Hamilton Insurance Group (NYSE:HG) Reaches New 1-Year High – Here’s Why

Hamilton Insurance Group, Ltd. (NYSE:HG) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $21.64 and last traded at $21.58, with a volume of 39662 shares trading hands. The stock had previously closed at $21.34.

Analyst Upgrades and Downgrades

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

Hamilton Insurance Group Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The stock’s 50-day moving average price is $19.44 and its 200-day moving average price is $18.89. The company has a market cap of $2.19 billion, a P/E ratio of 4.83 and a beta of 0.92.

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

Insider Buying and Selling

In related news, CEO Adrian Joseph Daws sold 3,785 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $21.00, for a total transaction of $79,485.00. Following the completion of the sale, the chief executive officer now owns 199,923 shares of the company’s stock, valued at $4,198,383. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 15,000 shares of company stock valued at $311,566 over the last 90 days. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in 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 valued at $71,859,000 after purchasing an additional 2,469,422 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Hamilton Insurance Group by 538.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock valued at $16,677,000 after purchasing an additional 727,242 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Hamilton Insurance Group by 19.7% during the 4th quarter. Lazard Asset Management LLC now owns 811,166 shares of the company’s stock worth $15,435,000 after buying an additional 133,646 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Hamilton Insurance Group by 31.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 642,260 shares of the company’s stock worth $12,222,000 after buying an additional 155,228 shares during the last quarter. Finally, Private Management Group Inc. bought a new position in Hamilton Insurance Group in the fourth quarter valued at about $10,511,000. 29.17% of the stock is currently owned by institutional investors and hedge funds.

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.