JPMorgan Chase & Co. Reduces Stock Position in Hamilton Insurance Group, Ltd. (NYSE:HG)

JPMorgan Chase & Co. lessened its holdings in shares of Hamilton Insurance Group, Ltd. (NYSE:HG) by 30.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 600,646 shares of the company’s stock after selling 261,668 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hamilton Insurance Group were worth $11,430,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in Hamilton Insurance Group during the fourth quarter worth about $38,000. Bfsg LLC acquired a new position in shares of Hamilton Insurance Group during the 4th quarter valued at $77,000. Toronto Dominion Bank purchased a new stake in Hamilton Insurance Group during the 3rd quarter worth $97,000. Morgan Dempsey Capital Management LLC acquired a new stake in Hamilton Insurance Group in the 4th quarter valued at $147,000. Finally, Bellecapital International Ltd. purchased a new position in Hamilton Insurance Group in the fourth quarter valued at about $193,000. 29.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hamilton Insurance Group news, CEO Adrian Joseph Daws sold 3,785 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $21.00, for a total transaction of $79,485.00. Following the sale, the chief executive officer now owns 199,923 shares in the company, valued at $4,198,383. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 15,000 shares of company stock valued at $311,566 in the last ninety days. Corporate insiders own 2.70% of the company’s stock.

Hamilton Insurance Group Price Performance

Shares of NYSE HG opened at $17.49 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group, Ltd. has a fifty-two week low of $12.90 and a fifty-two week high of $21.68. The business has a 50 day moving average price of $19.61 and a two-hundred day moving average price of $19.00. The firm has a market cap of $1.77 billion, a PE ratio of 3.91 and a beta of 0.47.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.44). The company had revenue of $543.94 million for the quarter, compared to analyst estimates of $460.17 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. Sell-side analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HG. Keefe, Bruyette & Woods increased their target price on Hamilton Insurance Group from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Barclays set a $25.00 price objective on shares of Hamilton Insurance Group and gave the company an “overweight” rating in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on shares of Hamilton Insurance Group from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, JMP Securities set a $27.00 price target on shares of Hamilton Insurance Group in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Hamilton Insurance Group currently has an average rating of “Moderate Buy” and a consensus price target of $23.60.

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.