Hamilton Insurance Group (NYSE:HG) Sets New 52-Week High – Here’s What Happened

Hamilton Insurance Group, Ltd. (NYSE:HG) shares reached a new 52-week high during trading on Tuesday. The stock traded as high as $38.39 and last traded at $38.38, with a volume of 207,501 shares. The stock had previously closed at $37.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. 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 research report on Tuesday, October 6th. Weiss Ratings raised Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a research note on Wednesday, October 21st. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Hamilton Insurance Group from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, November 4th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.62.

Hamilton Insurance Group Trading Up 0.7%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $3.83 billion, a PE ratio of 7.42 and a beta of 0.33. The stock’s 50-day simple moving average is $35.23 and its 200-day simple moving average is $32.72.

Hamilton Insurance Group (NYSE:HG) last posted its earnings results on Thursday, October 29th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $0.91 by $0.87. The firm had revenue of $828.04 million during the quarter, compared to analysts’ expectations of $693.46 million. Hamilton Insurance Group had a net margin of 16.83% and a return on equity of 23.76%. As a group, sell-side analysts expect that Hamilton Insurance Group, Ltd. will post 5.48 EPS for the current fiscal year.

Insider Transactions at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Timothy Duffin sold 28,500 shares of Hamilton Insurance Group 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 sale, the insider directly owned 223,459 shares of the company’s stock, valued at approximately $7,716,039.27. The trade was a 11.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Brown sold 50,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $36.12, for a total value of $1,806,000.00. Following the sale, the director directly owned 400,000 shares in the company, valued at approximately $14,448,000. The trade was a 11.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HG. Ieq Capital LLC grew its stake in Hamilton Insurance Group by 16.5% in the third quarter. Ieq Capital LLC now owns 82,264 shares of the company’s stock worth $2,718,000 after purchasing an additional 11,646 shares during the period. Boston Partners raised its holdings in Hamilton Insurance Group by 57.4% in the third quarter. Boston Partners now owns 981,183 shares of the company’s stock worth $32,550,000 after purchasing an additional 357,725 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Hamilton Insurance Group by 2.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 87,802 shares of the company’s stock valued at $2,901,000 after buying an additional 1,844 shares during the period. Ritholtz Wealth Management lifted its position in Hamilton Insurance Group by 9.2% during the third quarter. Ritholtz Wealth Management now owns 7,569 shares of the company’s stock valued at $250,000 after buying an additional 638 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its position in Hamilton Insurance Group by 0.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 91,511 shares of the company’s stock valued at $3,024,000 after buying an additional 430 shares during the period. Institutional investors own 29.17% of the company’s stock.

About Hamilton Insurance Group

Hamilton Insurance Group is a global specialty insurance and reinsurance company headquartered in Bermuda. Founded in 2013, it operates through businesses in Bermuda, the United States and the United Kingdom. The company underwrites a range of property, casualty and specialty risks, offering insurance and reinsurance products to businesses and other clients. Its operations include Hamilton Re in Bermuda, Hamilton Global Specialty in London and Hamilton Select in the United States. Pina Albo became Hamilton Insurance Group’s chief executive officer in 2023.