Insider Selling: Hamilton Insurance Group (NYSE:HG) CAO Sells 11,000 Shares of Stock

Key Points

• CAO Brian John Deegan sold 11,000 shares on May 5 at an average price of $30.69 for proceeds of $337,590, reducing his stake by 13.36% to 71,347 shares valued at about $2.19 million.
• The company reported a quarterly EPS beat of $1.64 versus the $1.08 consensus, though revenue missed at $758.9 million versus $933.9 million; net margin was 21.73% with a 23.18% return on equity.
• Shares trade around $30.70 with a market cap of $3.04 billion and a P/E of 5.02; analysts have a consensus "Moderate Buy" rating and a $33.43 average target, and the company paid a $2.00 special dividend on March 30.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) CAO Brian John Deegan sold 11,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total transaction of $337,590.00. Following the transaction, the chief accounting officer directly owned 71,347 shares in the company, valued at $2,189,639.43. The trade was a 13.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Hamilton Insurance Group Stock Performance

Shares of NYSE:HG traded up $0.53 during trading hours on Thursday, hitting $30.70. The stock had a trading volume of 414,986 shares, compared to its average volume of 531,658. The stock's fifty day simple moving average is $30.50 and its 200 day simple moving average is $28.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 5.02 and a beta of 0.58. Hamilton Insurance Group, Ltd. has a 1-year low of $18.76 and a 1-year high of $33.72.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.08 by $0.56. The business had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.18%. Sell-side analysts anticipate that Hamilton Insurance Group, Ltd. will post 3.46 earnings per share for the current fiscal year.

Hamilton Insurance Group Announces Dividend

The company also recently announced a special dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, March 6th were paid a $2.00 dividend. The ex-dividend date was Friday, March 6th.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Hamilton Insurance Group by 16.2% during the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company's stock valued at $131,378,000 after buying an additional 737,084 shares during the period. Donald Smith & CO. Inc. grew its position in Hamilton Insurance Group by 71.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company's stock valued at $43,325,000 after acquiring an additional 646,106 shares during the last quarter. Freestone Grove Partners LP bought a new position in Hamilton Insurance Group during the fourth quarter valued at approximately $16,667,000. Millennium Management LLC grew its position in Hamilton Insurance Group by 89.8% during the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company's stock valued at $24,599,000 after acquiring an additional 417,261 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Hamilton Insurance Group by 101.9% in the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company's stock worth $17,490,000 after purchasing an additional 355,947 shares during the last quarter. 29.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HG has been the topic of a number of recent research reports. Citizens Jmp raised their price objective on shares of Hamilton Insurance Group from $36.00 to $38.00 and gave the company a "market outperform" rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods increased their target price on shares of Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Monday, February 23rd. Zacks Research cut shares of Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Hamilton Insurance Group from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.43.

About Hamilton Insurance Group

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.

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