Allspring Global Investments Holdings LLC Buys New Position in Hamilton Insurance Group, Ltd. (NYSE:HG)

Allspring Global Investments Holdings LLC bought a new stake in shares of Hamilton Insurance Group, Ltd. (NYSE:HG) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,815 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Swiss National Bank bought a new position in Hamilton Insurance Group in the first quarter worth $462,000. Gillson Capital LP bought a new position in Hamilton Insurance Group in the fourth quarter worth $1,314,000. Weiss Asset Management LP bought a new position in Hamilton Insurance Group in the fourth quarter worth $748,000. BNP Paribas Financial Markets bought a new position in Hamilton Insurance Group in the first quarter worth $1,473,000. Finally, Sei Investments Co. increased its holdings in shares of Hamilton Insurance Group by 25.3% during the first quarter. Sei Investments Co. now owns 204,185 shares of the company’s stock valued at $2,844,000 after acquiring an additional 41,256 shares in the last quarter. Institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Trading Down 0.4 %

Shares of NYSE:HG opened at $19.25 on Friday. The stock has a market capitalization of $2.14 billion and a price-to-earnings ratio of 5.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $17.57 and its two-hundred day simple moving average is $15.82. Hamilton Insurance Group, Ltd. has a 52-week low of $12.44 and a 52-week high of $20.06.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Wednesday, August 7th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.29. The business had revenue of $587.94 million for the quarter, compared to analysts’ expectations of $502.37 million. Hamilton Insurance Group had a return on equity of 21.77% and a net margin of 21.45%. Analysts expect that Hamilton Insurance Group, Ltd. will post 4.21 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HG shares. Barclays started coverage on Hamilton Insurance Group in a report on Wednesday. They set an “overweight” rating and a $26.00 price target for the company. Wells Fargo & Company raised their price target on Hamilton Insurance Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods increased their price objective on Hamilton Insurance Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Morgan Stanley cut Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock. in a research report on Monday, August 19th. Finally, JMP Securities increased their price objective on Hamilton Insurance Group from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.29.

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.