Empowered Funds LLC Purchases 238,652 Shares of Hamilton Insurance Group, Ltd. $HG

Key Points

• Empowered Funds LLC significantly increased its stake in Hamilton Insurance Group by 260.5%, acquiring an additional 238,652 shares, bringing its total ownership to approximately $6.85 million.
• Several other institutional investors have also raised their stakes in Hamilton Insurance Group, with notable increases from Bfsg LLC and CWM LLC, indicating growing interest among large investors.
• Hamilton Insurance Group's shares have seen a slight decrease of 0.8%, with a market capitalization of $2.36 billion and a reported PE ratio of 6.51.

Empowered Funds LLC lifted its position in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 260.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 330,254 shares of the company's stock after buying an additional 238,652 shares during the period. Empowered Funds LLC owned approximately 0.33% of Hamilton Insurance Group worth $6,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HG. Wellington Management Group LLP lifted its holdings in Hamilton Insurance Group by 26.1% in the first quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company's stock valued at $96,570,000 after acquiring an additional 963,021 shares during the period. Nuveen LLC purchased a new stake in shares of Hamilton Insurance Group during the 1st quarter valued at about $50,838,000. Private Management Group Inc. lifted its stake in shares of Hamilton Insurance Group by 60.4% in the 1st quarter. Private Management Group Inc. now owns 885,996 shares of the company's stock worth $18,367,000 after purchasing an additional 333,671 shares during the period. Lazard Asset Management LLC grew its position in Hamilton Insurance Group by 19.7% during the fourth quarter. Lazard Asset Management LLC now owns 811,166 shares of the company's stock valued at $15,435,000 after buying an additional 133,646 shares during the period. Finally, Bridgeway Capital Management LLC increased its holdings in Hamilton Insurance Group by 398.9% during the first quarter. Bridgeway Capital Management LLC now owns 581,754 shares of the company's stock valued at $12,060,000 after buying an additional 465,152 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company's stock.

Hamilton Insurance Group Price Performance

HG traded up $0.08 during trading hours on Friday, hitting $24.35. The company's stock had a trading volume of 306,664 shares, compared to its average volume of 508,060. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 6.73 and a beta of 0.82. 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 current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group, Ltd. has a 12 month low of $16.80 and a 12 month high of $24.67.

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

Analyst Ratings Changes

HG has been the topic of several analyst reports. Zacks Research upgraded shares of Hamilton Insurance Group to a "hold" rating in a research note on Tuesday, August 12th. Barclays boosted their price target on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Wells Fargo & Company raised their price objective on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen downgraded Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $23.00 target price on shares of Hamilton Insurance Group in a report on Thursday, June 5th. Four 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 data from MarketBeat.com, Hamilton Insurance Group currently has a consensus rating of "Hold" and an average price target of $25.43.

Insider Buying and Selling

In other Hamilton Insurance Group news, insider Keith Donald Bernhard sold 47,000 shares of the business's 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 sale, the insider directly owned 53,893 shares of the company's stock, valued at $1,313,372.41. The trade was a 46.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 value of $455,712.00. Following the completion of the sale, the insider directly owned 64,512 shares of the company's stock, valued at $1,548,288. The trade was a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,988 shares of company stock worth $1,743,842. Corporate insiders own 17.46% of the company's stock.

Hamilton Insurance Group 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.