The obvious choice of friends comes to mind, but that isn't entirely encompassing. You can hang out with your friends, your SO's, your siblings, your acquaintances, or just random strangers someone else invites. Also, "loved ones" doesn't really work either since this includes people like your parents and other relatives, but you don't really hang out with them.
Not really sure how to define hang out, but a base definition would be people you can relax with outside professional settings and talk about stuff like your favorite shows or people you're interested in.