Hamilton Insurance Group (NYSE:HG) Hits New 52-Week High - Still a Buy?

Key Points

• Hamilton Insurance Group's shares reached a new 12-month high of $24.75, marking a significant increase as it traded volumes of 349,359 shares.
• Research analysts have issued varied price targets on the stock, with Wells Fargo raising its target from $24.00 to $26.00 and a consensus target of $25.43 established.
• The company reported a EPS of $1.55 for the last quarter, outperforming expectations by $0.54, alongside a revenue of $712.03 million against forecasts of $519.50 million.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $24.71 and last traded at $24.75, with a volume of 349359 shares traded. The stock had previously closed at $24.43.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HG shares. Barclays boosted their price objective on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Citigroup started coverage on Hamilton Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $25.00 price objective for the company. Zacks Research raised Hamilton Insurance Group to a "hold" rating in a report on Tuesday, August 12th. Keefe, Bruyette & Woods boosted their price objective on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Finally, Wells Fargo & Company boosted their price objective on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $25.43.

Hamilton Insurance Group Stock Down 0.2%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $2.44 billion, a PE ratio of 6.74 and a beta of 0.82. The company has a 50 day moving average price of $22.88 and a 200-day moving average price of $21.21.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%.The firm had revenue of $712.03 million for the quarter, compared to analysts' expectations of $519.50 million. As a group, analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $24.00, for a total transaction of $455,712.00. Following the transaction, the insider directly owned 64,512 shares of the company's stock, valued at approximately $1,548,288. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Keith Donald Bernhard sold 47,000 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $24.37, for a total value of $1,145,390.00. Following the completion of the sale, the insider directly owned 53,893 shares in the company, valued at approximately $1,313,372.41. The trade was a 46.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,988 shares of company stock valued at $1,743,842. Company insiders own 17.46% of the company's stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its holdings in Hamilton Insurance Group by 92.2% in the first quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after purchasing an additional 685 shares in the last quarter. CWM LLC raised its stake in shares of Hamilton Insurance Group by 172.6% in the first quarter. CWM LLC now owns 1,698 shares of the company's stock worth $35,000 after buying an additional 1,075 shares during the period. Flaharty Asset Management LLC bought a new position in shares of Hamilton Insurance Group in the first quarter worth about $62,000. Ameritas Investment Partners Inc. raised its stake in shares of Hamilton Insurance Group by 14.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock worth $99,000 after buying an additional 585 shares during the period. Finally, Strs Ohio bought a new position in shares of Hamilton Insurance Group in the first quarter worth about $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.