Hamilton Insurance Group, Ltd. $HG Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management increased its Hamilton Insurance Group stake by 39.4% in the second quarter, acquiring 1.63 million shares for a total of 5.78 million shares worth approximately $196.1 million, or 5.86% of the company.
• Hamilton reported quarterly revenue of $839.6 million and earnings of $1.56 per share, with a 19.56% net margin and 22.60% return on equity. The stock opened at $35.21, near its 52-week high of $37.31.
• Analyst sentiment remains positive, with five Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $36.12; recent targets range as high as $42.

Wellington Management Group LLP lifted its position in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 39.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,777,654 shares of the company's stock after buying an additional 1,633,397 shares during the quarter. Wellington Management Group LLP owned approximately 5.86% of Hamilton Insurance Group worth $196,094,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. grew its stake in Hamilton Insurance Group by 71.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company's stock worth $43,325,000 after acquiring an additional 646,106 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Hamilton Insurance Group by 10.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company's stock worth $44,659,000 after purchasing an additional 140,474 shares during the period. Sei Investments Co. lifted its stake in shares of Hamilton Insurance Group by 72.9% during the 1st quarter. Sei Investments Co. now owns 380,717 shares of the company's stock worth $11,357,000 after purchasing an additional 160,575 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Hamilton Insurance Group in the 1st quarter worth about $3,229,000. Finally, Lazard Asset Management LLC increased its stake in shares of Hamilton Insurance Group by 9.5% during the 1st quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company's stock valued at $31,309,000 after acquiring an additional 90,655 shares during the last quarter. Institutional investors and hedge funds own 29.17% of the company's stock.

Hamilton Insurance Group Price Performance

HG opened at $35.21 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group, Ltd. has a 52-week low of $22.66 and a 52-week high of $37.31. The company has a 50 day moving average of $34.84 and a two-hundred day moving average of $32.15. The company has a market cap of $3.47 billion, a P/E ratio of 6.13 and a beta of 0.33.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Hamilton Insurance Group from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Citizens Jmp upped their price objective on Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Friday, August 7th. Citigroup reaffirmed a "neutral" rating on shares of Hamilton Insurance Group in a research report on Wednesday, August 12th. Weiss Ratings upgraded Hamilton Insurance Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, June 12th. Finally, Zacks Research downgraded Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $36.12.

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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