Hamilton Insurance Group, Ltd. $HG Shares Bought by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its Hamilton Insurance Group position by 9.5% in the first quarter, purchasing 90,655 additional shares to own 1.05 million shares, or 1.06% of the company.
• Other institutions also expanded their holdings, including Wellington Management, Donald Smith & Co., Millennium Management, and Dimensional Fund Advisors. Institutional investors and hedge funds collectively own 29.17% of HG shares.
• Analysts maintain a favorable outlook, with six Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $35.38. Hamilton recently reported quarterly EPS of $1.64, beating estimates of $1.08.

Lazard Asset Management LLC raised its position in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,049,590 shares of the company's stock after purchasing an additional 90,655 shares during the period. Lazard Asset Management LLC owned 1.06% of Hamilton Insurance Group worth $31,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Hamilton Insurance Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company's stock worth $131,378,000 after purchasing an additional 737,084 shares during the last quarter. Donald Smith & CO. Inc. increased its holdings in Hamilton Insurance Group by 71.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company's stock valued at $43,325,000 after buying an additional 646,106 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Hamilton Insurance Group in the fourth quarter valued at $16,667,000. Millennium Management LLC raised its stake in Hamilton Insurance Group by 89.8% in the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company's stock valued at $24,599,000 after buying an additional 417,261 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Hamilton Insurance Group by 101.9% in the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company's stock valued at $17,490,000 after buying an additional 355,947 shares in the last quarter. 29.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HG shares. Wells Fargo & Company upped their price objective on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Barclays raised their target price on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded Hamilton Insurance Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, June 12th. Wall Street Zen raised Hamilton Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Hamilton Insurance Group in a report on Friday, July 10th. 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 company has a consensus rating of "Moderate Buy" and an average target price of $35.38.

Hamilton Insurance Group Stock Performance

NYSE HG opened at $37.17 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. Hamilton Insurance Group, Ltd. has a 1 year low of $21.00 and a 1 year high of $37.31. The company has a market capitalization of $3.69 billion, a PE ratio of 6.08 and a beta of 0.35. The company has a fifty day moving average of $32.74 and a two-hundred day moving average of $30.83.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $758.91 million for the quarter, compared to analysts' expectations of $933.90 million. As a group, analysts expect that Hamilton Insurance Group, Ltd. will post 4.12 earnings per share for the current year.

Insider Buying and Selling

In related news, Treasurer Jonathan B. Levenson sold 6,075 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total transaction of $185,955.75. Following the transaction, the treasurer owned 39,629 shares in the company, valued at $1,213,043.69. This trade represents a 13.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Brian John Deegan sold 11,000 shares of the business's 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 sale, the chief accounting officer owned 71,347 shares of the company's stock, valued at approximately $2,189,639.43. This represents a 13.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 70,105 shares of company stock worth $2,220,158 in the last quarter. 3.02% of the stock is owned by insiders.

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.

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