Point72 Asia Singapore Pte. Ltd. Decreases Stock Position in Hamilton Insurance Group, Ltd. (NYSE:HG)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG) by 56.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,689 shares of the company’s stock after selling 21,544 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Hamilton Insurance Group were worth $278,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP bought a new stake in shares of Hamilton Insurance Group in the fourth quarter worth $19,249,000. Federated Hermes Inc. purchased a new position in shares of Hamilton Insurance Group in the second quarter worth approximately $6,454,000. American Century Companies Inc. grew its position in Hamilton Insurance Group by 17.7% during the second quarter. American Century Companies Inc. now owns 2,084,332 shares of the company’s stock valued at $34,704,000 after buying an additional 313,417 shares during the period. Acadian Asset Management LLC purchased a new stake in Hamilton Insurance Group during the first quarter valued at approximately $3,831,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Hamilton Insurance Group during the fourth quarter valued at approximately $3,738,000. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HG shares. Barclays assumed coverage on shares of Hamilton Insurance Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $26.00 price objective for the company. JMP Securities upped their price target 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. Keefe, Bruyette & Woods lifted 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. Wells Fargo & Company increased their target price on shares of Hamilton Insurance Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Morgan Stanley downgraded shares of Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.29.

Hamilton Insurance Group Stock Performance

NYSE:HG opened at $19.85 on Friday. The stock has a 50-day moving average price of $18.17 and a 200 day moving average price of $16.21. The stock has a market capitalization of $2.02 billion and a P/E ratio of 6.03. Hamilton Insurance Group, Ltd. has a 12-month low of $12.44 and a 12-month high of $20.71. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

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, beating analysts’ consensus estimates of $0.91 by $0.29. The business had revenue of $587.94 million during 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%. Equities research analysts forecast that Hamilton Insurance Group, Ltd. will post 4.21 EPS for the current fiscal year.

About Hamilton Insurance Group

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.