New Vernon Investment Management LLC Trims Stake in Hamilton Insurance Group, Ltd. (NYSE:HG)

New Vernon Investment Management LLC lessened its stake in shares of Hamilton Insurance Group, Ltd. (NYSE:HG) by 54.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,643 shares of the company’s stock after selling 53,879 shares during the quarter. Hamilton Insurance Group comprises about 0.5% of New Vernon Investment Management LLC’s investment portfolio, making the stock its 21st biggest position. New Vernon Investment Management LLC’s holdings in Hamilton Insurance Group were worth $850,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of HG. State Street Corp boosted its stake in shares of Hamilton Insurance Group by 133.3% during the third quarter. State Street Corp now owns 532,632 shares of the company’s stock valued at $10,301,000 after acquiring an additional 304,371 shares during the last quarter. Barclays PLC boosted its stake in shares of Hamilton Insurance Group by 845.0% during the 3rd quarter. Barclays PLC now owns 57,663 shares of the company’s stock worth $1,114,000 after purchasing an additional 51,561 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Hamilton Insurance Group by 136.5% during the third quarter. Geode Capital Management LLC now owns 475,553 shares of the company’s stock worth $9,197,000 after buying an additional 274,483 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Hamilton Insurance Group by 90.0% during the third quarter. Franklin Resources Inc. now owns 99,190 shares of the company’s stock worth $1,845,000 after buying an additional 46,978 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 727,242 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company’s stock.

Analyst Upgrades and Downgrades

HG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. JMP Securities set a $27.00 price objective on Hamilton Insurance Group in a research report on Friday, February 28th. Barclays set a $25.00 target price on Hamilton Insurance Group and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price target on Hamilton Insurance Group from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Hamilton Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Insider Buying and Selling

In related news, CEO Adrian Joseph Daws sold 3,785 shares of the business’s 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 transaction, the chief executive officer now directly owns 199,923 shares of the company’s stock, valued at approximately $4,198,383. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 15,000 shares of company stock valued at $311,566. Company insiders own 17.46% of the company’s stock.

Hamilton Insurance Group Price Performance

HG stock opened at $18.13 on Friday. The company has a market cap of $1.84 billion, a PE ratio of 4.06 and a beta of 0.47. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $19.52 and a two-hundred day moving average price of $18.97. Hamilton Insurance Group, Ltd. has a 12-month low of $13.20 and a 12-month high of $21.68.

Hamilton Insurance Group (NYSE:HG) last posted 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). Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. The business had revenue of $543.94 million during the quarter, compared to analysts’ expectations of $460.17 million. As a group, research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

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.