Hamilton Insurance Group (NYSE:HG) Reaches New 1-Year High – Here’s Why

Hamilton Insurance Group, Ltd. (NYSE:HG) shares hit a new 52-week high on Tuesday . The stock traded as high as $30.00 and last traded at $29.5750, with a volume of 124694 shares trading hands. The stock had previously closed at $29.48.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a report on Wednesday, November 5th. BMO Capital Markets reissued a “market perform” rating and set a $26.00 target price on shares of Hamilton Insurance Group in a report on Tuesday, December 23rd. Morgan Stanley set a $28.00 price target on Hamilton Insurance Group in a research note on Tuesday, December 16th. Citizens Jmp upped their price target on shares of Hamilton Insurance Group from $31.00 to $32.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 5th. Finally, JMP Securities set a $32.00 price target on Hamilton Insurance Group in a research note on Wednesday, November 5th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.88.

Hamilton Insurance Group Trading Up 0.4%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $2.91 billion, a P/E ratio of 7.05 and a beta of 0.70. The firm has a 50 day simple moving average of $27.48 and a two-hundred day simple moving average of $25.41.

Insider Activity at Hamilton Insurance Group

In other news, CEO Alexander James Baker sold 18,350 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $26.19, for a total value of $480,586.50. Following the transaction, the chief executive officer owned 84,136 shares in the company, valued at $2,203,521.84. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several large investors have recently modified their holdings of HG. AQR Capital Management LLC lifted its position in shares of Hamilton Insurance Group by 186.0% during the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 2,071 shares during the last quarter. Millennium Management LLC raised its position in shares of Hamilton Insurance Group by 9.7% during the 1st quarter. Millennium Management LLC now owns 442,820 shares of the company’s stock valued at $9,180,000 after buying an additional 39,020 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Hamilton Insurance Group by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock worth $5,797,000 after purchasing an additional 20,926 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 during the last quarter. Hedge funds and other institutional investors 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.