Hamilton Insurance Group, Ltd. $HG Holdings Raised by Empowered Funds LLC

Key Points

• Empowered Funds increased its Hamilton Insurance Group stake by 10.9% in the first quarter, bringing its holdings to 456,436 shares worth approximately $13.6 million. Institutional investors collectively own 29.17% of the company.
• Analyst sentiment remains favorable, with six Buy ratings and three Holds producing a consensus rating of “Moderate Buy” and an average price target of $35.38. Recent targets range as high as $40.
• Hamilton reported quarterly EPS of $1.64, beating estimates of $1.08, while revenue reached $758.91 million. Meanwhile, insiders have sold 70,105 shares worth about $2.22 million over the past 90 days.

Empowered Funds LLC increased its stake in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 10.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 456,436 shares of the company's stock after purchasing an additional 44,690 shares during the quarter. Empowered Funds LLC owned about 0.46% of Hamilton Insurance Group worth $13,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in Hamilton Insurance Group during the 4th quarter valued at about $25,000. Harbor Capital Advisors Inc. lifted its stake in shares of Hamilton Insurance Group by 112.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company's stock worth $49,000 after acquiring an additional 937 shares during the period. KBC Group NV bought a new position in shares of Hamilton Insurance Group in the first quarter valued at approximately $65,000. Royal Bank of Canada boosted its holdings in shares of Hamilton Insurance Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company's stock valued at $84,000 after acquiring an additional 410 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Hamilton Insurance Group during the first quarter valued at approximately $112,000. Institutional investors own 29.17% of the company's stock.

Insiders Place Their Bets

In other news, Director David A. Brown sold 37,300 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the completion of the sale, the director directly owned 450,000 shares of the company's stock, valued at $14,472,000. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brian John Deegan sold 11,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total value of $337,590.00. Following the sale, the chief accounting officer directly owned 71,347 shares of the company's stock, valued at approximately $2,189,639.43. This represents a 13.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Zacks Research cut Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. UBS Group set a $33.00 price target on Hamilton Insurance Group in a research note on Thursday, May 21st. Morgan Stanley lifted their price target on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods boosted 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. Finally, Citizens Jmp boosted their price objective on Hamilton Insurance Group from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.38.

Hamilton Insurance Group Stock Performance

Shares of HG opened at $36.47 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm's 50 day moving average is $32.82 and its 200-day moving average is $30.90. Hamilton Insurance Group, Ltd. has a 12-month low of $21.00 and a 12-month high of $37.31. The stock has a market capitalization of $3.62 billion, a P/E ratio of 5.97 and a beta of 0.35.

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

Hamilton Insurance Group Company Profile

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.