Hamilton Insurance Group, Ltd. (NYSE:HG) reported that Group Chief Accounting Officer, Brian John Deegan, sold a total of 22,000 Class B Common Shares, garnering over $367,000. The transactions, carried out on May 16, 2024, were executed at a weighted average price of $16.70 per share, with individual sales prices ranging from $16.65 to $16.75.
Following the sale, Deegan's remaining stake in the company includes 18,957 Class B Common Shares, which comprises both restricted stock units and common shares. Specifically, this total reflects 17,379 restricted stock units awarded on March 5, 2024, and 1,578 Class B common shares. It should be noted that this figure does not account for an additional 53,660 restricted stock units granted prior to 2024.
The recent filing with the Securities and Exchange Commission details these transactions and provides transparency into the trading activities of the company's insiders. Interested parties have the right to request more detailed information about the sales at varying price points within the range specified.
Hamilton Insurance Group, Ltd., a company specializing in fire, marine, and casualty insurance, is incorporated in Bermuda and conducts its operations globally. The business maintains its headquarters in Pembroke, Bermuda, where it is a key player in the insurance sector.
The sale by Deegan represents a significant transaction by a high-ranking executive within the company. Investors and analysts often monitor insider trading activities as they may provide insights into the executive's perspective on the company's current valuation and future prospects.
InvestingPro Insights
As Hamilton Insurance Group, Ltd. (NYSE:HG) navigates the global insurance market, recent data from InvestingPro provides a snapshot of the company's financial health and market performance. With a market capitalization of $1.87 billion and a striking P/E ratio of 4.76, the company stands out for its valuation metrics. This low earnings multiple suggests that Hamilton Insurance Group may be undervalued compared to its earnings potential, making it an attractive point of consideration for value investors.
The company's financial stability is further underscored by its ability to cover short-term obligations, as its liquid assets surpass these liabilities. This financial footing, combined with a robust revenue growth of 46.63% over the last twelve months as of Q1 2024, paints a picture of a company on a strong growth trajectory.
An InvestingPro Tip worth noting is that Hamilton Insurance Group is trading near its 52-week high, with the price at approximately 97% of this peak. This aligns with the strong return over the last month, marked by a 15.1% increase, reflecting positive investor sentiment and market momentum. Interested readers can find additional insights and tips, including the company's profitability forecast for the year, by exploring InvestingPro's full suite of analytics at: https://www.investing.com/pro/HG.
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