Hamilton Insurance Group (NYSE:HG) Sets New 1-Year High – Still a Buy?

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $33.94 and last traded at $33.5750, with a volume of 28696 shares traded. The stock had previously closed at $33.55.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citizens Jmp upped their price target on Hamilton Insurance Group from $36.00 to $38.00 and gave the company a “market outperform” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Citigroup reaffirmed an “outperform” rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. Weiss Ratings upgraded Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 12th. Finally, Morgan Stanley increased their target price on shares of Hamilton Insurance Group from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Hamilton Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Hamilton Insurance Group Stock Performance

The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $31.48 and a 200-day simple moving average of $29.85. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 5.56 and a beta of 0.44.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.08 by $0.56. The company had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. As a group, equities research analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Brian John Deegan sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total transaction of $337,590.00. Following the transaction, the chief accounting officer directly owned 71,347 shares of the company’s stock, valued at approximately $2,189,639.43. This represents a 13.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the transaction, the treasurer owned 39,629 shares in the company, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Large investors have recently modified their holdings of the company. AQR Capital Management LLC grew its position in Hamilton Insurance Group by 186.0% in the 1st quarter. AQR Capital Management LLC now owns 57,399 shares of the company’s stock valued at $1,190,000 after purchasing an additional 37,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Hamilton Insurance Group by 9.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock valued at $510,000 after buying an additional 2,071 shares during the last quarter. Millennium Management LLC increased its position in shares of Hamilton Insurance Group by 9.7% during the first quarter. Millennium Management LLC now owns 442,820 shares of the company’s stock worth $9,180,000 after acquiring an additional 39,020 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Hamilton Insurance Group by 8.1% during the first quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock worth $5,797,000 after acquiring an additional 20,926 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Hamilton Insurance Group by 87.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company’s stock worth $1,777,000 after acquiring an additional 39,927 shares during the last quarter. 29.17% of the stock is currently owned by institutional investors.

About Hamilton Insurance Group

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.