Private Management Group Inc. Buys 333,671 Shares of Hamilton Insurance Group, Ltd. (NYSE:HG)

Key Points

• Private Management Group Inc. increased its stake in Hamilton Insurance Group by 60.4% in Q1, acquiring 333,671 shares, bringing its total to 885,996 shares valued at approximately $18.37 million.
• Several analysts have set new price targets for Hamilton Insurance Group, with Barclays raising its target from $21.00 to $25.00 and maintaining an "overweight" rating.
• Hamilton Insurance Group reported earnings of $0.47 per share for the last quarter, significantly exceeding the consensus estimate of $0.04, indicating strong financial performance.

Private Management Group Inc. boosted its holdings in Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 60.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 885,996 shares of the company's stock after purchasing an additional 333,671 shares during the quarter. Private Management Group Inc. owned about 0.87% of Hamilton Insurance Group worth $18,367,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Amalgamated Bank boosted its position in shares of Hamilton Insurance Group by 92.2% during the first quarter. Amalgamated Bank now owns 1,428 shares of the company's stock valued at $30,000 after buying an additional 685 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Hamilton Insurance Group during the 1st quarter valued at $267,000. Bank of America Corp DE lifted its holdings in Hamilton Insurance Group by 18.8% during the fourth quarter. Bank of America Corp DE now owns 212,586 shares of the company's stock valued at $4,046,000 after purchasing an additional 33,613 shares during the last quarter. SG Americas Securities LLC boosted its position in Hamilton Insurance Group by 126.1% during the first quarter. SG Americas Securities LLC now owns 39,025 shares of the company's stock worth $809,000 after purchasing an additional 21,766 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in shares of Hamilton Insurance Group in the fourth quarter worth about $311,000. 29.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Hamilton Insurance Group Stock Performance

Shares of HG stock opened at $21.31 on Friday. Hamilton Insurance Group, Ltd. has a one year low of $15.31 and a one year high of $22.33. The company's 50-day moving average is $21.21 and its 200 day moving average is $19.99. 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 company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 7.03 and a beta of 0.82.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.47 earnings per share for the quarter, beating 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 business had revenue of $843.31 million for the quarter, compared to the consensus estimate of $498.00 million. Sell-side analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

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

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