Hamilton Insurance Group (NYSE:HG) Reaches New 12-Month High - What's Next?

Key Points

• Hamilton Insurance Group (NYSE:HG) hit a new 52-week high of $32.61, and several brokers have raised price targets (e.g., Keefe, Bruyette & Woods to $35; Wells Fargo to $34) leaving a consensus rating of “Moderate Buy” with a $32.71 target.
• The company reported a strong quarter—EPS $1.65 vs. $0.69 expected and revenue $728.3M vs. $621M expected—producing ~19.4% ROE and ~19.9% net margin, with analysts forecasting about 4.1 EPS for the year.
• Hamilton paid a $2.00 special dividend (record Mar 6, paid Mar 30), has low leverage (debt-to-equity 0.05), a PE of 5.87 and a $3.24B market cap, with roughly 29% of shares held by institutions.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $32.61 and last traded at $32.6170, with a volume of 20568 shares traded. The stock had previously closed at $32.03.

Analyst Ratings Changes

A number of brokerages have commented on HG. Keefe, Bruyette & Woods upped their price target on Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Monday, February 23rd. Wells Fargo & Company upped their price target on Hamilton Insurance Group from $31.00 to $34.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 13th. Zacks Research cut Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 2nd. Citigroup upped their price target on Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $32.71.

Hamilton Insurance Group Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50-day moving average of $30.13 and a 200-day moving average of $27.72. The stock has a market cap of $3.24 billion, a PE ratio of 5.87 and a beta of 0.53.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its earnings results on Saturday, February 14th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a return on equity of 19.43% and a net margin of 19.85%.The firm had revenue of $728.33 million during the quarter, compared to analysts' expectations of $621.00 million. Research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Hamilton Insurance Group Announces Dividend

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

Institutional Trading of Hamilton Insurance Group

Several institutional investors have recently made changes to their positions in HG. Kestra Advisory Services LLC bought a new position in Hamilton Insurance Group during the fourth quarter valued at approximately $25,000. Chesapeake Asset Management LLC boosted its stake in Hamilton Insurance Group by 487.8% during the fourth quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company's stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Versant Capital Management Inc boosted its stake in Hamilton Insurance Group by 1,404.4% during the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company's stock valued at $42,000 after buying an additional 1,587 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Hamilton Insurance Group by 112.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company's stock valued at $49,000 after buying an additional 937 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Hamilton Insurance Group during the third quarter valued at approximately $71,000. Hedge funds and other 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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