Hamilton Insurance Group (NYSE:HG) Reaches New 1-Year High - Still a Buy?

Key Points

• Hamilton Insurance Group shares reached a new 52-week high at $25.08, closing at $24.90, indicating strong market performance.
• Analysts have varied ratings on the stock, with four giving a Buy rating, while the average price target is set at $25.43.
• The company reported earnings of $1.55 per share, exceeding expectations, and a revenue of $712.03 million for the last quarter, reflecting solid financial health.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $25.08 and last traded at $24.90, with a volume of 100112 shares changing hands. The stock had previously closed at $24.60.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JMP Securities boosted their price objective on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Barclays raised their target price on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Zacks Research raised Hamilton Insurance Group to a "hold" rating in a research report on Tuesday, August 12th. BMO Capital Markets reiterated a "market perform" rating and issued a $23.00 price objective on shares of Hamilton Insurance Group in a report on Thursday, June 5th. Finally, Keefe, Bruyette & Woods boosted their target price on Hamilton Insurance Group from $25.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $25.43.

Hamilton Insurance Group Stock Up 0.8%

The company's fifty day simple moving average is $23.29 and its 200 day simple moving average is $21.38. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.48 billion, a PE ratio of 6.84 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.54. The firm had revenue of $712.03 million during the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. Analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Insider Transactions at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $24.00, for a total value of $455,712.00. Following the sale, the insider owned 64,512 shares in the company, valued at approximately $1,548,288. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander James Baker sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total transaction of $142,740.00. Following the transaction, the insider directly owned 116,338 shares of the company's stock, valued at $2,767,681.02. This represents a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,988 shares of company stock valued at $1,743,842 in the last three months. 17.46% of the stock is currently owned by company insiders.

Institutional Trading of Hamilton Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG lifted its position in Hamilton Insurance Group by 0.6% in the 1st quarter. Deutsche Bank AG now owns 100,206 shares of the company's stock valued at $2,077,000 after acquiring an additional 555 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Hamilton Insurance Group by 1.0% in the first quarter. Rhumbline Advisers now owns 57,764 shares of the company's stock worth $1,197,000 after purchasing an additional 557 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Hamilton Insurance Group by 14.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock worth $99,000 after purchasing an additional 585 shares during the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Hamilton Insurance Group by 3.1% during the first quarter. Corebridge Financial Inc. now owns 20,297 shares of the company's stock valued at $421,000 after purchasing an additional 616 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Hamilton Insurance Group by 92.2% during the first quarter. Amalgamated Bank now owns 1,428 shares of the company's stock valued at $30,000 after buying an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company's stock.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.

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