New York State Common Retirement Fund Purchases 15,600 Shares of Hamilton Insurance Group, Ltd. (NYSE:HG)

Key Points

• The New York State Common Retirement Fund increased its holdings in Hamilton Insurance Group by 110.3% during the 1st quarter, acquiring an additional 15,600 shares, reaching a total of 29,741 shares worth $617,000.
• Several hedge funds have recently modified their stakes in Hamilton Insurance, with Sterling Capital Management increasing its share by 295.1% in the last quarter.
• Hamilton Insurance Group reported earnings of $0.47 per share, significantly beating analysts' expectations of $0.04, and its revenue was $843.31 million for the quarter, well above the consensus estimate.

New York State Common Retirement Fund increased its position in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 110.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,741 shares of the company's stock after buying an additional 15,600 shares during the quarter. New York State Common Retirement Fund's holdings in Hamilton Insurance Group were worth $617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of Hamilton Insurance Group by 295.1% in the fourth quarter. Sterling Capital Management LLC now owns 1,517 shares of the company's stock worth $29,000 after acquiring an additional 1,133 shares during the last quarter. Amalgamated Bank boosted its holdings in Hamilton Insurance Group by 92.2% in the first quarter. Amalgamated Bank now owns 1,428 shares of the company's stock valued at $30,000 after purchasing an additional 685 shares during the last quarter. Bfsg LLC raised its position in shares of Hamilton Insurance Group by 50.2% during the 1st quarter. Bfsg LLC now owns 6,103 shares of the company's stock worth $127,000 after purchasing an additional 2,040 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Hamilton Insurance Group during the 4th quarter worth approximately $206,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Hamilton Insurance Group during the 4th quarter worth approximately $212,000. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Insurance Group Price Performance

NYSE HG traded down $0.31 during trading on Monday, reaching $21.24. 70,134 shares of the company traded hands, compared to its average volume of 518,091. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.71. The stock's 50 day moving average price is $21.21 and its two-hundred day moving average price is $20.02. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 7.01 and a beta of 0.82. Hamilton Insurance Group, Ltd. has a 1-year low of $15.31 and a 1-year high of $22.33.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.43. Hamilton Insurance Group had a net margin of 13.28% and a return on equity of 12.41%. The firm had revenue of $843.31 million during the quarter, compared to analysts' expectations of $498.00 million. As a group, analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

HG has been the topic of a number of research reports. BMO Capital Markets reiterated a "market perform" rating and set a $23.00 price target on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Barclays raised their target price 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. Morgan Stanley increased their price objective on Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company cut their target price on Hamilton Insurance Group from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $24.17.

Insider Activity at Hamilton Insurance Group

In other Hamilton Insurance Group news, Director Therese M. Vaughan bought 4,750 shares of the company's stock in a transaction on Monday, May 19th. The stock was bought at an average price of $21.05 per share, for a total transaction of $99,987.50. Following the transaction, the director owned 20,892 shares of the company's stock, valued at approximately $439,776.60. The trade was a 29.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adrian Joseph Daws sold 6,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the sale, the chief executive officer owned 190,440 shares of the company's stock, valued at $4,189,680. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.46% of the company's stock.

About Hamilton Insurance Group

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.