Hamilton Insurance Group (NYSE:HG) Shares Gap Down – Here’s What Happened

Hamilton Insurance Group, Ltd. (NYSE:HG) shares gapped down before the market opened on Friday . The stock had previously closed at $30.54, but opened at $27.89. Hamilton Insurance Group shares last traded at $28.0360, with a volume of 130,226 shares.

Analyst Ratings Changes

Several research firms have commented on HG. Zacks Research downgraded shares of Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods lifted their target price on Hamilton Insurance Group from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, February 23rd. Barclays reissued an “overweight” rating and set a $35.00 target price on shares of Hamilton Insurance Group in a research note on Friday, February 20th. Wall Street Zen lowered Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Wells Fargo & Company lifted their price objective on Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Five equities research 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, the company has an average rating of “Moderate Buy” and a consensus price target of $32.29.

Hamilton Insurance Group Stock Down 7.6%

The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.78 billion, a PE ratio of 5.06 and a beta of 0.56. The firm has a fifty day moving average of $28.67 and a 200 day moving average of $26.44.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Thursday, February 19th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a return on equity of 19.43% and a net margin of 19.85%. On average, equities research analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Hamilton Insurance Group Announces Dividend

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

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of HG. Kestra Advisory Services LLC purchased a new position in shares of Hamilton Insurance Group during the fourth quarter worth about $25,000. Chesapeake Asset Management LLC lifted its position 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 acquiring an additional 1,000 shares during the period. Versant Capital Management Inc grew its stake 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 valued at $42,000 after purchasing an additional 1,587 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock valued at $49,000 after purchasing an additional 937 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Hamilton Insurance Group during the third quarter worth approximately $71,000. 29.17% of the stock is currently owned by institutional investors and hedge funds.

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.