stock Position in Hamilton Insurance Group, Ltd. $HG

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Hamilton Insurance Group by 983.7%, acquiring 160,814 additional shares during the first quarter, bringing their total ownership to 177,162 shares valued at approximately $3.67 million.
• Insider transactions show Alexander James Baker and Venkatanarayana Krishnamoorthy selling shares recently, with Baker's sale representing a 4.90% decrease and Krishnamoorthy's a 22.74% decrease in their ownership stakes.
• Hamilton Insurance Group reported strong earnings with $1.55 earnings per share for the quarter, surpassing analysts' expectations, and has a current target price consensus of $25.43 from equity analysts.

Dark Forest Capital Management LP grew its position in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 983.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,162 shares of the company's stock after purchasing an additional 160,814 shares during the period. Dark Forest Capital Management LP owned approximately 0.17% of Hamilton Insurance Group worth $3,673,000 at the end of the most recent quarter.

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

Hamilton Insurance Group Trading Down 0.8%

NYSE HG traded down $0.19 during trading on Friday, hitting $24.41. 471,590 shares of the company's stock traded hands, compared to its average volume of 522,234. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.69. Hamilton Insurance Group, Ltd. has a 12-month low of $16.80 and a 12-month high of $24.67. The stock has a fifty day moving average of $22.31 and a two-hundred day moving average of $20.86. The firm has a market cap of $2.44 billion, a P/E ratio of 6.74 and a beta of 0.82.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, beating 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 firm had revenue of $712.03 million during the quarter, compared to the consensus estimate of $519.50 million. As a group, sell-side analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays upped 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. Keefe, Bruyette & Woods upped their target price on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. JMP Securities upped their target price on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Citigroup assumed coverage on shares of Hamilton Insurance Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $25.00 target price for the company. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $25.43.

Insider Activity at Hamilton Insurance Group

In other news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the 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. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander James Baker sold 6,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total transaction of $142,740.00. Following the sale, the insider owned 116,338 shares of the company's stock, valued at approximately $2,767,681.02. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.