Hamilton Insurance Group (NYSE:HG) Reaches New 1-Year High - Here's What Happened

Key Points

• Hamilton Insurance Group hit a new 52-week high, trading as high as $35.62 after closing at $34.94 the previous day.
• Analyst sentiment has improved, with recent upgrades and target hikes helping to support the stock; the consensus rating is now Moderate Buy with a target price of $35.38.
• The company also showed solid underlying fundamentals, including a recent earnings beat of $1.64 EPS versus $1.08 expected, though revenue came in below estimates.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $35.62 and last traded at $35.2490, with a volume of 60588 shares traded. The stock had previously closed at $34.94.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HG shares. Keefe, Bruyette & Woods upped their price target on Hamilton Insurance Group from $34.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Wall Street Zen raised Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Morgan Stanley raised their price target on Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. UBS Group set a $33.00 price target on Hamilton Insurance Group in a research note on Thursday, May 21st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Hamilton Insurance Group in a research report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.38.

Hamilton Insurance Group Stock Performance

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average is $32.14 and its 200 day moving average is $30.43. The company has a market cap of $3.49 billion, a PE ratio of 5.77 and a beta of 0.35.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.56. The business had revenue of $758.91 million for the quarter, compared to the consensus estimate of $933.90 million. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. As a group, research analysts predict that Hamilton Insurance Group, Ltd. will post 4.12 EPS for the current fiscal year.

Insider Activity at Hamilton Insurance Group

In related news, Treasurer Jonathan B. Levenson sold 6,075 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $185,955.75. Following the completion of the sale, the treasurer directly owned 39,629 shares in the company, valued at approximately $1,213,043.69. This trade represents a 13.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Brown sold 37,300 shares of Hamilton Insurance Group stock in a transaction 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 $14,472,000. This represents a 7.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Donald Smith & CO. Inc. grew its stake in shares of Hamilton Insurance Group by 71.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company's stock worth $43,325,000 after purchasing an additional 646,106 shares during the period. SG Americas Securities LLC purchased a new stake in Hamilton Insurance Group during the fourth quarter worth about $9,351,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Hamilton Insurance Group during the fourth quarter worth about $907,000. Allspring Global Investments Holdings LLC acquired a new position in Hamilton Insurance Group during the fourth quarter worth about $526,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Hamilton Insurance Group in the first quarter valued at about $3,229,000. Hedge funds and other institutional investors own 29.17% of the company's stock.

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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