First Trust Advisors LP Purchases 47,952 Shares of Hamilton Insurance Group, Ltd. $HG

Key Points

• First Trust Advisors LP increased its Hamilton Insurance Group stake by 10.6% in the first quarter, acquiring 47,952 shares for a total holding of 499,266 shares valued at approximately $14.9 million. Institutional investors own about 29.17% of HG.
• Hamilton reported quarterly EPS of $1.64, exceeding the $1.08 consensus estimate, while revenue of $758.91 million fell short of the $933.90 million forecast. The stock recently traded at $35.64, near its 12-month high of $37.31.
• Analysts maintain a “Moderate Buy” consensus, with six Buy ratings and three Holds; recent price targets range from $33 to $40. Meanwhile, insiders sold 70,105 shares worth approximately $2.22 million over the past 90 days.

First Trust Advisors LP increased its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 10.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 499,266 shares of the company's stock after acquiring an additional 47,952 shares during the period. First Trust Advisors LP owned about 0.50% of Hamilton Insurance Group worth $14,893,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new position in Hamilton Insurance Group in the 4th quarter worth about $25,000. Harbor Capital Advisors Inc. boosted its position in Hamilton Insurance Group by 112.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company's stock valued at $49,000 after buying an additional 937 shares during the period. KBC Group NV bought a new position in Hamilton Insurance Group in the 1st quarter worth about $65,000. Royal Bank of Canada grew its stake in Hamilton Insurance Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company's stock worth $84,000 after acquiring an additional 410 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Hamilton Insurance Group during the first quarter worth approximately $112,000. 29.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hamilton Insurance Group

In related news, CAO Brian John Deegan sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total value of $337,590.00. Following the completion of the transaction, the chief accounting officer directly owned 71,347 shares of the company's stock, valued at $2,189,639.43. This trade represents a 13.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $185,955.75. Following the sale, the treasurer owned 39,629 shares of the company's stock, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is owned by insiders.

Hamilton Insurance Group Stock Performance

Shares of HG stock opened at $35.64 on Friday. The business's fifty day simple moving average is $32.90 and its 200-day simple moving average is $30.97. The company has a market cap of $3.54 billion, a PE ratio of 5.83 and a beta of 0.35. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group, Ltd. has a 12-month low of $21.00 and a 12-month high of $37.31.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The firm had revenue of $758.91 million during the quarter, compared to analyst estimates of $933.90 million. Analysts expect that Hamilton Insurance Group, Ltd. will post 4.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on HG. Morgan Stanley lifted their price target on shares of Hamilton Insurance Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their price objective on Hamilton Insurance Group from $34.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. UBS Group set a $33.00 price objective on Hamilton Insurance Group in a report on Thursday, May 21st. Citizens Jmp lifted their target price on Hamilton Insurance Group from $38.00 to $40.00 and gave the company a "market outperform" rating in a research report on Friday, July 10th. Finally, Wells Fargo & Company upped their target price on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.38.

About Hamilton Insurance Group

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.