Hamilton Insurance Group (NYSE:HG) Hits New 52-Week High – Time to Buy?

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $35.62 and last traded at $35.2490, with a volume of 60588 shares trading hands. The stock had previously closed at $34.94.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citizens Jmp raised their price target on Hamilton Insurance Group from $38.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday, July 10th. Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research note on Friday, July 10th. Wells Fargo & Company increased their target price on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wall Street Zen upgraded Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, UBS Group set a $33.00 target price on Hamilton Insurance Group in a research note on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Hamilton Insurance Group Price Performance

The business has a 50-day simple moving average of $32.30 and a two-hundred day simple moving average of $30.53. 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 stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 5.69 and a beta of 0.35.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The company had revenue of $758.91 million for the quarter, compared to analysts’ expectations of $933.90 million. As a group, research analysts predict that Hamilton Insurance Group, Ltd. will post 4.12 earnings per share for the current fiscal year.

Insider Activity at Hamilton Insurance Group

In other Hamilton Insurance Group news, Director David A. Brown sold 37,300 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.16, for a total value of $1,199,568.00. Following the sale, the director directly owned 450,000 shares in the company, valued at approximately $14,472,000. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $185,955.75. Following the completion of the sale, the treasurer directly owned 39,629 shares of the company’s stock, valued at $1,213,043.69. The trade was a 13.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 70,105 shares of company stock valued at $2,220,158 over the last 90 days. 3.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Hamilton Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its position in Hamilton Insurance Group by 15.8% during the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock worth $84,000 after purchasing an additional 410 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Hamilton Insurance Group by 20.0% in the first quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock valued at $131,000 after purchasing an additional 735 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Hamilton Insurance Group in the fourth quarter valued at $25,000. CWM LLC boosted its position in shares of Hamilton Insurance Group by 4.2% in the fourth quarter. CWM LLC now owns 22,594 shares of the company’s stock worth $630,000 after buying an additional 919 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after buying an additional 937 shares during the period. 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.