Hamilton Insurance Group (NYSE:HG – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.20 by $0.36, Zacks reports. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The firm had revenue of $839.58 million for the quarter, compared to analysts’ expectations of $599.26 million.
Hamilton Insurance Group Stock Performance
Shares of NYSE HG traded up $0.29 during trading hours on Thursday, reaching $35.51. 408,254 shares of the stock were exchanged, compared to its average volume of 461,440. The stock’s fifty day simple moving average is $33.34 and its 200 day simple moving average is $31.28. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 5.81 and a beta of 0.33. Hamilton Insurance Group has a 52 week low of $22.08 and a 52 week high of $37.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65.
Analyst Ratings Changes
HG has been the subject of several analyst reports. Wall Street Zen upgraded Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Morgan Stanley upped their target price on Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Wells Fargo & Company increased their price target on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price target on Hamilton Insurance Group from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Finally, Zacks Research lowered Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.38.
Insiders Place Their Bets
In related news, Director David A. Brown sold 37,300 shares of the company’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 transaction, the director directly owned 450,000 shares in the company, valued at approximately $14,472,000. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total transaction of $185,955.75. Following the completion of the sale, the treasurer owned 39,629 shares of the company’s stock, valued at $1,213,043.69. This trade represents a 13.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 59,105 shares of company stock worth $1,882,568. Insiders own 3.02% of the company’s stock.
Institutional Investors Weigh In On Hamilton Insurance Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new stake in Hamilton Insurance Group during the fourth quarter worth approximately $25,000. Royal Bank of Canada grew its stake in 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. Strs Ohio bought a new position in Hamilton Insurance Group in the 1st quarter valued at about $112,000. Tower Research Capital LLC TRC lifted its holdings in shares of Hamilton Insurance Group by 24.1% during the 2nd 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 during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Hamilton Insurance Group during the 4th quarter worth approximately $157,000. 29.17% of the stock is currently owned by institutional investors and hedge funds.
Hamilton Insurance Group Company Profile
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.
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