Hamilton Insurance Group (NYSE:HG) Issues Earnings Results

Hamilton Insurance Group (NYSE:HG) released its quarterly earnings results on Tuesday. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.81, Zacks reports. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%.

Hamilton Insurance Group Price Performance

NYSE HG traded up $0.26 on Tuesday, hitting $23.50. The stock had a trading volume of 516,007 shares, compared to its average volume of 309,094. The firm has a 50-day moving average of $24.19 and a 200-day moving average of $22.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 7.55 and a beta of 0.81. Hamilton Insurance Group has a 52-week low of $16.80 and a 52-week high of $25.37.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HG shares. Keefe, Bruyette & Woods boosted their target price on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Wells Fargo & Company boosted their target price on Hamilton Insurance Group from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. JMP Securities boosted their target price on Hamilton Insurance Group from $29.00 to $31.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Insider Activity

In related news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $24.00, for a total transaction of $455,712.00. Following the transaction, the insider owned 64,512 shares of the company’s stock, valued at approximately $1,548,288. This trade represents a 22.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander James Baker sold 6,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total transaction of $142,740.00. Following the transaction, the insider directly owned 116,338 shares in the company, valued at approximately $2,767,681.02. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 71,988 shares of company stock worth $1,743,842. 17.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in Hamilton Insurance Group by 24.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company’s stock worth $123,000 after acquiring an additional 1,101 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Hamilton Insurance Group by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 26,579 shares of the company’s stock worth $575,000 after acquiring an additional 2,071 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Hamilton Insurance Group by 9.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock worth $510,000 after buying an additional 2,071 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Hamilton Insurance Group by 8.7% in the second quarter. Invesco Ltd. now owns 27,659 shares of the company’s stock worth $598,000 after buying an additional 2,217 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Hamilton Insurance Group in the first quarter worth approximately $112,000. 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.