Insider Selling: Hamilton Insurance Group, Ltd. (NYSE:HG) Insider Sells 18,988 Shares of 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 company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $24.00, for a total value of $455,712.00. Following the transaction, the insider directly owned 64,512 shares in the company, valued at $1,548,288. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hamilton Insurance Group Stock Performance

Shares of Hamilton Insurance Group stock traded down $0.32 during trading hours on Monday, hitting $23.03. 545,564 shares of the company's stock traded hands, compared to its average volume of 515,702. Hamilton Insurance Group, Ltd. has a 12-month low of $16.80 and a 12-month high of $24.54. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 6.36 and a beta of 0.81. The company has a fifty day simple moving average of $21.49 and a 200-day simple moving average of $20.34. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.69.

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 (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. The firm had revenue of $712.03 million during the quarter, compared to analyst estimates of $519.50 million. Equities research analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Hamilton Insurance Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 478,057 shares of the company's stock worth $9,097,000 after purchasing an additional 2,504 shares during the period. Wells Fargo & Company MN boosted its stake in Hamilton Insurance Group by 28.8% in the 4th quarter. Wells Fargo & Company MN now owns 23,408 shares of the company's stock worth $445,000 after purchasing an additional 5,234 shares during the period. Invesco Ltd. bought a new position in Hamilton Insurance Group in the 4th quarter worth about $465,000. Legal & General Group Plc boosted its stake in Hamilton Insurance Group by 19.0% in the 4th quarter. Legal & General Group Plc now owns 27,187 shares of the company's stock worth $517,000 after purchasing an additional 4,336 shares during the period. Finally, Sterling Capital Management LLC boosted its stake 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 purchasing an additional 1,133 shares during the period. Institutional investors own 29.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HG shares. Barclays upped their target price on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Wall Street Zen lowered Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research report on Sunday. Morgan Stanley reissued a "cautious" rating on shares of Hamilton Insurance Group in a research report on Monday. BMO Capital Markets reissued a "market perform" rating and issued a $23.00 price target on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Finally, Citigroup initiated coverage on Hamilton Insurance Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently 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.

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