Hamilton Insurance Group, Ltd. $HG Stake Raised by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stock position in Hamilton Insurance Group by 8.1%, owning 279,653 shares valued at approximately $5.8 million.
• Several institutional investors, including Voya Investment Management and Rhumbline Advisers, also raised their stakes in Hamilton Insurance Group in the first quarter.
• Analysts have mixed opinions on Hamilton Insurance Group’s stock, with a consensus price target of $25.43 and ratings ranging from "buy" to "hold" from various analysts.

Goldman Sachs Group Inc. increased its position in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 279,653 shares of the company's stock after purchasing an additional 20,926 shares during the period. Goldman Sachs Group Inc. owned 0.28% of Hamilton Insurance Group worth $5,797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Hamilton Insurance Group by 26.1% in the 1st quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company's stock valued at $96,570,000 after purchasing an additional 963,021 shares during the last quarter. Nuveen LLC purchased a new stake in Hamilton Insurance Group during the 1st quarter valued at approximately $50,838,000. Private Management Group Inc. raised its stake in Hamilton Insurance Group by 60.4% during the 1st quarter. Private Management Group Inc. now owns 885,996 shares of the company's stock valued at $18,367,000 after acquiring an additional 333,671 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in Hamilton Insurance Group by 398.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 581,754 shares of the company's stock valued at $12,060,000 after acquiring an additional 465,152 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in 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 acquiring an additional 346,998 shares during the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Stock Down 0.2%

NYSE:HG traded down $0.04 during mid-day trading on Friday, hitting $24.39. The company had a trading volume of 1,044,167 shares, compared to its average volume of 412,904. The business has a fifty day simple moving average of $22.88 and a 200-day simple moving average of $21.21. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 6.74 and a beta of 0.82. Hamilton Insurance Group, Ltd. has a 1 year low of $16.80 and a 1 year high of $24.99.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its earnings results 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. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $519.50 million. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. Equities analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alexander James Baker sold 6,000 shares of Hamilton Insurance Group stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total value of $142,740.00. Following the completion of the transaction, the insider directly owned 116,338 shares in the company, valued at approximately $2,767,681.02. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith Donald Bernhard sold 47,000 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 53,893 shares in the company, valued at $1,313,372.41. This represents a 46.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,988 shares of company stock worth $1,743,842. Corporate insiders own 17.46% of the company's stock.

Analyst Upgrades and Downgrades

HG has been the subject of several analyst reports. Wall Street Zen downgraded Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Zacks Research upgraded Hamilton Insurance Group to a "hold" rating in a research report on Tuesday, August 12th. Wells Fargo & Company boosted their target price on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. JMP Securities boosted their target price on 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. Finally, Keefe, Bruyette & Woods boosted their target price 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. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Hamilton Insurance Group presently has an average rating of "Hold" and an average target price of $25.43.

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.