Hamilton Insurance Group (NYSE:HG) Posts Earnings Results

Hamilton Insurance Group (NYSE:HG) announced its earnings results on Thursday. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.20 by $0.36, Zacks reports. The company had revenue of $839.58 million for the quarter, compared to analysts’ expectations of $599.26 million. Hamilton Insurance Group had a net margin of 19.56% and a return on equity of 22.78%.

Hamilton Insurance Group Price Performance

Shares of HG stock opened at $35.91 on Friday. The business has a fifty day simple moving average of $33.46 and a 200 day simple moving average of $31.32. The company has a market cap of $3.57 billion, a P/E ratio of 6.26 and a beta of 0.33. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group has a twelve month low of $22.31 and a twelve month high of $37.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HG shares. Wall Street Zen downgraded Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 12th. Morgan Stanley upped their target price on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods increased their target price on Hamilton Insurance Group from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Finally, Zacks Research cut Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.62.

Insider Transactions at Hamilton Insurance Group

In other news, Treasurer Jonathan B. Levenson sold 6,075 shares of the firm’s 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 sale, the treasurer directly owned 39,629 shares in the company, valued at approximately $1,213,043.69. This trade represents a 13.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David A. Brown sold 37,300 shares of Hamilton Insurance Group stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the sale, the director directly owned 450,000 shares in the company, valued at $14,472,000. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 56,075 shares of company stock worth $1,789,638. Company insiders own 3.02% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in Hamilton Insurance Group by 186.0% during the 1st quarter. AQR Capital Management LLC now owns 57,399 shares of the company’s stock worth $1,190,000 after acquiring an additional 37,329 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hamilton Insurance Group by 9.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock worth $510,000 after acquiring an additional 2,071 shares in the last quarter. Millennium Management LLC grew its stake in Hamilton Insurance Group by 9.7% in the first quarter. Millennium Management LLC now owns 442,820 shares of the company’s stock valued at $9,180,000 after acquiring an additional 39,020 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Hamilton Insurance Group by 8.1% during the first quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock valued at $5,797,000 after acquiring an additional 20,926 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Hamilton Insurance Group by 87.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company’s stock valued at $1,777,000 after acquiring an additional 39,927 shares in the last quarter. Institutional investors and hedge funds own 29.17% of the company’s stock.

Hamilton Insurance Group Company Profile

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.