Hamilton Insurance Group (NYSE:HG) Trading Up 6.8% – Here’s Why

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price rose 6.8% during trading on Thursday . The stock traded as high as $19.71 and last traded at $19.66. Approximately 191,985 shares were traded during trading, a decline of 53% from the average daily volume of 405,680 shares. The stock had previously closed at $18.41.

Wall Street Analyst Weigh In

HG has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Hamilton Insurance Group from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays set a $25.00 price objective on shares of Hamilton Insurance Group and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.80.

Hamilton Insurance Group Price Performance

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.98 billion, a PE ratio of 4.38 and a beta of 1.02. The firm’s fifty day simple moving average is $18.88 and its 200-day simple moving average is $18.75.

Hamilton Insurance Group (NYSE:HG) last issued its earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.44). The firm had revenue of $543.94 million during the quarter, compared to analysts’ expectations of $460.17 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. On average, research analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Hamilton Insurance Group by 198.2% during 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 during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Hamilton Insurance Group by 538.4% during the third quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock valued at $16,677,000 after purchasing an additional 727,242 shares during the last quarter. Private Management Group Inc. purchased a new position in shares of Hamilton Insurance Group during the fourth quarter valued at approximately $10,511,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Hamilton Insurance Group during the third quarter valued at approximately $9,419,000. Finally, State Street Corp raised its holdings in shares of Hamilton Insurance Group by 133.3% during the third quarter. State Street Corp now owns 532,632 shares of the company’s stock valued at $10,301,000 after purchasing an additional 304,371 shares during the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

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.