Hamilton Insurance Group (NYSE:HG) Releases Earnings Results

Hamilton Insurance Group (NYSE:HG) posted its earnings results on Thursday. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.44, FiscalAI reports. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.43%. The firm had revenue of $758.91 million for the quarter, compared to analysts’ expectations of $933.90 million.

Hamilton Insurance Group Trading Up 2.7%

HG stock traded up $0.86 during midday trading on Thursday, hitting $32.81. The stock had a trading volume of 483,671 shares, compared to its average volume of 384,133. The firm has a market cap of $3.25 billion, a P/E ratio of 6.40 and a beta of 0.53. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group has a 1-year low of $18.14 and a 1-year high of $33.00. The business has a fifty day moving average price of $30.51 and a two-hundred day moving average price of $28.17.

Hamilton Insurance Group Announces Dividend

The company also recently announced a special dividend, which was paid on Monday, March 30th. Investors of record on Friday, March 6th were issued a $2.00 dividend. The ex-dividend date was Friday, March 6th.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of HG. Wellington Management Group LLP lifted its holdings in Hamilton Insurance Group by 16.2% in the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after buying an additional 737,084 shares during the period. Freestone Grove Partners LP acquired a new position in Hamilton Insurance Group in the fourth quarter valued at $16,667,000. Millennium Management LLC lifted its holdings in Hamilton Insurance Group by 89.8% in the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock valued at $24,599,000 after buying an additional 417,261 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Hamilton Insurance Group by 101.9% in the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock valued at $17,490,000 after buying an additional 355,947 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Hamilton Insurance Group by 44.9% in the fourth quarter. Federated Hermes Inc. now owns 852,047 shares of the company’s stock valued at $23,772,000 after buying an additional 264,096 shares during the period. Institutional investors and hedge funds own 29.17% of the company’s stock.

Wall Street Analyst Weigh In

HG has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Wells Fargo & Company boosted their price objective on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Wall Street Zen cut shares of Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Citigroup boosted their price objective on shares of Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.71.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.