Hamilton Insurance Group, Ltd. $HG Stock: Private Management Group Inc. Reduces Position

Key Points

• Private Management Group cut its Hamilton Insurance stake by 7.5%, selling 59,280 shares in the third quarter; it retained 734,725 shares valued at about $24.3 million. Institutional investors collectively own 29.17% of the company.
• Hamilton reported quarterly EPS of $1.78, beating the $0.91 consensus, while revenue of $828 million exceeded analysts’ $693.5 million estimate.
• Analyst sentiment is moderately positive: the stock has a consensus “Moderate Buy” rating and an average price target of $36.62. Two company insiders also disclosed share sales in September.

Private Management Group Inc. reduced its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 734,725 shares of the company's stock after selling 59,280 shares during the period. Private Management Group Inc. owned approximately 0.75% of Hamilton Insurance Group worth $24,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HG. Wellington Management Group LLP grew its stake in shares of Hamilton Insurance Group by 39.4% during the second quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company's stock worth $196,094,000 after acquiring an additional 1,633,397 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Hamilton Insurance Group by 10.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company's stock valued at $44,659,000 after acquiring an additional 140,474 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hamilton Insurance Group by 32.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company's stock valued at $40,312,000 after acquiring an additional 332,405 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Hamilton Insurance Group by 9.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company's stock valued at $31,309,000 after purchasing an additional 90,655 shares during the last quarter. Finally, Donald Smith & CO. Inc. purchased a new position in shares of Hamilton Insurance Group in the 2nd quarter valued at approximately $29,884,000. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Insurance Group Stock Up 1.2%

Hamilton Insurance Group stock opened at $37.37 on Tuesday. The business's 50-day simple moving average is $35.09 and its two-hundred day simple moving average is $32.60. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $3.69 billion, a PE ratio of 5.62 and a beta of 0.33. Hamilton Insurance Group, Ltd. has a fifty-two week low of $25.53 and a fifty-two week high of $38.14.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.87. Hamilton Insurance Group had a return on equity of 24.05% and a net margin of 16.83%. The firm had revenue of $828.04 million during the quarter, compared to analysts' expectations of $693.46 million. Equities analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.90 EPS for the current year.

Insider Buying and Selling

In related news, insider Timothy Duffin sold 28,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $34.53, for a total value of $984,105.00. Following the transaction, the insider owned 223,459 shares in the company, valued at approximately $7,716,039.27. This represents a 11.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Brown sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the transaction, the director directly owned 400,000 shares of the company's stock, valued at $14,448,000. This represents a 11.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday. Keefe, Bruyette & Woods boosted their target price on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 4th. Morgan Stanley cut their price target on shares of Hamilton Insurance Group from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 6th. Citizens Jmp raised their price target on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Friday, August 7th. Finally, Zacks Research upgraded shares of Hamilton Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Hamilton Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $36.62.

Hamilton Insurance Group Profile

Hamilton Insurance Group is a global specialty insurance and reinsurance company headquartered in Bermuda. Founded in 2013, it operates through businesses in Bermuda, the United States and the United Kingdom.

The company underwrites a range of property, casualty and specialty risks, offering insurance and reinsurance products to businesses and other clients. Its operations include Hamilton Re in Bermuda, Hamilton Global Specialty in London and Hamilton Select in the United States.

Pina Albo became Hamilton Insurance Group's chief executive officer in 2023.

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