Jacobs Levy Equity Management Inc. Sells 535,565 Shares of Hamilton Insurance Group, Ltd. $HG

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. lessened its stake in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 83.4% in the first quarter, according to the company in 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 quarter. 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.

A number of other institutional investors have also recently made changes to their positions in the stock. Bridgeway Capital Management LLC boosted its stake in shares of Hamilton Insurance Group by 398.9% during the first quarter. Bridgeway Capital Management LLC now owns 581,754 shares of the company's stock valued at $12,060,000 after purchasing an additional 465,152 shares during the period. AQR Capital Management LLC boosted its stake in shares of Hamilton Insurance Group by 186.0% during the first quarter. AQR Capital Management LLC now owns 57,399 shares of the company's stock valued at $1,190,000 after purchasing an additional 37,329 shares during the period. Dark Forest Capital Management LP boosted its stake in shares of Hamilton Insurance Group by 983.7% during the first quarter. Dark Forest Capital Management LP now owns 177,162 shares of the company's stock valued at $3,673,000 after purchasing an additional 160,814 shares during the period. New Vernon Investment Management LLC boosted its stake in shares of Hamilton Insurance Group by 65.5% during the first quarter. New Vernon Investment Management LLC now owns 73,891 shares of the company's stock valued at $1,532,000 after purchasing an additional 29,248 shares during the period. Finally, Trexquant Investment LP boosted its stake in shares of Hamilton Insurance Group by 94.1% during the first quarter. Trexquant Investment LP now owns 223,166 shares of the company's stock valued at $4,626,000 after purchasing an additional 108,218 shares during the period. Hedge funds and other institutional investors own 29.17% of the company's stock.

Insiders Place Their Bets

In other Hamilton Insurance Group news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $24.00, for a total value of $455,712.00. Following the completion of the transaction, the insider owned 64,512 shares in the company, valued at approximately $1,548,288. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander James Baker sold 6,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total value of $142,740.00. Following the completion of the transaction, the insider owned 116,338 shares of the company's stock, valued at approximately $2,767,681.02. This trade represents a 4.90% 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 worth $1,743,842. 17.46% of the stock is owned by corporate insiders.

Hamilton Insurance Group Stock Up 0.3%

HG traded up $0.08 during trading on Friday, reaching $24.35. The stock had a trading volume of 306,664 shares, compared to its average volume of 508,060. The stock's 50 day moving average is $22.57 and its two-hundred day moving average is $21.07. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 6.73 and a beta of 0.82. Hamilton Insurance Group, Ltd. has a one year low of $16.80 and a one year high of $24.67.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Hamilton Insurance Group from $25.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Barclays upped their target price on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Citigroup began coverage on Hamilton Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $25.00 target price for the company. JMP Securities upped their target price on Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded Hamilton Insurance Group from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Four investment 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. According to MarketBeat, Hamilton Insurance Group has a consensus rating of "Hold" and an average price target of $25.43.

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.