Hamilton Insurance Group (NYSE:HG) Hits New 52-Week High - What's Next?

Key Points

• Hamilton Insurance Group hit a new 52-week high, trading as high as $34.71 amid heavier-than-average volume, and ended the session up about 2.2%.
• Recent analyst sentiment has been mostly positive, with multiple firms raising ratings or price targets; the stock now carries a Moderate Buy consensus and an average target price of $34.12.
• The company recently beat earnings expectations with $1.64 EPS versus the $1.08 estimate, though revenue came in below forecasts, while insiders have been selling shares in recent months.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $34.71 and last traded at $34.3880, with a volume of 529615 shares. The stock had previously closed at $34.44.

Analyst Upgrades and Downgrades

HG has been the subject of several recent research reports. UBS Group set a $33.00 price target on Hamilton Insurance Group in a report on Thursday, May 21st. Citizens Jmp boosted their price objective 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. Zacks Research upgraded Hamilton Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 11th. Wall Street Zen raised Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, Morgan Stanley set a $34.00 price target on Hamilton Insurance Group and gave the stock an "equal weight" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Hamilton Insurance Group presently has an average rating of "Moderate Buy" and a consensus target price of $34.12.

Hamilton Insurance Group Stock Up 2.2%

The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 5.65 and a beta of 0.35. The business has a 50-day moving average of $31.59 and a 200-day moving average of $29.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65.

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

Insider Activity

In related 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 value of $1,199,568.00. Following the completion of the sale, the director owned 450,000 shares in the company, valued at approximately $14,472,000. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian John Deegan sold 11,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total transaction of $337,590.00. Following the completion of the sale, the chief accounting officer owned 71,347 shares of the company's stock, valued at $2,189,639.43. This trade represents a 13.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 70,105 shares of company stock valued at $2,220,158. Company insiders own 3.02% of the company's stock.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of institutional investors have recently modified their holdings of HG. Cim LLC raised its holdings in shares of Hamilton Insurance Group by 78.9% in the 1st quarter. Cim LLC now owns 21,262 shares of the company's stock valued at $634,000 after buying an additional 9,374 shares during the period. California State Teachers Retirement System boosted its holdings in Hamilton Insurance Group by 38.0% during the 1st quarter. California State Teachers Retirement System now owns 59,732 shares of the company's stock valued at $1,782,000 after acquiring an additional 16,437 shares during the period. Empowered Funds LLC grew its position in Hamilton Insurance Group by 10.9% in the 1st quarter. Empowered Funds LLC now owns 456,436 shares of the company's stock valued at $13,615,000 after acquiring an additional 44,690 shares in the last quarter. Quantinno Capital Management LP grew its position in Hamilton Insurance Group by 30.9% in the 1st quarter. Quantinno Capital Management LP now owns 17,928 shares of the company's stock valued at $535,000 after acquiring an additional 4,232 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Hamilton Insurance Group by 9.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company's stock valued at $31,309,000 after acquiring an additional 90,655 shares in the last quarter. 29.17% of the stock is owned by institutional investors and hedge funds.

Hamilton Insurance Group Company Profile

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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