Hamilton Insurance Group (NYSE:HG) Shares Down 3.9% - Time to Sell?

Key Points

• Hamilton Insurance Group shares fell 3.9% in mid-day trading, with the stock last trading around $33.49 after dipping as low as $33.68.
• Wall Street sentiment remains mostly positive, as several analysts recently raised price targets to $39, and the consensus rating is a “Moderate Buy” with an average target of $35.38.
• The company posted strong profitability in its latest quarterly results, beating EPS expectations with $1.64 per share, though revenue came in below estimates at $758.91 million.

Shares of Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) fell 3.9% during mid-day trading on Wednesday . The company traded as low as $33.68 and last traded at $33.4940. 21,105 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 519,943 shares. The stock had previously closed at $34.86.

Analysts Set New Price Targets

Several analysts recently issued reports on HG shares. Morgan Stanley raised their target price on Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Wells Fargo & Company increased their price objective on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Barclays increased their price target on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Citigroup reissued an "outperform" rating on shares of Hamilton Insurance Group in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods upped their price target on Hamilton Insurance Group from $34.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Hamilton Insurance Group has an average rating of "Moderate Buy" and a consensus target price of $35.38.

Hamilton Insurance Group Stock Performance

The firm has a fifty day moving average price of $31.91 and a two-hundred day moving average price of $30.30. The stock has a market capitalization of $3.40 billion, a PE ratio of 5.61 and a beta of 0.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.08 by $0.56. The firm had revenue of $758.91 million for the quarter, compared to analyst estimates of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. Research analysts expect that Hamilton Insurance Group, Ltd. will post 4.12 EPS for the current year.

Insider Activity at Hamilton Insurance Group

In other news, CAO Brian John Deegan sold 11,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total value of $337,590.00. Following the transaction, the chief accounting officer directly owned 71,347 shares in the company, valued at approximately $2,189,639.43. This represents a 13.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the transaction, the treasurer directly owned 39,629 shares of the company's stock, valued at approximately $1,213,043.69. This represents a 13.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in HG. Kestra Advisory Services LLC acquired a new stake in Hamilton Insurance Group during the 4th quarter valued at $25,000. Chesapeake Asset Management LLC boosted its position in shares of Hamilton Insurance Group by 487.8% during the fourth quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company's stock worth $34,000 after buying an additional 1,000 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company's stock worth $49,000 after purchasing an additional 937 shares in the last quarter. KBC Group NV acquired a new position in Hamilton Insurance Group during the 1st quarter valued at about $65,000. Finally, Royal Bank of Canada raised its holdings in 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 purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds 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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