Jacobs Levy Equity Management Inc. Takes Position in Hamilton Insurance Group, Ltd. (NYSE:HG)

Jacobs Levy Equity Management Inc. acquired a new stake in Hamilton Insurance Group, Ltd. (NYSE:HG) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 487,032 shares of the company’s stock, valued at approximately $9,419,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in Hamilton Insurance Group during the 1st quarter valued at about $2,545,000. California State Teachers Retirement System acquired a new position in Hamilton Insurance Group during the first quarter worth approximately $233,000. SG Americas Securities LLC acquired a new position in Hamilton Insurance Group during the second quarter worth approximately $295,000. Bailard Inc. increased its position in Hamilton Insurance Group by 223.1% during the second quarter. Bailard Inc. now owns 33,600 shares of the company’s stock worth $559,000 after buying an additional 23,200 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Hamilton Insurance Group by 63.7% in the second quarter. Bank of New York Mellon Corp now owns 51,359 shares of the company’s stock valued at $855,000 after purchasing an additional 19,991 shares during the period. 29.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays began coverage on 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. Morgan Stanley downgraded Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a research report on Monday, August 19th. Keefe, Bruyette & Woods upped their target price on Hamilton Insurance Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, JMP Securities lifted their price target on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.60.

Insiders Place Their Bets

In related news, CAO Brian John Deegan sold 17,500 shares of Hamilton Insurance Group stock in a transaction on Monday, November 25th. The shares were sold at an average price of $19.18, for a total value of $335,650.00. Following the transaction, the chief accounting officer now owns 20,824 shares in the company, valued at $399,404.32. This trade represents a 45.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

Hamilton Insurance Group Stock Performance

NYSE:HG opened at $19.27 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a 50-day moving average of $18.41 and a two-hundred day moving average of $17.77. The stock has a market cap of $1.95 billion and a P/E ratio of 4.31. Hamilton Insurance Group, Ltd. has a 1-year low of $12.44 and a 1-year high of $20.71.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. The firm had revenue of $512.84 million for the quarter, compared to analyst estimates of $515.96 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, research analysts expect that Hamilton Insurance Group, Ltd. will post 4.03 earnings per share 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.