Point72 Asset Management L.P. Decreases Stake in Hamilton Insurance Group, Ltd. (NYSE:HG)

Point72 Asset Management L.P. lowered its position in Hamilton Insurance Group, Ltd. (NYSE:HG) by 73.6% during the second quarter, HoldingsChannel.com reports. The fund owned 23,218 shares of the company’s stock after selling 64,764 shares during the quarter. Point72 Asset Management L.P.’s holdings in Hamilton Insurance Group were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in Hamilton Insurance Group in the 4th quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Hamilton Insurance Group in the second quarter valued at $34,000. American International Group Inc. acquired a new stake in shares of Hamilton Insurance Group in the 1st quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Hamilton Insurance Group in the 2nd quarter worth approximately $156,000. Finally, Fifth Lane Capital LP bought a new stake in shares of Hamilton Insurance Group during the 1st quarter valued at about $151,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HG. JMP Securities boosted their price objective on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 8th. Morgan Stanley lowered shares of Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research report on Monday, August 19th. Wells Fargo & Company boosted their target price on Hamilton Insurance Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Barclays assumed coverage on shares of Hamilton Insurance Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $26.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price objective on Hamilton Insurance Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.29.

Hamilton Insurance Group Trading Up 0.7 %

Shares of NYSE:HG opened at $18.75 on Friday. Hamilton Insurance Group, Ltd. has a 1 year low of $12.44 and a 1 year high of $20.71. The firm has a fifty day moving average price of $18.49 and a 200 day moving average price of $16.46. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $2.08 billion and a PE ratio of 5.70.

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

Hamilton Insurance Group Company 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.