Insider Selling: Hamilton Insurance Group (NYSE:HG) Insider Sells 47,000 Shares of Stock

Key Points

• Keith Donald Bernhard, an insider at Hamilton Insurance Group, sold 47,000 shares at an average price of $24.37, resulting in a total sale value of $1,145,390, and a 46.58% reduction in his position.
• After the insider transaction, Hamilton Insurance Group's stock traded down 1.6%, closing at $24.04, although it has shown significant growth from its 12-month low of $16.80.
• Recent quarterly earnings indicated robust performance, with the company reporting an EPS of $1.55, exceeding estimates and indicating a favorable net margin of 14.67%.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) insider Keith Donald Bernhard sold 47,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $24.37, for a total value of $1,145,390.00. Following the completion of the transaction, the insider owned 53,893 shares of the company's stock, valued at approximately $1,313,372.41. The trade was a 46.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hamilton Insurance Group Stock Down 1.6%

Hamilton Insurance Group stock traded down $0.38 during trading hours on Monday, hitting $24.04. The stock had a trading volume of 452,504 shares, compared to its average volume of 529,965. The stock's 50-day moving average price is $22.36 and its 200-day moving average price is $20.92. The stock has a market capitalization of $2.41 billion, a P/E ratio of 7.93 and a beta of 0.81. Hamilton Insurance Group, Ltd. has a 12-month low of $16.80 and a 12-month high of $24.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $712.03 million during the quarter, compared to analysts' expectations of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. 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 added to or reduced their stakes in the business. Amalgamated Bank grew its holdings 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 stake 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 worth $35,000 after purchasing an additional 1,075 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Hamilton Insurance Group during the first quarter worth about $62,000. Ameritas Investment Partners Inc. boosted its position 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 during the last quarter. Finally, Strs Ohio acquired a new position in Hamilton Insurance Group in the 1st quarter worth approximately $112,000. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HG shares. Wall Street Zen downgraded shares of Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Citigroup began coverage on shares of Hamilton Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $25.00 target price for the company. BMO Capital Markets reaffirmed a "market perform" rating and issued a $23.00 price target on shares of Hamilton Insurance Group in a research note on Thursday, June 5th. JMP Securities boosted their price objective on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley reaffirmed a "cautious" rating and set a $23.00 target price on shares of Hamilton Insurance Group in a research report on Monday, August 18th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.43.

About Hamilton Insurance Group

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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