Hamilton Insurance Group (NYSE:HG) Shares Down 3.9% – What’s Next?

Hamilton Insurance Group, Ltd. (NYSE:HG) shares fell 3.9% on Wednesday . The company traded as low as $33.68 and last traded at $33.4940. 21,105 shares traded 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

A number of equities research analysts have commented on the company. UBS Group set a $33.00 price objective on Hamilton Insurance Group in a research report on Thursday, May 21st. Morgan Stanley increased their price objective on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Zacks Research downgraded Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Citizens Jmp increased their price objective on Hamilton Insurance Group from $38.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Hamilton Insurance Group Price Performance

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

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The business had revenue of $758.91 million during the quarter, compared to analysts’ expectations of $933.90 million. Sell-side analysts expect that Hamilton Insurance Group, Ltd. will post 4.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total value of $185,955.75. Following the transaction, the treasurer directly owned 39,629 shares of the company’s stock, valued at $1,213,043.69. This trade represents a 13.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David A. Brown sold 37,300 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the completion of the transaction, the director directly owned 450,000 shares of the company’s stock, valued at $14,472,000. This trade represents a 7.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 70,105 shares of company stock worth $2,220,158 over the last ninety days. Corporate insiders own 3.02% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of Hamilton Insurance Group by 15.8% during the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock valued at $84,000 after buying an additional 410 shares during the period. Parallel Advisors LLC grew its holdings in Hamilton Insurance Group by 20.0% during the 1st quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock worth $131,000 after acquiring an additional 735 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Hamilton Insurance Group during the 4th quarter worth about $25,000. CWM LLC raised its holdings in shares of Hamilton Insurance Group by 4.2% in the 4th quarter. CWM LLC now owns 22,594 shares of the company’s stock valued at $630,000 after purchasing an additional 919 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Hamilton Insurance Group by 112.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares during the period. 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.