Wedge Capital Management L L P NC Invests $1.39 Million in Hamilton Insurance Group, Ltd. $HG

Wedge Capital Management L L P NC acquired a new position in Hamilton Insurance Group, Ltd. (NYSE:HG) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 55,831 shares of the company’s stock, valued at approximately $1,385,000. Wedge Capital Management L L P NC owned approximately 0.06% of Hamilton Insurance Group at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Flaharty Asset Management LLC acquired a new position in Hamilton Insurance Group during the 1st quarter worth $62,000. CWM LLC lifted its holdings in Hamilton Insurance Group by 167.7% in the second quarter. CWM LLC now owns 4,545 shares of the company’s stock worth $98,000 after purchasing an additional 2,847 shares during the period. Ameritas Investment Partners Inc. grew its position in Hamilton Insurance Group by 14.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock valued at $99,000 after buying an additional 585 shares in the last quarter. Strs Ohio bought a new position in Hamilton Insurance Group in the 1st quarter valued at about $112,000. Finally, Tower Research Capital LLC TRC increased its stake in Hamilton Insurance Group by 24.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company’s stock valued at $123,000 after buying an additional 1,101 shares during the period. Institutional investors own 29.17% of the company’s stock.

Insider Activity at Hamilton Insurance Group

In other Hamilton Insurance Group news, CEO Alexander James Baker sold 18,350 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $26.19, for a total value of $480,586.50. Following the completion of the transaction, the chief executive officer directly owned 84,136 shares in the company, valued at $2,203,521.84. This trade represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 17.46% of the stock is currently owned by insiders.

Hamilton Insurance Group Stock Performance

Shares of NYSE HG opened at $28.47 on Wednesday. The stock’s fifty day simple moving average is $26.08 and its 200 day simple moving average is $23.89. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 6.78 and a beta of 0.70. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group, Ltd. has a 52-week low of $16.80 and a 52-week high of $28.72.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $0.71 by $0.61. The business had revenue of $667.65 million during the quarter, compared to the consensus estimate of $537.70 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%. As a group, sell-side analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Wednesday, October 8th. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Barclays boosted their price objective on Hamilton Insurance Group from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. BMO Capital Markets restated a “market perform” rating and issued a $26.00 price objective on shares of Hamilton Insurance Group in a report on Tuesday. Finally, Citizens Jmp lifted their target price on Hamilton Insurance Group from $31.00 to $32.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.13.

About Hamilton Insurance Group

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.