JPMorgan Chase & Co. Sells 82,967 Shares of Hamilton Insurance Group, Ltd. $HG

Key Points

• JPMorgan Chase & Co. cut its stake in Hamilton Insurance Group by 23.6%, selling 82,967 shares and retaining 269,118 shares (about 0.27% ownership) worth roughly $6.67 million.
• Hamilton reported a strong quarter, delivering $1.65 EPS versus a $0.69 consensus and $728.3M in revenue versus $621M expected, with a 19.43% ROE and a 19.85% net margin.
• The company paid a special $2.00 dividend to shareholders of record on March 6 (paid March 30), and analysts hold a consensus rating of “Moderate Buy” with a $32.29 price target.

JPMorgan Chase & Co. decreased its holdings in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 23.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,118 shares of the company's stock after selling 82,967 shares during the period. JPMorgan Chase & Co. owned about 0.27% of Hamilton Insurance Group worth $6,674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in Hamilton Insurance Group by 1,404.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,700 shares of the company's stock valued at $42,000 after buying an additional 1,587 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Hamilton Insurance Group in the 3rd quarter worth about $71,000. Ameritas Investment Partners Inc. increased its position in shares of Hamilton Insurance Group by 14.6% during the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock worth $99,000 after acquiring an additional 585 shares during the period. Strs Ohio purchased a new position in shares of Hamilton Insurance Group during the first quarter worth approximately $112,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Hamilton Insurance Group by 24.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company's stock valued at $123,000 after acquiring an additional 1,101 shares in the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Trading Up 2.1%

Shares of NYSE:HG opened at $29.82 on Wednesday. The company has a market capitalization of $2.95 billion, a PE ratio of 5.35 and a beta of 0.56. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group, Ltd. has a 12-month low of $16.80 and a 12-month high of $32.21. The business's fifty day simple moving average is $29.35 and its 200-day simple moving average is $27.12.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a return on equity of 19.43% and a net margin of 19.85%.The company had revenue of $728.33 million for the quarter, compared to analyst estimates of $621.00 million. As a group, equities research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Hamilton Insurance Group Announces Dividend

The company also recently announced a special dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 6th were paid a $2.00 dividend. The ex-dividend date was Friday, March 6th.

Wall Street Analysts Forecast Growth

HG has been the topic of several research reports. Citigroup raised their price objective on Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Wall Street Zen upgraded Hamilton Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley set a $28.00 price target on Hamilton Insurance Group in a research report on Tuesday, December 16th. Zacks Research downgraded Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Hamilton Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.29.

Hamilton Insurance Group Company Profile

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.

Want to see what other hedge funds are holding HG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.