State Street Corp Acquires 304,371 Shares of Hamilton Insurance Group, Ltd. (NYSE:HG)

State Street Corp lifted its position in shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Free Report) by 133.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 532,632 shares of the company's stock after acquiring an additional 304,371 shares during the quarter. State Street Corp owned 0.52% of Hamilton Insurance Group worth $10,301,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quarry LP grew its stake in Hamilton Insurance Group by 448.5% in the 3rd quarter. Quarry LP now owns 1,640 shares of the company's stock valued at $32,000 after acquiring an additional 1,341 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Hamilton Insurance Group during the third quarter worth about $34,000. US Bancorp DE purchased a new position in Hamilton Insurance Group in the third quarter valued at approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Hamilton Insurance Group during the 2nd quarter valued at $156,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Hamilton Insurance Group during the third quarter worth about $197,000. 29.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HG has been the subject of several recent analyst reports. Barclays assumed coverage on Hamilton Insurance Group in a research note on Wednesday, September 4th. They set an "overweight" rating and a $26.00 target price for the company. Wells Fargo & Company upped 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Hamilton Insurance Group currently has an average rating of "Moderate Buy" and a consensus target price of $22.60.

Insider Activity

In other news, CAO Brian John Deegan sold 17,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $19.18, for a total value of $335,650.00. Following the completion of the sale, the chief accounting officer now directly owns 20,824 shares of the company's stock, valued at approximately $399,404.32. This represents a 45.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Hamilton Insurance Group Price Performance

NYSE:HG traded down $0.28 during mid-day trading on Friday, reaching $18.68. 419,250 shares of the stock were exchanged, compared to its average volume of 422,459. The business has a fifty day moving average price of $18.50 and a 200 day moving average price of $17.97. The firm has a market capitalization of $1.89 billion and a PE ratio of 4.18. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. 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 - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $515.96 million. During the same period last year, the firm posted $0.41 earnings per share. 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.