Hamilton Insurance Group (NYSE:HG) Sets New 12-Month High After Analyst Upgrade

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price reached a new 52-week high on Monday after Citizens Jmp raised their price target on the stock from $38.00 to $40.00. Citizens Jmp currently has a market outperform rating on the stock. Hamilton Insurance Group traded as high as $35.43 and last traded at $34.9550, with a volume of 64800 shares traded. The stock had previously closed at $34.60.

Several other research firms also recently issued reports on HG. UBS Group set a $33.00 target price on Hamilton Insurance Group in a research report on Thursday, May 21st. Morgan Stanley boosted their price target on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Weiss Ratings raised Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 12th. Wells Fargo & Company raised their price objective on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hamilton Insurance Group in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.38.

Insider Transactions at Hamilton Insurance Group

In other Hamilton Insurance Group news, Treasurer Jonathan B. Levenson sold 6,075 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the transaction, the treasurer directly owned 39,629 shares of the company’s stock, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Brown sold 37,300 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total value of $1,199,568.00. Following the completion of the sale, the director owned 450,000 shares in the company, valued at approximately $14,472,000. This represents a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 70,105 shares of company stock worth $2,220,158 over the last quarter. 3.02% of the stock is currently owned by insiders.

Institutional Trading of Hamilton Insurance Group

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Hamilton Insurance Group by 186.0% in the first quarter. AQR Capital Management LLC now owns 57,399 shares of the company’s stock valued at $1,190,000 after buying an additional 37,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Hamilton Insurance Group by 9.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock worth $510,000 after acquiring an additional 2,071 shares in the last quarter. Millennium Management LLC grew its position in shares of Hamilton Insurance Group by 9.7% during the 1st quarter. Millennium Management LLC now owns 442,820 shares of the company’s stock valued at $9,180,000 after acquiring an additional 39,020 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Hamilton Insurance Group by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock valued at $5,797,000 after purchasing an additional 20,926 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Hamilton Insurance Group by 87.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company’s stock valued at $1,777,000 after purchasing an additional 39,927 shares in the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Stock Up 1.2%

The company has a market cap of $3.48 billion, a price-to-earnings ratio of 5.74 and a beta of 0.35. The business has a fifty day moving average of $31.78 and a two-hundred day moving average of $30.21. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.08 by $0.56. The company had revenue of $758.91 million for the quarter, compared to analyst estimates of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. As a group, equities analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.12 EPS for the current fiscal year.

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.