Short Interest in Hamilton Insurance Group, Ltd. (NYSE:HG) Expands By 5.6%

Hamilton Insurance Group, Ltd. (NYSE:HG) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 1,330,000 shares, a growth of 5.6% from the December 15th total of 1,260,000 shares. Based on an average daily volume of 413,400 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.4% of the shares of the stock are sold short.

Insider Buying and Selling

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $19.18, for a total value of $335,650.00. Following the transaction, the chief accounting officer now directly owns 20,824 shares of the company’s stock, valued at $399,404.32. This trade represents a 45.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of Hamilton Insurance Group by 198.2% in the third quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock valued at $71,859,000 after buying an additional 2,469,422 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Hamilton Insurance Group by 538.4% in 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. Jacobs Levy Equity Management Inc. purchased a new position in shares of Hamilton Insurance Group during the 3rd quarter worth $9,419,000. State Street Corp boosted its holdings in shares of Hamilton Insurance Group by 133.3% during the third quarter. State Street Corp now owns 532,632 shares of the company’s stock worth $10,301,000 after purchasing an additional 304,371 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Hamilton Insurance Group by 318.4% in the third quarter. BNP Paribas Financial Markets now owns 369,963 shares of the company’s stock valued at $7,155,000 after purchasing an additional 281,549 shares during the period. 29.17% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Insurance Group Stock Performance

HG stock remained flat at $19.39 during trading on Monday. 523,069 shares of the company were exchanged, compared to its average volume of 366,030. 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’s 50-day moving average is $18.81 and its 200 day moving average is $18.29. Hamilton Insurance Group has a 52-week low of $12.44 and a 52-week high of $20.71. The stock has a market cap of $1.97 billion, a P/E ratio of 4.34 and a beta of 1.03.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $512.84 million during the quarter, compared to analysts’ expectations of $515.96 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, equities research analysts forecast that Hamilton Insurance Group will post 4.1 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on HG shares. Barclays cut their target price on Hamilton Insurance Group from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company boosted their price objective on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Hamilton Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Hamilton Insurance Group Company Profile

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.