Hamilton Insurance Group (NYSE:HG) Sets New 52-Week High - Here's What Happened

Key Points

• Hamilton Insurance Group hit a new 52-week high, reaching $38.39 and trading up 3.2% from its previous close of $37.36.
• The company reported quarterly EPS of $1.78, beating the $0.91 consensus estimate, while revenue of $828.04 million exceeded forecasts of $693.46 million.
• Analyst sentiment is moderately positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $36.62, though recent target increases from Keefe, Bruyette & Woods and Citizens JMP set targets at $42.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday. The stock traded as high as $38.39 and last traded at $38.38, with a volume of 207,501 shares trading hands. The stock had previously closed at $37.36.

Wall Street Analyst Weigh In

HG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Hamilton Insurance Group from $40.00 to $42.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 4th. Wall Street Zen upgraded Hamilton Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley reduced their price objective on shares of Hamilton Insurance Group from $37.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 6th. Citizens Jmp lifted their price objective on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the company a "market outperform" rating in a research note on Friday, August 7th. Finally, Citigroup reiterated a "neutral" rating on shares of Hamilton Insurance Group in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.62.

Hamilton Insurance Group Trading Up 3.2%

The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 7.36 and a beta of 0.33. The firm's 50-day moving average is $35.09 and its 200-day moving average is $32.60. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.87. The firm had revenue of $828.04 million during the quarter, compared to analyst estimates of $693.46 million. Hamilton Insurance Group had a return on equity of 24.05% and a net margin of 16.83%. As a group, sell-side analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.90 EPS for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

In related news, insider Timothy Duffin sold 28,500 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $34.53, for a total value of $984,105.00. Following the sale, the insider directly owned 223,459 shares in the company, valued at approximately $7,716,039.27. The trade was a 11.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Brown sold 50,000 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the sale, the director directly owned 400,000 shares in the company, valued at approximately $14,448,000. This trade represents a 11.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Large investors have recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC boosted its stake in Hamilton Insurance Group by 0.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 91,511 shares of the company's stock worth $3,024,000 after buying an additional 430 shares during the period. Allworth Financial LP raised its stake in shares of Hamilton Insurance Group by 45.8% in the 2nd quarter. Allworth Financial LP now owns 1,407 shares of the company's stock valued at $48,000 after acquiring an additional 442 shares during the period. Kendall Capital Management raised its stake in shares of Hamilton Insurance Group by 1.2% in the 3rd quarter. Kendall Capital Management now owns 40,944 shares of the company's stock valued at $1,353,000 after acquiring an additional 475 shares during the period. Arizona State Retirement System lifted its holdings in shares of Hamilton Insurance Group by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 12,887 shares of the company's stock worth $437,000 after acquiring an additional 478 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in shares of Hamilton Insurance Group by 9.2% in the 3rd quarter. Ritholtz Wealth Management now owns 7,569 shares of the company's stock worth $250,000 after acquiring an additional 638 shares during the last quarter. 29.17% of the stock is currently owned by institutional investors.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group is a global specialty insurance and reinsurance company headquartered in Bermuda. Founded in 2013, it operates through businesses in Bermuda, the United States and the United Kingdom. The company underwrites a range of property, casualty and specialty risks, offering insurance and reinsurance products to businesses and other clients. Its operations include Hamilton Re in Bermuda, Hamilton Global Specialty in London and Hamilton Select in the United States. Pina Albo became Hamilton Insurance Group's chief executive officer in 2023.

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