Hamilton Insurance Group, Ltd.’s (NYSE:HG) Lock-Up Period Set To Expire on May 8th

Hamilton Insurance Group’s (NYSE:HG) lock-up period will expire on Wednesday, May 8th. Hamilton Insurance Group had issued 15,000,000 shares in its public offering on November 10th. The total size of the offering was $225,000,000 based on an initial share price of $15.00. After the end of Hamilton Insurance Group’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HG. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 target price on shares of Hamilton Insurance Group in a research note on Monday, April 15th. Morgan Stanley cut their price objective on Hamilton Insurance Group from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, Wells Fargo & Company raised Hamilton Insurance Group from an “equal weight” rating to an “overweight” rating and set a $16.00 target price for the company in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Hamilton Insurance Group has an average rating of “Buy” and an average price target of $19.00.

Hamilton Insurance Group Price Performance

Shares of NYSE HG opened at $14.09 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79. Hamilton Insurance Group has a 1 year low of $12.44 and a 1 year high of $16.35. The company’s 50-day simple moving average is $13.68.

Hamilton Insurance Group (NYSE:HG) last released its earnings results on Wednesday, March 6th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.58. The business had revenue of $495.16 million for the quarter, compared to analysts’ expectations of $412.55 million. On average, equities analysts forecast that Hamilton Insurance Group will post 3.08 EPS for the current year.

Hedge Funds Weigh In On Hamilton Insurance Group

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in Hamilton Insurance Group during the 4th quarter valued at $477,000. Teacher Retirement System of Texas bought a new stake in Hamilton Insurance Group in the 4th quarter worth about $1,495,000. Seven Grand Managers LLC purchased a new position in Hamilton Insurance Group in the 4th quarter worth about $1,121,000. Oxford Asset Management LLP bought a new position in Hamilton Insurance Group during the 4th quarter valued at about $199,000. Finally, Weiss Asset Management LP bought a new position in Hamilton Insurance Group during the 4th quarter valued at about $748,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.

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.