Hamilton Insurance Group (NYSE:HG) Hits New 12-Month High Following Analyst Upgrade

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price hit a new 52-week high during mid-day trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $28.00 to $30.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Hamilton Insurance Group traded as high as $26.99 and last traded at $26.98, with a volume of 453994 shares changing hands. The stock had previously closed at $25.74.

A number of other equities research analysts have also commented on the stock. Zacks Research raised shares of Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Wells Fargo & Company raised their target price on Hamilton Insurance Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Citizens Jmp raised their price target on Hamilton Insurance Group from $31.00 to $32.00 and gave the company a “market outperform” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Wednesday, October 8th. Finally, Barclays boosted their price objective on shares of Hamilton Insurance Group from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.63.

Insider Buying and Selling at Hamilton Insurance Group

In related news, CEO Alexander James Baker sold 18,350 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $26.19, for a total value of $480,586.50. Following the transaction, the chief executive officer directly owned 84,136 shares of the company’s stock, valued at approximately $2,203,521.84. The trade was a 17.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith Donald Bernhard sold 47,000 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $24.37, for a total value of $1,145,390.00. Following the completion of the sale, the insider owned 53,893 shares in the company, valued at $1,313,372.41. This represents a 46.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. CWM LLC raised its holdings in shares of Hamilton Insurance Group by 172.6% in the first quarter. CWM LLC now owns 1,698 shares of the company’s stock worth $35,000 after buying an additional 1,075 shares during the last quarter. Versant Capital Management Inc boosted its position in Hamilton Insurance Group by 1,404.4% in the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock valued at $42,000 after buying an additional 1,587 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in Hamilton Insurance Group in the 1st quarter worth approximately $62,000. State of Alaska Department of Revenue acquired a new stake in shares of Hamilton Insurance Group in the third quarter worth $71,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Hamilton Insurance Group by 14.6% during the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock worth $99,000 after purchasing an additional 585 shares during the last quarter. Institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Stock Up 5.4%

The business’s 50-day moving average is $24.66 and its 200-day moving average is $22.80. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 6.46 and a beta of 0.81. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.05.

Hamilton Insurance Group (NYSE:HG) last posted its earnings results on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.61. The firm had revenue of $698.85 million for the quarter, compared to analysts’ expectations of $537.70 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%. As a group, equities analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current year.

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.