Hamilton Insurance Group (NYSE:HG) Hits New 52-Week High - Here's Why

Key Points

• Hamilton Insurance Group shares hit a new 52-week high of $33.00 (last $32.71) in mid-day trading, with roughly 76,175 shares changing hands.
• The company beat expectations this quarter, reporting EPS of $1.65 versus $0.69 expected and revenue of $728.3M, with a net margin of 19.85% and return on equity of 19.43%.
• Hamilton paid a $2.00 special dividend, trades at an attractive valuation (PE ratio 5.85, market cap ≈ $3.23B), and has seen analysts raise targets and institutions increase stakes, leaving a consensus rating of Moderate Buy.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $33.00 and last traded at $32.7130, with a volume of 76175 shares trading hands. The stock had previously closed at $32.67.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HG shares. Zacks Research downgraded shares of Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Wall Street Zen downgraded shares of Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Wells Fargo & Company upped their price target on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the company an "overweight" rating in a research note on Tuesday, January 13th. Citizens Jmp raised their price target on shares of Hamilton Insurance Group from $35.00 to $36.00 and gave the stock a "market outperform" rating in a report on Monday, April 13th. Finally, Citigroup boosted their price objective on shares of Hamilton Insurance Group from $28.50 to $33.00 and gave the company a "neutral" rating in a report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $32.71.

Hamilton Insurance Group Trading Down 0.2%

The stock has a 50-day moving average of $30.36 and a 200 day moving average of $28.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.23 billion, a PE ratio of 5.85 and a beta of 0.53.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.69 by $0.96. The business had revenue of $728.33 million during the quarter, compared to analysts' expectations of $621.00 million. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.43%. As a group, sell-side analysts anticipate that Hamilton Insurance Group, Ltd. will post 3.46 earnings per share for the current year.

Hamilton Insurance Group Announces Dividend

The firm also recently declared a special dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 6th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, March 6th.

Hedge Funds Weigh In On Hamilton Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of Hamilton Insurance Group by 16.2% during the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company's stock worth $131,378,000 after purchasing an additional 737,084 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Hamilton Insurance Group by 71.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company's stock worth $43,325,000 after buying an additional 646,106 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Hamilton Insurance Group in the fourth quarter valued at about $16,667,000. Millennium Management LLC lifted its stake in shares of Hamilton Insurance Group by 89.8% in the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company's stock worth $24,599,000 after buying an additional 417,261 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Hamilton Insurance Group by 101.9% during the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company's stock worth $17,490,000 after acquiring an additional 355,947 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company's stock.

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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