Nuveen LLC Acquires New Holdings in Hamilton Insurance Group, Ltd. (NYSE:HG)

Key Points

• Nuveen LLC purchased 2,452,380 shares of Hamilton Insurance Group, LTD., valued at approximately $50.8 million, now holding about 2.42% of the company.
• Analysts are optimistic, with several firms raising their price targets for Hamilton Insurance Group, predicting a consensus price target of $25.14 and a "Moderate Buy" rating.
• Hamilton Insurance Group reported impressive earnings of $1.55 per share for the last quarter, significantly exceeding the analyst consensus estimate of $1.01.

Nuveen LLC acquired a new stake in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,452,380 shares of the company's stock, valued at approximately $50,838,000. Nuveen LLC owned 2.42% of Hamilton Insurance Group at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Amalgamated Bank boosted its stake in Hamilton Insurance Group by 92.2% in the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after purchasing an additional 685 shares during the period. Arizona State Retirement System bought a new position in Hamilton Insurance Group in the 1st quarter worth approximately $267,000. Victory Capital Management Inc. boosted its position in shares of Hamilton Insurance Group by 279.5% during the 1st quarter. Victory Capital Management Inc. now owns 471,128 shares of the company's stock valued at $9,766,000 after acquiring an additional 346,998 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Hamilton Insurance Group by 18.8% during the 4th quarter. Bank of America Corp DE now owns 212,586 shares of the company's stock valued at $4,046,000 after acquiring an additional 33,613 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Hamilton Insurance Group by 110.3% during the 1st quarter. New York State Common Retirement Fund now owns 29,741 shares of the company's stock valued at $617,000 after acquiring an additional 15,600 shares during the last quarter. 29.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HG shares. Morgan Stanley increased their target price on Hamilton Insurance Group from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. BMO Capital Markets reiterated a "market perform" rating and set a $23.00 target price on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Zacks Research upgraded Hamilton Insurance Group to a "hold" rating in a research report on Tuesday, August 12th. Barclays increased their target price on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Wall Street Zen downgraded Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research report on Sunday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $25.14.

Hamilton Insurance Group Trading Down 4.3%

NYSE:HG traded down $1.06 during midday trading on Friday, hitting $23.34. 779,666 shares of the company traded hands, compared to its average volume of 427,185. The firm's fifty day moving average is $21.49 and its 200-day moving average is $20.33. Hamilton Insurance Group, Ltd. has a 12-month low of $16.80 and a 12-month high of $24.54. The firm has a market capitalization of $2.37 billion, a P/E ratio of 6.45 and a beta of 0.81. The company has a current ratio of 0.69, a quick ratio of 0.71 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share 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 company had revenue of $712.03 million for the quarter, compared to analyst estimates of $519.50 million. On average, sell-side analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Insiders Place Their Bets

In other news, Director Therese M. Vaughan purchased 4,750 shares of the business's stock in a transaction dated Monday, May 19th. The shares were purchased at an average price of $21.05 per share, for a total transaction of $99,987.50. Following the completion of the purchase, the director owned 20,892 shares in the company, valued at approximately $439,776.60. This represents a 29.43% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adrian Joseph Daws sold 6,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the transaction, the chief executive officer owned 190,440 shares in the company, valued at approximately $4,189,680. This represents 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.

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.