Hamilton Insurance Group (NYSE:HG) Sets New 12-Month High – Should You Buy?

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $33.94 and last traded at $33.5750, with a volume of 28696 shares changing hands. The stock had previously closed at $33.55.

Analysts Set New Price Targets

A number of analysts recently commented on HG shares. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Barclays raised their price objective on Hamilton Insurance Group from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Wells Fargo & Company lifted their target price on shares of Hamilton Insurance Group from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Morgan Stanley lifted their target price on Hamilton Insurance Group from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Hamilton Insurance Group has an average rating of “Moderate Buy” and an average target price of $34.00.

Hamilton Insurance Group Stock Performance

The business’s fifty day moving average is $31.40 and its 200-day moving average is $29.75. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.36 billion, a PE ratio of 5.54 and a beta of 0.45.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The business had revenue of $758.91 million during the quarter, compared to analysts’ expectations of $933.90 million. As a group, research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Hamilton Insurance Group news, Director David A. Brown sold 37,300 shares of the firm’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian John Deegan sold 11,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total value of $337,590.00. Following the sale, the chief accounting officer directly owned 71,347 shares in the company, valued at $2,189,639.43. This trade represents a 13.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is owned by corporate insiders.

Institutional Trading of Hamilton Insurance Group

Several hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new stake in Hamilton Insurance Group in the 4th quarter worth approximately $25,000. Chesapeake Asset Management LLC raised its holdings 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 valued at $34,000 after buying an additional 1,000 shares during the period. Harbor Capital Advisors Inc. lifted its position in Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after buying an additional 937 shares during the last quarter. KBC Group NV purchased a new position in Hamilton Insurance Group during the first quarter worth $65,000. Finally, Royal Bank of Canada increased its position in 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 acquiring an additional 410 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.