Hamilton Insurance Group (NYSE:HG) Issues Earnings Results, Beats Expectations By $0.88 EPS

Hamilton Insurance Group (NYSE:HG – Get Free Report) posted its earnings results on Thursday. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.88, FiscalAI reports. Hamilton Insurance Group had a return on equity of 22.60% and a net margin of 19.56%. The company had revenue of $828.04 million for the quarter, compared to analyst estimates of $693.46 million.

Hamilton Insurance Group Price Performance

Shares of NYSE HG traded up $0.54 during mid-day trading on Friday, reaching $34.97. The company had a trading volume of 239,632 shares, compared to its average volume of 473,377. The business’s 50-day simple moving average is $34.87 and its 200 day simple moving average is $32.25. Hamilton Insurance Group has a one year low of $22.66 and a one year high of $37.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 6.08 and a beta of 0.36.

Insider Buying and Selling

In other news, Director David Brown sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total value of $1,806,000.00. Following the completion of the sale, the director directly owned 400,000 shares of the company’s stock, valued at $14,448,000. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy Duffin sold 28,500 shares of Hamilton Insurance Group stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $34.53, for a total transaction of $984,105.00. Following the completion of the sale, the insider directly owned 223,459 shares in the company, valued at approximately $7,716,039.27. This represents a 11.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HG shares. Weiss Ratings raised shares of Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a research note on Wednesday, October 21st. Barclays upped their target price 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. Citigroup reiterated a “neutral” rating on shares of Hamilton Insurance Group in a research report on Wednesday, August 12th. Morgan Stanley dropped their target price on Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Finally, Wells Fargo & Company cut their target price on Hamilton Insurance Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Get Our Latest Research Report on HG

About Hamilton Insurance Group

(Get Free Report)

Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.

Further Reading

Earnings History for Hamilton Insurance Group (NYSE:HG)

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