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

Hamilton Insurance Group, Ltd. (NYSE:HG)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.85 and last traded at $31.8050, with a volume of 259992 shares changing hands. The stock had previously closed at $31.25.

Analysts Set New Price Targets

A number of brokerages have issued reports on HG. Wells Fargo & Company lifted their price target on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Zacks Research lowered Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods boosted their target price on Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday. BMO Capital Markets reissued a “market perform” rating and set a $26.00 price target on shares of Hamilton Insurance Group in a research note on Tuesday, December 23rd. Finally, Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.29.

Hamilton Insurance Group Price Performance

The firm has a market capitalization of $3.13 billion, a P/E ratio of 5.70 and a beta of 0.70. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average price of $28.31 and a 200-day moving average price of $26.14.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Thursday, February 19th. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.96. Hamilton Insurance Group had a return on equity of 19.84% and a net margin of 19.85%. On average, analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current year.

Hamilton Insurance Group Announces Dividend

The firm also recently announced a special dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 6th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, March 6th.

Hedge Funds Weigh In On Hamilton Insurance Group

Hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in shares of Hamilton Insurance Group during the fourth quarter worth approximately $25,000. Chesapeake Asset Management LLC increased its holdings in Hamilton Insurance Group by 487.8% during the 4th quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Hamilton Insurance Group by 1,404.4% in the 3rd quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock worth $42,000 after buying an additional 1,587 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Hamilton Insurance Group by 112.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after buying an additional 937 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Hamilton Insurance Group during the third quarter valued at $71,000. 29.17% of the stock is currently owned by institutional investors.

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.