Prospector Partners LLC Raises Stock Position in Hamilton Insurance Group, Ltd. (NYSE:HG)

Prospector Partners LLC grew its holdings in Hamilton Insurance Group, Ltd. (NYSE:HG) by 68.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,380 shares of the company’s stock after purchasing an additional 15,580 shares during the quarter. Prospector Partners LLC’s holdings in Hamilton Insurance Group were worth $730,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Hamilton Insurance Group by 198.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock valued at $71,859,000 after buying an additional 2,469,422 shares during the period. JPMorgan Chase & Co. boosted its holdings in Hamilton Insurance Group by 538.4% in the third quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock valued at $16,677,000 after purchasing an additional 727,242 shares during the period. Private Management Group Inc. acquired a new position in Hamilton Insurance Group during the 4th quarter worth $10,511,000. State Street Corp increased its holdings in Hamilton Insurance Group by 133.3% during 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 period. Finally, Geode Capital Management LLC raised its position in Hamilton Insurance Group by 0.5% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 29.17% of the company’s stock.

Hamilton Insurance Group Price Performance

Shares of HG opened at $19.27 on Friday. The firm has a fifty day moving average price of $19.78 and a 200 day moving average price of $19.05. The stock has a market cap of $1.95 billion, a PE ratio of 4.31 and a beta of 0.47. Hamilton Insurance Group, Ltd. has a 1-year low of $12.44 and a 1-year high of $21.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.44). The firm had revenue of $543.94 million for the quarter, compared to analyst estimates 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 anticipate that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Insider Buying and Selling

In other Hamilton Insurance Group news, CEO Adrian Joseph Daws sold 3,785 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $21.00, for a total transaction of $79,485.00. Following the completion of the sale, the chief executive officer now directly owns 199,923 shares of the company’s stock, valued at approximately $4,198,383. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 15,000 shares of company stock worth $311,566 in the last 90 days. Company insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HG. JMP Securities set a $27.00 target price on shares of Hamilton Insurance Group in a report on Friday, February 28th. Barclays set a $25.00 price objective on shares of Hamilton Insurance Group and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Keefe, Bruyette & Woods raised their price target on Hamilton Insurance Group from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company lifted their price target on Hamilton Insurance Group from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.80.

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.