Hamilton Insurance Group, Ltd. $HG Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Hamilton Insurance Group by 83.4%, selling 535,565 shares and now holding 106,695 shares worth approximately $2.2 million.
• Other institutional investors have increased their stakes, with Bridgeway Capital Management raising its holdings by 398.9% during the same quarter, indicating a contrasting trend in institutional investment.
• Hamilton Insurance Group exceeded earnings expectations in its last quarterly report, posting an EPS of $1.55 compared to analysts' forecast of $1.01, and achieving revenues of $712.03 million against an expected $519.50 million.

Jacobs Levy Equity Management Inc. cut its position in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 83.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,695 shares of the company's stock after selling 535,565 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.11% of Hamilton Insurance Group worth $2,212,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Amalgamated Bank boosted its stake in shares of Hamilton Insurance Group by 92.2% in the first quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after buying an additional 685 shares during the last quarter. CWM LLC boosted its stake in shares of Hamilton Insurance Group by 172.6% in the first quarter. CWM LLC now owns 1,698 shares of the company's stock worth $35,000 after buying an additional 1,075 shares during the last quarter. Bfsg LLC boosted its stake in shares of Hamilton Insurance Group by 50.2% in the first quarter. Bfsg LLC now owns 6,103 shares of the company's stock worth $127,000 after buying an additional 2,040 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Hamilton Insurance Group in the fourth quarter worth about $206,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Hamilton Insurance Group in the fourth quarter worth about $212,000. 29.17% of the stock is owned by institutional investors and hedge funds.

Hamilton Insurance Group Price Performance

Shares of NYSE:HG traded down $0.70 during midday trading on Tuesday, hitting $23.46. The company had a trading volume of 272,442 shares, compared to its average volume of 469,930. Hamilton Insurance Group, Ltd. has a twelve month low of $16.80 and a twelve month high of $24.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 6.48 and a beta of 0.82. The business's 50-day simple moving average is $22.67 and its 200-day simple moving average is $21.13.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%.The firm had revenue of $712.03 million during the quarter, compared to analysts' expectations of $519.50 million. On average, research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HG. JMP Securities increased their price target on Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Citigroup began coverage on Hamilton Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $25.00 price target on the stock. Zacks Research upgraded Hamilton Insurance Group to a "hold" rating in a research report on Tuesday, August 12th. Barclays increased their price target on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Morgan Stanley reiterated a "cautious" rating and set a $23.00 price target on shares of Hamilton Insurance Group in a research report on Monday, August 18th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $25.43.

Insider Activity at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $24.00, for a total transaction of $455,712.00. Following the completion of the sale, the insider owned 64,512 shares of the company's stock, valued at $1,548,288. This trade represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keith Donald Bernhard sold 47,000 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $24.37, for a total value of $1,145,390.00. Following the sale, the insider directly owned 53,893 shares of the company's stock, valued at approximately $1,313,372.41. This trade represents a 46.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,988 shares of company stock valued at $1,743,842. 17.46% of the stock is currently owned by insiders.

Hamilton Insurance Group 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.