Hamilton Insurance Group (NYSE:HG) Sets New 1-Year High – What’s Next?

Hamilton Insurance Group, Ltd. (NYSE:HG)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $21.05 and last traded at $21.02, with a volume of 421540 shares traded. The stock had previously closed at $20.72.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HG shares. JMP Securities set a $27.00 target price on shares of Hamilton Insurance Group in a report on Friday, February 28th. Barclays set a $25.00 price objective on shares of Hamilton Insurance Group and gave the company an “overweight” rating in a research report on Thursday, February 27th. Wells Fargo & Company raised their price objective on Hamilton Insurance Group from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.80.

Hamilton Insurance Group Trading Down 1.9 %

The company has a fifty day moving average price of $19.34 and a 200-day moving average price of $18.87. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 4.65 and a beta of 0.92.

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

Insider Activity at Hamilton Insurance Group

In other news, CEO Adrian Joseph Daws sold 11,076 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $20.69, for a total transaction of $229,162.44. Following the completion of the sale, the chief executive officer now owns 203,847 shares in the company, valued at $4,217,594.43. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds have recently added to or reduced their stakes in HG. Wellington Management Group LLP raised its position 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 worth $71,859,000 after purchasing an additional 2,469,422 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Hamilton Insurance Group by 538.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock worth $16,677,000 after acquiring an additional 727,242 shares during the period. Private Management Group Inc. acquired a new stake in Hamilton Insurance Group during the 4th quarter worth approximately $10,511,000. Jacobs Levy Equity Management Inc. acquired a new position in Hamilton Insurance Group in the 3rd quarter valued at $9,419,000. Finally, State Street Corp raised its holdings in Hamilton Insurance Group by 133.3% in the 3rd quarter. State Street Corp now owns 532,632 shares of the company’s stock valued at $10,301,000 after acquiring an additional 304,371 shares in the last quarter. Institutional investors own 29.17% of the company’s stock.

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.