Franklin Resources Inc. Has $1.85 Million Stock Position in Hamilton Insurance Group, Ltd. (NYSE:HG)

Franklin Resources Inc. raised its stake in Hamilton Insurance Group, Ltd. (NYSE:HG) by 90.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 99,190 shares of the company’s stock after acquiring an additional 46,978 shares during the period. Franklin Resources Inc.’s holdings in Hamilton Insurance Group were worth $1,845,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of Hamilton Insurance Group by 198.2% in the third quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock valued at $71,859,000 after purchasing an additional 2,469,422 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Hamilton Insurance Group in the third quarter valued at $9,419,000. Federated Hermes Inc. acquired a new stake in Hamilton Insurance Group in the 2nd quarter valued at $6,454,000. American Century Companies Inc. lifted its position in Hamilton Insurance Group by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 2,084,332 shares of the company’s stock worth $34,704,000 after buying an additional 313,417 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Hamilton Insurance Group by 133.3% during the 3rd quarter. State Street Corp now owns 532,632 shares of the company’s stock worth $10,301,000 after buying an additional 304,371 shares during the last quarter. Institutional investors and hedge funds own 29.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HG shares. Wells Fargo & Company upped their price objective on Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Barclays assumed coverage on Hamilton Insurance Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.60.

Hamilton Insurance Group Stock Performance

NYSE:HG opened at $18.96 on Friday. Hamilton Insurance Group, Ltd. has a 1-year low of $12.44 and a 1-year high of $20.71. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.92 billion and a P/E ratio of 4.24. The stock has a 50 day simple moving average of $18.50 and a 200 day simple moving average of $17.96.

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

Insiders Place Their Bets

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 17,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $19.18, for a total transaction of $335,650.00. Following the sale, the chief accounting officer now owns 20,824 shares of the company’s stock, valued at approximately $399,404.32. The trade was a 45.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

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.