Renaissance Technologies LLC Decreases Stock Position in Hamilton Insurance Group, Ltd. $HG

Renaissance Technologies LLC reduced its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG) by 82.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,548 shares of the company’s stock after selling 128,252 shares during the quarter. Renaissance Technologies LLC’s holdings in Hamilton Insurance Group were worth $822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of 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 worth $131,378,000 after purchasing an additional 737,084 shares in the last quarter. Nuveen LLC lifted its stake in Hamilton Insurance Group by 3.5% in the 4th quarter. Nuveen LLC now owns 2,220,738 shares of the company’s stock valued at $61,959,000 after buying an additional 74,194 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in Hamilton Insurance Group by 71.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock valued at $43,325,000 after buying an additional 646,106 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Hamilton Insurance Group by 10.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company’s stock valued at $44,659,000 after buying an additional 140,474 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Hamilton Insurance Group by 32.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company’s stock valued at $40,312,000 after buying an additional 332,405 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on HG shares. Morgan Stanley lifted their price objective on Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods upped their target price on shares of Hamilton Insurance Group from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup reaffirmed a “neutral” rating on shares of Hamilton Insurance Group in a research note on Wednesday. UBS Group set a $33.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday, May 21st. Finally, Weiss Ratings raised shares of Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, June 12th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Hamilton Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Hamilton Insurance Group Stock Up 1.8%

Shares of NYSE:HG opened at $35.86 on Friday. The stock’s 50-day moving average price is $34.07 and its two-hundred day moving average price is $31.61. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group, Ltd. has a 12-month low of $22.66 and a 12-month high of $37.31. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 6.25 and a beta of 0.33.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $1.56 EPS for the quarter. The company had revenue of $839.58 million during the quarter. Hamilton Insurance Group had a net margin of 19.56% and a return on equity of 22.60%. On average, research analysts forecast that Hamilton Insurance Group, Ltd. will post 4.12 EPS for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In related news, Director David A. Brown sold 37,300 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $32.16, for a total value of $1,199,568.00. Following the transaction, the director directly owned 450,000 shares of the company’s stock, valued at approximately $14,472,000. This trade represents a 7.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.02% of the stock is currently owned by company 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.