Voleon Capital Management LP Sells 34,088 Shares of Hamilton Insurance Group, Ltd. $HG

Key Points

• Voleon Capital Management LP has reduced its stake in Hamilton Insurance Group by 63.2%, now holding 19,887 shares valued at approximately $412,000.
• Other institutional investors have also adjusted their positions, with Amalgamated Bank increasing its stake by 92.2% and CWM LLC boosting it by 172.6% during the same period.
• Insider selling activities have been reported, with notable transactions including the sale of 47,000 shares by insider Keith Donald Bernhard for a total of $1,145,390.

Voleon Capital Management LP trimmed its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 63.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,887 shares of the company's stock after selling 34,088 shares during the period. Voleon Capital Management LP's holdings in Hamilton Insurance Group were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HG. Price T Rowe Associates Inc. MD increased its holdings in Hamilton Insurance Group by 20.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,840 shares of the company's stock valued at $302,000 after purchasing an additional 2,726 shares in the last quarter. Northern Trust Corp increased its stake in shares of Hamilton Insurance Group by 4.8% in the 4th quarter. Northern Trust Corp now owns 257,728 shares of the company's stock valued at $4,905,000 after buying an additional 11,701 shares during the period. Bank of America Corp DE increased its stake in shares of Hamilton Insurance Group by 18.8% in the 4th quarter. Bank of America Corp DE now owns 212,586 shares of the company's stock valued at $4,046,000 after buying an additional 33,613 shares during the period. Deutsche Bank AG increased its stake in shares of Hamilton Insurance Group by 495.1% in the 4th quarter. Deutsche Bank AG now owns 99,651 shares of the company's stock valued at $1,896,000 after buying an additional 82,906 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Hamilton Insurance Group by 31.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 642,260 shares of the company's stock valued at $12,222,000 after buying an additional 155,228 shares during the period. 29.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Keith Donald Bernhard sold 47,000 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $24.37, for a total value of $1,145,390.00. Following the sale, the insider directly owned 53,893 shares in the company, valued at $1,313,372.41. The trade was a 46.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander James Baker sold 6,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total value of $142,740.00. Following the sale, the insider owned 116,338 shares in the company, valued at $2,767,681.02. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,988 shares of company stock worth $1,743,842 over the last three months. Corporate insiders own 17.46% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on HG. BMO Capital Markets reissued 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. Citigroup began coverage on Hamilton Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $25.00 target price for the company. Barclays lifted their target price on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Wall Street Zen cut Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, Wells Fargo & Company raised their price target on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Hamilton Insurance Group has an average rating of "Hold" and a consensus price target of $25.43.

Hamilton Insurance Group Trading Down 0.1%

HG stock traded down $0.04 during midday trading on Monday, hitting $24.26. 25,125 shares of the company's stock were exchanged, compared to its average volume of 512,067. The stock's fifty day moving average price is $22.57 and its 200-day moving average price is $21.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $2.43 billion, a PE ratio of 6.70 and a beta of 0.81. 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 earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.54. The firm had revenue of $712.03 million for the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. Research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

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.