Hamilton Insurance Group (NYSE:HG) Posts Earnings Results, Beats Expectations By $0.44 EPS

Key Points

• EPS beat: Hamilton reported Q earnings of $1.64 per share, beating the $1.20 consensus by $0.44, although revenue of $758.9M missed estimates of $933.9M; the company posted a net margin of 19.85% and ROE of 19.43%.
• $2.00 special dividend: Hamilton paid a special dividend of $2.00 per share to holders of record on March 6, which was paid on March 30.
• Shares rose to $32.81 after the report; the stock trades at a P/E of 6.4 with a $3.25B market cap, and analysts have lifted targets leaving an average consensus rating of "Moderate Buy" and an average target of $32.71.

Hamilton Insurance Group (NYSE:HG - Get Free Report) released its quarterly earnings results on Thursday. The company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.44, FiscalAI reports. The company had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.43%.

Hamilton Insurance Group Price Performance

Shares of NYSE HG traded up $0.86 during midday trading on Thursday, reaching $32.81. 483,671 shares of the company were exchanged, compared to its average volume of 384,133. The stock's 50-day moving average price is $30.51 and its 200-day moving average price is $28.17. The stock has a market cap of $3.25 billion, a P/E ratio of 6.40 and a beta of 0.53. Hamilton Insurance Group has a one year low of $18.14 and a one year high of $33.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05.

Hamilton Insurance Group Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on HG. Citigroup lifted their price objective on shares of Hamilton Insurance Group from $28.50 to $33.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Hamilton Insurance Group from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Monday, February 23rd. Citizens Jmp lifted their price objective on shares of Hamilton Insurance Group from $35.00 to $36.00 and gave the company a "market outperform" rating in a research note on Monday, April 13th. Barclays lifted their price objective on shares of Hamilton Insurance Group from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Hamilton Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $32.71.

Institutional Trading of Hamilton Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new stake in shares of Hamilton Insurance Group during the fourth quarter worth $25,000. Royal Bank of Canada grew its stake in shares of Hamilton Insurance Group by 15.8% during the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company's stock worth $84,000 after buying an additional 410 shares during the last quarter. Strs Ohio bought a new stake in shares of Hamilton Insurance Group during the first quarter worth $112,000. Los Angeles Capital Management LLC bought a new stake in shares of Hamilton Insurance Group during the fourth quarter worth $157,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Hamilton Insurance Group by 24.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company's stock worth $123,000 after buying an additional 1,101 shares during the last quarter. 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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