Hamilton Insurance Group, Ltd. (NYSE:HG) Sees Significant Decrease in Short Interest

Hamilton Insurance Group, Ltd. (NYSE:HG) saw a significant drop in short interest in February. As of February 13th, there was short interest totaling 984,546 shares, a drop of 13.5% from the January 29th total of 1,138,458 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 755,116 shares, the days-to-cover ratio is currently 1.3 days. Based on an average trading volume of 755,116 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.2% of the shares of the company are short sold.

Institutional Trading of Hamilton Insurance Group

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in Hamilton Insurance Group by 186.0% in the 1st quarter. AQR Capital Management LLC now owns 57,399 shares of the company’s stock worth $1,190,000 after purchasing an additional 37,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $510,000 after purchasing an additional 2,071 shares in the last quarter. Millennium Management LLC increased its holdings in shares of 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 purchasing an additional 39,020 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Hamilton Insurance Group by 8.1% in the first quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock valued at $5,797,000 after purchasing an additional 20,926 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 worth $1,777,000 after buying an additional 39,927 shares in the last quarter. Hedge funds and other institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Price Performance

NYSE:HG traded up $0.14 during trading hours on Wednesday, hitting $31.24. 157,412 shares of the stock were exchanged, compared to its average volume of 583,309. The firm’s fifty day moving average price is $28.57 and its 200 day moving average price is $26.38. Hamilton Insurance Group has a 52-week low of $16.80 and a 52-week high of $32.21. The company has a market cap of $3.07 billion, a P/E ratio of 5.61 and a beta of 0.56. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05.

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 19.43% and a net margin of 19.85%. As a group, equities research analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Hamilton Insurance Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HG. Wells Fargo & Company lifted their target price 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. BMO Capital Markets reiterated a “market perform” rating and issued a $26.00 price objective on shares of Hamilton Insurance Group in a research report on Tuesday, December 23rd. Barclays restated an “overweight” rating and set a $35.00 target price on shares of Hamilton Insurance Group in a research report on Friday, February 20th. Zacks Research downgraded Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hamilton Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.29.

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.