Hamilton Insurance Group (NYSE:HG) Sets New 52-Week High – Here’s Why

Hamilton Insurance Group, Ltd. (NYSE:HG) reached a new 52-week high on Monday . The stock traded as high as $35.62 and last traded at $35.2490, with a volume of 60588 shares trading hands. The stock had previously closed at $34.94.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HG. UBS Group set a $33.00 price target on Hamilton Insurance Group in a research report on Thursday, May 21st. Citizens Jmp increased their price objective on Hamilton Insurance Group from $38.00 to $40.00 and gave the company a “market outperform” rating in a research note on Friday, July 10th. Wells Fargo & Company boosted their target price on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods upped their target price on shares of Hamilton Insurance Group from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hamilton Insurance Group in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Hamilton Insurance Group Stock Performance

The firm has a market capitalization of $3.49 billion, a PE ratio of 5.77 and a beta of 0.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The company’s fifty day moving average price is $32.14 and its two-hundred day moving average price is $30.43.

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

Insider Transactions at Hamilton Insurance Group

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 11,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total transaction of $337,590.00. Following the transaction, the chief accounting officer directly owned 71,347 shares of the company’s stock, valued at $2,189,639.43. The trade was a 13.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total transaction of $185,955.75. Following the completion of the sale, the treasurer directly owned 39,629 shares of the company’s stock, valued at $1,213,043.69. The trade was a 13.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 70,105 shares of company stock worth $2,220,158 in the last three months. 3.02% of the stock is currently owned by company insiders.

Institutional Trading of Hamilton Insurance Group

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

About Hamilton Insurance Group

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.