Hamilton Insurance Group, Ltd. $HG Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Hamilton Insurance Group by 26.1%, purchasing an additional 963,021 shares, bringing its total holdings to approximately 4.59% of the company.
• Several other institutions also raised their stakes significantly during the first quarter, with Amalgamated Bank growing its stake by 92.2% and Victory Capital Management increasing theirs by 279.5%.
• Analysts have upgraded their price targets for Hamilton Insurance Group, with Wells Fargo raising its target from $24.00 to $26.00 and JMP Securities increasing theirs from $27.00 to $29.00, indicating positive sentiment towards the stock.

Wellington Management Group LLP boosted its position in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 26.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,658,454 shares of the company's stock after acquiring an additional 963,021 shares during the period. Wellington Management Group LLP owned 4.59% of Hamilton Insurance Group worth $96,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HG. Geode Capital Management LLC raised its stake in Hamilton Insurance Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 478,057 shares of the company's stock worth $9,097,000 after acquiring an additional 2,504 shares during the period. Wells Fargo & Company MN raised its stake in Hamilton Insurance Group by 28.8% during the 4th quarter. Wells Fargo & Company MN now owns 23,408 shares of the company's stock worth $445,000 after acquiring an additional 5,234 shares during the period. Invesco Ltd. bought a new stake in Hamilton Insurance Group during the 4th quarter worth approximately $465,000. Legal & General Group Plc raised its stake in Hamilton Insurance Group by 19.0% during the 4th quarter. Legal & General Group Plc now owns 27,187 shares of the company's stock worth $517,000 after acquiring an additional 4,336 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Hamilton Insurance Group by 295.1% during the 4th 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 period. Institutional investors own 29.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HG shares. Barclays raised their target price on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Citigroup initiated coverage on shares of Hamilton Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $25.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Hamilton Insurance Group from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $23.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $25.43.

Hamilton Insurance Group Price Performance

Shares of HG stock traded up $0.66 on Wednesday, reaching $24.02. The company's stock had a trading volume of 62,881 shares, compared to its average volume of 515,285. The stock's fifty day simple moving average is $21.83 and its 200-day simple moving average is $20.56. Hamilton Insurance Group, Ltd. has a 1 year low of $16.80 and a 1 year high of $24.54. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 6.62 and a beta of 0.81.

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, beating analysts' consensus estimates of $1.01 by $0.54. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. The firm had revenue of $712.03 million during the quarter, compared to analyst estimates of $519.50 million. Analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Adrian Joseph Daws sold 6,000 shares of the business'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 completion of the sale, the chief executive officer directly owned 190,440 shares of the company's stock, valued at approximately $4,189,680. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander James Baker sold 6,000 shares of Hamilton Insurance Group stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the completion of the sale, the insider owned 116,338 shares of the company's stock, valued at $2,767,681.02. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,988 shares of company stock valued at $730,452 over the last three months. 17.46% of the stock is owned by company insiders.

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.