Algert Global LLC Makes New Investment in Hamilton Insurance Group, Ltd. (NYSE:HG)

Algert Global LLC purchased a new stake in shares of Hamilton Insurance Group, Ltd. (NYSE:HG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 12,857 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds have also modified their holdings of the stock. Alpha DNA Investment Management LLC acquired a new stake in Hamilton Insurance Group during the second quarter valued at $486,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Hamilton Insurance Group by 137.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 110,453 shares of the company’s stock valued at $1,839,000 after buying an additional 63,937 shares during the last quarter. Sei Investments Co. grew its stake in shares of Hamilton Insurance Group by 22.8% in the 2nd quarter. Sei Investments Co. now owns 250,725 shares of the company’s stock valued at $4,175,000 after buying an additional 46,540 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Hamilton Insurance Group by 40.7% in the second quarter. Renaissance Technologies LLC now owns 357,800 shares of the company’s stock worth $5,957,000 after buying an additional 103,426 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Hamilton Insurance Group in the second quarter worth approximately $6,454,000. 29.17% of the stock is owned by institutional investors and hedge funds.

Hamilton Insurance Group Price Performance

Shares of NYSE:HG opened at $18.74 on Friday. The company has a market cap of $2.08 billion and a price-to-earnings ratio of 5.70. The business has a 50 day moving average price of $18.57 and a 200 day moving average price of $16.59. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group, Ltd. has a twelve month low of $12.44 and a twelve month high of $20.71.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings data 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 the consensus estimate of $502.37 million. Hamilton Insurance Group had a net margin of 21.45% and a return on equity of 21.77%. Research analysts predict that Hamilton Insurance Group, Ltd. will post 4.21 earnings per share for the current year.

Analysts Set New Price Targets

HG has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday. JMP Securities upped their price objective on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, August 8th. Barclays began coverage on shares of Hamilton Insurance Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $26.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Hamilton Insurance Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley downgraded 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 note on Monday, August 19th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.43.

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.