Hamilton Insurance Group (NYSE:HG) Insider Sells $455,712.00 in Stock

Key Points

• Insider Venkatanarayana Krishnamoorthy sold 18,988 shares of Hamilton Insurance Group at an average price of $24.00, reducing their ownership by 22.74%.
• The company's stock is currently trading at $23.03, with a 12-month high of $24.54 and a market capitalization of $2.31 billion.
• In its latest earnings report, Hamilton Insurance Group reported $1.55 earnings per share, surpassing the consensus estimate and revealing significant growth in revenue.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $24.00, for a total transaction of $455,712.00. Following the transaction, the insider owned 64,512 shares in the company, valued at approximately $1,548,288. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Hamilton Insurance Group Stock Up 0.1%

Shares of NYSE HG traded up $0.02 during midday trading on Friday, reaching $24.11. 441,654 shares of the company's stock traded hands, compared to its average volume of 502,244. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.06. The stock's 50 day simple moving average is $21.74 and its 200-day simple moving average is $20.50. Hamilton Insurance Group, Ltd. has a one year low of $16.80 and a one year high of $24.54. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 6.66 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.54. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. On average, analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HG. Sterling Capital Management LLC lifted its position in Hamilton Insurance Group by 295.1% during the fourth 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 period. Amalgamated Bank lifted its position in 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 purchasing an additional 685 shares during the period. CWM LLC lifted its position in 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 purchasing an additional 1,075 shares during the period. Flaharty Asset Management LLC acquired a new position in Hamilton Insurance Group during the first quarter valued at $62,000. Finally, Ameritas Investment Partners Inc. increased its holdings in Hamilton Insurance Group by 14.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock valued at $99,000 after buying an additional 585 shares in the last quarter. 29.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Hamilton Insurance Group from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $23.00 price target on shares of Hamilton Insurance Group in a report on Thursday, June 5th. Wall Street Zen cut shares of Hamilton Insurance Group from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Citigroup began coverage on shares of Hamilton Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $25.00 price target for the company. Finally, Barclays raised their price target on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $25.43.

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.