Hamilton Insurance Group (NYSE:HG) Shares Down 3.9% – Here’s What Happened

Hamilton Insurance Group, Ltd. (NYSE:HGGet Free Report) traded down 3.9% during mid-day trading on Wednesday . The stock traded as low as $33.68 and last traded at $33.4940. Approximately 21,105 shares traded hands during trading, a decline of 96% from the average daily volume of 519,943 shares. The stock had previously closed at $34.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Citizens Jmp increased their target price on Hamilton Insurance Group from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Friday, July 10th. Wells Fargo & Company raised their price target on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Zacks Research downgraded Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Barclays lifted their price target on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.38.

Read Our Latest Report on HG

Hamilton Insurance Group Stock Up 2.1%

The firm’s fifty day simple moving average is $32.06 and its 200-day simple moving average is $30.38. The company has a market cap of $3.41 billion, a PE ratio of 5.63 and a beta of 0.35. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 11,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer owned 71,347 shares of the company’s stock, valued at approximately $2,189,639.43. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the sale, the treasurer owned 39,629 shares in the company, valued at $1,213,043.69. This represents a 13.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Hamilton Insurance Group by 15.8% during the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock worth $84,000 after buying an additional 410 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Hamilton Insurance Group by 20.0% during the first quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock valued at $131,000 after buying an additional 735 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Hamilton Insurance Group during the fourth quarter valued at approximately $25,000. CWM LLC boosted its position in Hamilton Insurance Group by 4.2% during the fourth quarter. CWM LLC now owns 22,594 shares of the company’s stock worth $630,000 after acquiring an additional 919 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Hamilton Insurance Group by 112.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after acquiring an additional 937 shares during the last quarter. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

About Hamilton Insurance Group

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Hamilton Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hamilton Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.