Hamilton Insurance Group (NYSE:HG) Shares Gap Down on Insider Selling

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) shares gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $22.08, but opened at $21.34. Hamilton Insurance Group shares last traded at $20.69, with a volume of 281,104 shares trading hands.

Specifically, CEO Adrian Joseph Daws sold 6,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 190,440 shares in the company, valued at $4,189,680. This represents a 3.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several research firms have recently weighed in on HG. Wells Fargo & Company lowered their price objective on shares of Hamilton Insurance Group from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Barclays set a $25.00 price objective on shares of Hamilton Insurance Group and gave the company an "overweight" rating in a research report on Thursday, February 27th. JMP Securities set a $27.00 price objective on shares of Hamilton Insurance Group in a research report on Friday, February 28th. Morgan Stanley raised their price objective on shares of Hamilton Insurance Group from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and four have given 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 target price of $23.67.

Hamilton Insurance Group Stock Performance

The company has a market cap of $2.13 billion, a PE ratio of 4.71 and a beta of 0.91. The business's 50-day moving average is $19.69 and its 200 day moving average is $19.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.43. The company had revenue of $843.31 million for the quarter, compared to analysts' expectations of $498.00 million. Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. On average, equities research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Hamilton Insurance Group

Large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its holdings in Hamilton Insurance Group by 295.1% in 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 last quarter. Amalgamated Bank increased its position in shares of 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 acquiring an additional 685 shares during the period. CWM LLC increased its position in shares of Hamilton Insurance Group by 172.6% in the first quarter. CWM LLC now owns 1,698 shares of the company's stock valued at $35,000 after acquiring an additional 1,075 shares during the period. Spire Wealth Management purchased a new position in shares of Hamilton Insurance Group in the fourth quarter valued at about $38,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Hamilton Insurance Group in the first quarter valued at about $62,000. Hedge funds and other institutional investors own 29.17% of the company's stock.

Hamilton Insurance Group Company 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.