Hamilton Insurance Group, Ltd. (NYSE:HG) Position Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in Hamilton Insurance Group, Ltd. (NYSE:HG) by 44.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 290,600 shares of the company’s stock after selling 228,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Hamilton Insurance Group were worth $5,530,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in Hamilton Insurance Group by 538.4% in the third quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock worth $16,677,000 after buying an additional 727,242 shares during the period. Private Management Group Inc. bought a new stake in Hamilton Insurance Group in the 4th quarter valued at about $10,511,000. State Street Corp grew its position in Hamilton Insurance Group by 133.3% in the 3rd quarter. State Street Corp now owns 532,632 shares of the company’s stock worth $10,301,000 after purchasing an additional 304,371 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Hamilton Insurance Group by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 478,057 shares of the company’s stock valued at $9,097,000 after purchasing an additional 2,504 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Hamilton Insurance Group by 1.9% in the fourth quarter. Federated Hermes Inc. now owns 424,211 shares of the company’s stock valued at $8,073,000 after purchasing an additional 7,886 shares during the period. 29.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Hamilton Insurance Group news, CEO Adrian Joseph Daws sold 3,785 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $21.00, for a total transaction of $79,485.00. Following the sale, the chief executive officer now owns 199,923 shares in the company, valued at approximately $4,198,383. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 15,000 shares of company stock worth $311,566. Insiders own 17.46% of the company’s stock.

Hamilton Insurance Group Price Performance

NYSE:HG opened at $18.51 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $19.57 and its 200 day moving average price is $18.98. Hamilton Insurance Group, Ltd. has a 52-week low of $13.20 and a 52-week high of $21.68. The firm has a market cap of $1.88 billion, a P/E ratio of 4.14 and a beta of 0.47.

Hamilton Insurance Group (NYSE:HG) last released its earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.44). The business had revenue of $543.94 million during the quarter, compared to the consensus estimate of $460.17 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. As a group, sell-side analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HG shares. Keefe, Bruyette & Woods increased their price objective on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Wells Fargo & Company cut their price objective on shares of Hamilton Insurance Group from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Barclays set a $25.00 price objective on shares of Hamilton Insurance Group and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, JMP Securities set a $27.00 price target on shares of Hamilton Insurance Group in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

Hamilton Insurance Group 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.