Hamilton Announces Share Repurchase from Funds Affiliated with Blackstone
Hamilton Insurance Group, Ltd. (HG)
Company Research
Source: Business Wire
PEMBROKE, Bermuda--(BUSINESS WIRE)--Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) announced today that it has entered into an agreement to repurchase 9,124,729 Class A common shares owned by funds affiliated with Blackstone Alternative Solutions LLC (“BAS”) at $12.00 per share, representing a 12.0% discount to the 30-day volume weighted average price of the Company’s Class B common shares. The total purchase price for those shares is $109,496,748. The total purchase price will be funded by a loan under the Company’s revolving credit facility which the Company intends to repay with funds withdrawn from the Two Sigma Hamilton Fund. The Company expects to close the repurchase transaction on May 10, 2024 subject to customary closing conditions. The common shares purchased by Hamilton will be cancelled and the Company will have 101,878,284 shares outstanding following the repurchase transaction.This press release features multimedia. View the full release here
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News
- Hamilton Insurance Group, Ltd. (NYSE: HG) had its "outperform" rating re-affirmed by analysts at Keefe, Bruyette & Woods. They now have a $21.00 price target on the stock, up previously from $20.00.MarketBeat
- Hamilton Insurance Group, Ltd. (NYSE: HG) was upgraded by analysts at Keefe, Bruyette & Woods to a "moderate buy" rating.MarketBeat
- Hamilton Appoints Wilfred Chin as Group Chief ActuaryBusiness Wire
- Hamilton Insurance Group, Ltd. (NYSE: HG) had its price target raised by analysts at Wells Fargo & Company from $16.00 to $19.00. They now have an "overweight" rating on the stock.MarketBeat
- Hamilton Insurance Group, Ltd. (NYSE: HG) had its price target raised by analysts at JMP Securities from $22.00 to $23.00. They now have a "market outperform" rating on the stock.MarketBeat
HG
Earnings
- 5/8/24 - Beat