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

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price hit a new 52-week high during trading on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $40.00 to $42.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Hamilton Insurance Group traded as high as $37.39 and last traded at $37.3850, with a volume of 164,087 shares trading hands. The stock had previously closed at $36.47.

Several other analysts also recently weighed in on the company. Wells Fargo & Company boosted their price objective on Hamilton Insurance Group from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup reissued a “neutral” rating on shares of Hamilton Insurance Group in a research note on Wednesday, August 12th. Morgan Stanley reduced their price target on Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Citizens Jmp upped their price target on Hamilton Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Finally, Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.62.

Insider Transactions at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Timothy Duffin sold 28,500 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $34.53, for a total transaction of $984,105.00. Following the transaction, the insider owned 223,459 shares in the company, valued at approximately $7,716,039.27. This represents a 11.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Brown sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total value of $1,806,000.00. Following the transaction, the director owned 400,000 shares in the company, valued at $14,448,000. This trade represents a 11.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in Hamilton Insurance Group by 39.4% during the second quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company’s stock valued at $196,094,000 after buying an additional 1,633,397 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Hamilton Insurance Group by 10.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company’s stock worth $44,659,000 after acquiring an additional 140,474 shares during the period. Dimensional Fund Advisors LP grew its holdings in Hamilton Insurance Group by 32.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company’s stock valued at $40,312,000 after buying an additional 332,405 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Hamilton Insurance Group by 9.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company’s stock valued at $31,309,000 after acquiring an additional 90,655 shares during the last quarter. Finally, Donald Smith & CO. Inc. bought a new position in shares of Hamilton Insurance Group during the 2nd quarter valued at approximately $29,884,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Trading Up 2.5%

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50-day moving average of $34.93 and a 200 day moving average of $32.39. The company has a market cap of $3.69 billion, a PE ratio of 7.15 and a beta of 0.33.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Thursday, October 29th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.87. Hamilton Insurance Group had a net margin of 16.83% and a return on equity of 24.05%. The business had revenue of $828.04 million for the quarter, compared to the consensus estimate of $693.46 million. Analysts predict that Hamilton Insurance Group, Ltd. will post 4.90 earnings per share for the current year.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.