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

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) shares gapped down before the market opened on Thursday following insider selling activity. 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 traded.

Specifically, CEO Adrian Joseph Daws sold 6,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the transaction, the chief executive officer now directly owns 190,440 shares in the company, valued at approximately $4,189,680. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays set a $25.00 price target on Hamilton Insurance Group and gave the company an "overweight" rating in a research note on Thursday, February 27th. Wells Fargo & Company cut their target price on 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. BMO Capital Markets restated a "market perform" rating and set a $23.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday. Keefe, Bruyette & Woods lifted their price objective on Hamilton Insurance Group from $23.00 to $25.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Finally, Morgan Stanley lifted their price objective on Hamilton Insurance Group from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $23.67.

Hamilton Insurance Group Stock Up 1.9%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The firm's 50-day moving average price is $19.70 and its 200 day moving average price is $19.48. The firm has a market cap of $2.18 billion, a P/E ratio of 4.80 and a beta of 0.91.

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

Hedge Funds Weigh In On Hamilton Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HG. Sterling Capital Management LLC lifted its stake in shares of Hamilton Insurance Group by 295.1% in the 4th quarter. Sterling Capital Management LLC now owns 1,517 shares of the company's stock valued at $29,000 after purchasing an additional 1,133 shares during the last quarter. Amalgamated Bank raised 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. CWM LLC raised its position in shares of Hamilton Insurance Group by 172.6% during the first quarter. CWM LLC now owns 1,698 shares of the company's stock valued at $35,000 after buying an additional 1,075 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Hamilton Insurance Group during the fourth quarter valued at about $38,000. Finally, Flaharty Asset Management LLC bought a new stake in Hamilton Insurance Group in the first quarter valued at about $62,000. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

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.