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 $33.94, continuing a recent rally as the stock traded near its prior close and saw modest volume.
• Analyst sentiment is broadly positive, with multiple firms issuing Buy or Outperform ratings and a consensus Moderate Buy alongside an average price target of $34.00.
• The company posted strong quarterly profit results, beating EPS expectations, while institutional investors have been increasing their holdings even as some insiders have sold shares.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $33.94 and last traded at $33.5750, with a volume of 28696 shares changing hands. The stock had previously closed at $33.55.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HG shares. UBS Group set a $33.00 price objective on Hamilton Insurance Group in a report on Thursday, May 21st. Zacks Research upgraded shares of Hamilton Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 11th. Citizens Jmp increased their price target on Hamilton Insurance Group from $36.00 to $38.00 and gave the stock a "market outperform" rating in a research note on Friday, May 1st. Citigroup reiterated an "outperform" rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Hamilton Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Hamilton Insurance Group Stock Performance

The firm has a market capitalization of $3.36 billion, a PE ratio of 5.54 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $31.40 and a 200 day moving average of $29.75.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The firm had revenue of $758.91 million for the quarter, compared to analysts' expectations of $933.90 million. Equities research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, Director David A. Brown sold 37,300 shares of Hamilton Insurance Group stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the completion of the sale, the director directly owned 450,000 shares in the company, valued at $14,472,000. The trade was a 7.65% 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, Treasurer Jonathan B. Levenson sold 6,075 shares of the stock in a transaction on 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 transaction, the treasurer directly owned 39,629 shares in the company, valued at $1,213,043.69. The trade was a 13.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 70,105 shares of company stock worth $2,220,158 over the last three months. 3.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of Hamilton Insurance Group by 186.0% in the 1st quarter. AQR Capital Management LLC now owns 57,399 shares of the company's stock valued at $1,190,000 after purchasing an additional 37,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Hamilton Insurance Group by 9.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company's stock worth $510,000 after purchasing an additional 2,071 shares during the period. Millennium Management LLC lifted its stake in Hamilton Insurance Group by 9.7% in the first quarter. Millennium Management LLC now owns 442,820 shares of the company's stock worth $9,180,000 after purchasing an additional 39,020 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Hamilton Insurance Group by 8.1% during the first quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company's stock valued at $5,797,000 after buying an additional 20,926 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Hamilton Insurance Group by 87.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company's stock valued at $1,777,000 after buying an additional 39,927 shares during the period. 29.17% of the stock is currently owned by institutional investors.

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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