Hamilton Insurance Group, Ltd. $HG Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Hamilton Insurance Group, Ltd. (NYSE:HG) by 23.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 269,118 shares of the company’s stock after selling 82,967 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hamilton Insurance Group were worth $6,674,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HG. Polymer Capital Management US LLC purchased a new position in shares of Hamilton Insurance Group in the 3rd quarter valued at approximately $363,000. Mariner LLC grew its position in Hamilton Insurance Group by 107.3% during the 3rd quarter. Mariner LLC now owns 57,687 shares of the company’s stock worth $1,431,000 after purchasing an additional 29,856 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Hamilton Insurance Group during the 3rd quarter valued at approximately $245,000. Millennium Management LLC raised its holdings in shares of Hamilton Insurance Group by 2.9% in the third quarter. Millennium Management LLC now owns 464,406 shares of the company’s stock worth $11,517,000 after buying an additional 13,018 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Hamilton Insurance Group in the third quarter worth $3,962,000. Institutional investors and hedge funds own 29.17% of the company’s stock.

Hamilton Insurance Group Price Performance

Shares of HG opened at $29.82 on Wednesday. The business’s 50-day moving average is $29.35 and its two-hundred day moving average is $27.12. The company has a market capitalization of $2.95 billion, a P/E ratio of 5.35 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. Hamilton Insurance Group, Ltd. has a fifty-two week low of $16.80 and a fifty-two week high of $32.21.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a return on equity of 19.43% and a net margin of 19.85%.The business had revenue of $728.33 million during the quarter, compared to analysts’ expectations of $621.00 million. Research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current year.

Hamilton Insurance Group Dividend Announcement

The business also recently declared a special dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 6th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, March 6th.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HG. Morgan Stanley set a $28.00 price objective on shares of Hamilton Insurance Group in a report on Tuesday, December 16th. Keefe, Bruyette & Woods lifted their price target on Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Zacks Research downgraded Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citigroup lifted their target price on Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.29.

Hamilton Insurance Group Profile

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.