Hamilton Insurance Group (NYSE:HG) Announces Earnings Results

Key Points

• Hamilton Insurance Group exceeded quarterly expectations: The company reported EPS of $1.56 versus the $1.20 consensus estimate, while revenue reached $839.58 million compared with expectations of $599.26 million. Net margin was 21.73% and return on equity was 23.19%.
• Shares rose 0.8% to $35.51 during Thursday trading, near the company’s 12-month high of $37.31. The stock has a $3.52 billion market capitalization and a consensus analyst rating of “Moderate Buy,” with a target price of $35.38.
• Analyst sentiment remains broadly positive, although Zacks Research downgraded the stock to “hold.” Several other firms raised their price targets to between $39 and $40, while insiders sold 59,105 shares worth approximately $1.88 million during the past quarter.

Hamilton Insurance Group (NYSE:HG - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 Trading Up 0.8%

Shares of Hamilton Insurance Group stock traded up $0.29 during trading hours on Thursday, hitting $35.51. The company's stock had a trading volume of 408,254 shares, compared to its average volume of 461,440. The company has a market capitalization of $3.52 billion, a PE ratio of 5.81 and a beta of 0.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50 day moving average of $33.34 and a 200 day moving average of $31.28. Hamilton Insurance Group has a 12 month low of $22.08 and a 12 month high of $37.31.

Insider Activity

In related news, Director David A. Brown sold 37,300 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total value of $1,199,568.00. Following the completion of the transaction, the director directly owned 450,000 shares in the company, valued at approximately $14,472,000. The trade was a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total value of $185,955.75. Following the sale, the treasurer directly owned 39,629 shares of the company's stock, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 59,105 shares of company stock worth $1,882,568 in the last quarter. 3.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Several large investors have recently made changes to their positions in HG. Squarepoint Ops LLC bought a new stake in Hamilton Insurance Group in the 4th quarter valued at approximately $268,000. Aigen Investment Management LP bought a new position in shares of Hamilton Insurance Group during the 4th quarter worth approximately $290,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Hamilton Insurance Group during the 3rd quarter worth approximately $245,000. Nomura Holdings Inc. acquired a new stake in shares of Hamilton Insurance Group in the second quarter valued at approximately $327,000. Finally, Corient Private Wealth LLC acquired a new stake in shares of Hamilton Insurance Group in the second quarter valued at approximately $230,000. Institutional investors own 29.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zacks Research downgraded Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods upped their price objective on Hamilton Insurance Group from $34.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Citizens Jmp increased their target price on Hamilton Insurance Group from $38.00 to $40.00 and gave the company a "market outperform" rating in a research note on Friday, July 10th. Wells Fargo & Company boosted their target price on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Hamilton Insurance Group in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Hamilton Insurance Group has a consensus rating of "Moderate Buy" and a consensus target price of $35.38.

About Hamilton Insurance Group

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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