Informed Momentum Co LLC Takes $3.14 Million Position in Hamilton Insurance Group, Ltd. (NYSE:HG)

Key Points

• Informed Momentum Co LLC purchased 151,625 shares of Hamilton Insurance Group, worth approximately $3.14 million, representing a 0.15% ownership stake by the end of the last quarter.
• Barclays and JMP Securities both raised their price targets for Hamilton Insurance Group, with Barclays increasing it to $25.00 and JMP to $29.00, reflecting positive analyst sentiment.
• Hamilton Insurance Group reported earnings of $1.55 per share, significantly beating analyst estimates of $1.01, with total revenue of $712.03 million for the quarter.

Informed Momentum Co LLC bought a new position in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 151,625 shares of the company's stock, valued at approximately $3,143,000. Informed Momentum Co LLC owned about 0.15% of Hamilton Insurance Group as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HG. Franklin Resources Inc. boosted its stake in Hamilton Insurance Group by 15.0% during the 4th quarter. Franklin Resources Inc. now owns 114,062 shares of the company's stock worth $2,171,000 after purchasing an additional 14,872 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hamilton Insurance Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 478,057 shares of the company's stock worth $9,097,000 after purchasing an additional 2,504 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Hamilton Insurance Group by 28.8% during the 4th quarter. Wells Fargo & Company MN now owns 23,408 shares of the company's stock worth $445,000 after purchasing an additional 5,234 shares during the last quarter. Invesco Ltd. acquired a new stake in Hamilton Insurance Group during the 4th quarter worth $465,000. Finally, Legal & General Group Plc boosted its stake in Hamilton Insurance Group by 19.0% during the 4th quarter. Legal & General Group Plc now owns 27,187 shares of the company's stock worth $517,000 after purchasing an additional 4,336 shares during the last quarter. Institutional investors and hedge funds own 29.17% of the company's stock.

Hamilton Insurance Group Trading Up 2.1%

Shares of HG stock traded up $0.50 on Thursday, hitting $24.46. 635,921 shares of the stock traded hands, compared to its average volume of 513,792. The firm's 50-day moving average price is $21.45 and its two-hundred day moving average price is $20.30. Hamilton Insurance Group, Ltd. has a twelve month low of $16.80 and a twelve month high of $24.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.69. The stock has a market capitalization of $2.48 billion, a PE ratio of 6.76 and a beta of 0.81.

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, topping the consensus estimate of $1.01 by $0.54. The company had revenue of $712.03 million during the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. As a group, analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Insiders Place Their Bets

In other Hamilton Insurance Group news, CEO Adrian Joseph Daws sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the completion of the transaction, the chief executive officer owned 190,440 shares of the company's stock, valued at $4,189,680. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Therese M. Vaughan bought 4,750 shares of the stock in a transaction on Monday, May 19th. The shares were bought at an average cost of $21.05 per share, with a total value of $99,987.50. Following the purchase, the director owned 20,892 shares of the company's stock, valued at $439,776.60. This trade represents a 29.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. 17.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods lifted their target price on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. JMP Securities boosted their price target on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Finally, Citigroup started coverage on shares of Hamilton Insurance Group in a research report on Wednesday. They set a "neutral" rating and a $25.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.14.

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.