Engineers Gate Manager LP Cuts Position in Hamilton Insurance Group, Ltd. $HG

Key Points

• Engineers Gate Manager LP cut its Hamilton Insurance Group stake by 72.1% in the second quarter, selling 48,060 shares and retaining 18,611 shares valued at approximately $632,000.
• Hamilton Insurance Group reported quarterly EPS of $1.56 on $839.58 million in revenue, with a 19.56% net margin and 22.60% return on equity. Analysts expect full-year EPS of $4.89.
• The stock opened at $33.89, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $36.12; recent insider transactions included substantial share sales by two company insiders.

Engineers Gate Manager LP trimmed its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 72.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,611 shares of the company's stock after selling 48,060 shares during the period. Engineers Gate Manager LP's holdings in Hamilton Insurance Group were worth $632,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new position in Hamilton Insurance Group in the 2nd quarter worth about $34,000. Squarepoint Ops LLC grew its holdings in shares of Hamilton Insurance Group by 32.1% during the second quarter. Squarepoint Ops LLC now owns 47,685 shares of the company's stock valued at $1,618,000 after buying an additional 11,590 shares during the last quarter. Allworth Financial LP increased its position in shares of Hamilton Insurance Group by 45.8% during the second quarter. Allworth Financial LP now owns 1,407 shares of the company's stock valued at $48,000 after acquiring an additional 442 shares in the last quarter. Arizona State Retirement System increased its position in shares of Hamilton Insurance Group by 3.9% during the second quarter. Arizona State Retirement System now owns 12,887 shares of the company's stock valued at $437,000 after acquiring an additional 478 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in Hamilton Insurance Group in the 2nd quarter worth approximately $1,186,000. 29.17% of the stock is owned by institutional investors.

Hamilton Insurance Group Stock Performance

HG opened at $33.89 on Tuesday. The company's 50 day moving average is $35.18 and its 200 day moving average is $32.58. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 5.90 and a beta of 0.31. Hamilton Insurance Group, Ltd. has a 12-month low of $22.66 and a 12-month high of $37.31.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The company reported $1.56 earnings per share for the quarter. The business had revenue of $839.58 million for the quarter. Hamilton Insurance Group had a net margin of 19.56% and a return on equity of 22.60%. On average, equities research analysts predict that Hamilton Insurance Group, Ltd. will post 4.89 EPS for the current year.

Insiders Place Their Bets

In related news, Director David Brown sold 50,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total value of $1,806,000.00. Following the transaction, the director directly owned 400,000 shares of the company's stock, valued at approximately $14,448,000. This trade represents a 11.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy Duffin sold 28,500 shares of Hamilton Insurance Group stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $34.53, for a total value of $984,105.00. Following the transaction, the insider owned 223,459 shares in the company, valued at $7,716,039.27. This trade represents a 11.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HG has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Hamilton Insurance Group from $34.00 to $37.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Zacks Research downgraded Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Citigroup reaffirmed a "neutral" rating on shares of Hamilton Insurance Group in a research report on Wednesday, August 12th. Citizens Jmp boosted their target price on Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a "market outperform" rating in a research report on Friday, August 7th. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of Hamilton Insurance Group in a research note on Wednesday, September 9th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Hamilton Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $36.12.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd. NYSE: HG is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries and underwriting platforms, the group provides customized insurance solutions for commercial and specialty risks that may require specialized expertise or nonstandard coverage.

The company's offerings include property and casualty insurance, specialty liability, professional and financial lines, marine, energy, cyber, and other niche products. Hamilton also participates in the reinsurance market, helping insurers manage exposures through property and casualty reinsurance programs.

Hamilton serves clients and distribution partners in Bermuda, the United States, the United Kingdom, and other international markets.

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