SG Americas Securities LLC Reduces Position in Hamilton Insurance Group, Ltd. $HG

SG Americas Securities LLC decreased its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG) by 40.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 200,323 shares of the company’s stock after selling 134,829 shares during the period. SG Americas Securities LLC’s holdings in Hamilton Insurance Group were worth $5,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HG. Wellington Management Group LLP boosted its holdings in Hamilton Insurance Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after acquiring an additional 737,084 shares during the period. Donald Smith & CO. Inc. increased its stake in Hamilton Insurance Group by 71.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock worth $43,325,000 after purchasing an additional 646,106 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Hamilton Insurance Group during the fourth quarter worth $16,667,000. Millennium Management LLC lifted its position in shares of Hamilton Insurance Group by 89.8% during the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock worth $24,599,000 after purchasing an additional 417,261 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Hamilton Insurance Group by 101.9% during the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock valued at $17,490,000 after purchasing an additional 355,947 shares during the period. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HG has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Hamilton Insurance Group from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Morgan Stanley lifted their price objective on shares of Hamilton Insurance Group from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. UBS Group set a $33.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday, May 21st. Barclays upped their target price on shares of Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Hamilton Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Hamilton Insurance Group Stock Performance

Shares of Hamilton Insurance Group stock opened at $33.49 on Monday. The firm has a market cap of $3.32 billion, a P/E ratio of 5.48 and a beta of 0.45. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group, Ltd. has a 12 month low of $20.44 and a 12 month high of $33.72. The stock’s fifty day moving average price is $31.40 and its 200-day moving average price is $29.75.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The company had revenue of $758.91 million during the quarter, compared to analyst estimates of $933.90 million. On average, equities research analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In related news, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $185,955.75. Following the transaction, the treasurer directly owned 39,629 shares of the company’s stock, valued at $1,213,043.69. This trade represents a 13.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David A. Brown sold 37,300 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the completion of the transaction, the director directly owned 450,000 shares of the company’s stock, valued at $14,472,000. This trade represents a 7.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is currently owned by corporate insiders.

Hamilton Insurance Group Company 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.