Hamilton Insurance Group (NYSE:HG) Shares Gap Up After Earnings Beat

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $29.31, but opened at $31.07. Hamilton Insurance Group shares last traded at $29.37, with a volume of 81,422 shares changing hands.

The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a net margin of 15.95% and a return on equity of 15.07%. The business had revenue of $728.33 million during the quarter, compared to analyst estimates of $621.00 million.

Hamilton Insurance Group Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 6th will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, March 6th.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley set a $28.00 price target on Hamilton Insurance Group in a research report on Tuesday, December 16th. Wall Street Zen raised shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Wells Fargo & Company lifted their target price on Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Barclays reissued an “overweight” rating and set a $35.00 price objective on shares of Hamilton Insurance Group in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Hamilton Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $30.43.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Hamilton Insurance Group by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock worth $131,378,000 after buying an additional 737,084 shares during the last quarter. Nuveen LLC lifted its position in shares of Hamilton Insurance Group by 3.5% during the fourth quarter. Nuveen LLC now owns 2,220,738 shares of the company’s stock worth $61,959,000 after purchasing an additional 74,194 shares in the last quarter. American Century Companies Inc. increased its position in shares of Hamilton Insurance Group by 15.7% during the second quarter. American Century Companies Inc. now owns 2,214,591 shares of the company’s stock worth $47,879,000 after acquiring an additional 301,334 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of Hamilton Insurance Group by 71.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock valued at $43,325,000 after buying an additional 646,106 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Hamilton Insurance Group by 1.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,373,491 shares of the company’s stock valued at $34,063,000 after purchasing an additional 15,615 shares in the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Price Performance

The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 6.94 and a beta of 0.70. The company has a 50 day simple moving average of $28.09 and a 200-day simple moving average of $25.86. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.05.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.