Hamilton Insurance Group (NYSE:HG) Reaches New 12-Month High – What’s Next?

Hamilton Insurance Group, Ltd. (NYSE:HG) hit a new 52-week high on Monday . The company traded as high as $36.48 and last traded at $36.34, with a volume of 18888 shares changing hands. The stock had previously closed at $36.16.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HG. Wells Fargo & Company raised their target price on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Morgan Stanley upped their price target on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Citizens Jmp increased their price objective on Hamilton Insurance Group from $38.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, July 10th. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Barclays lifted their target price on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Hamilton Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Hamilton Insurance Group Stock Performance

The firm’s fifty day simple moving average is $32.55 and its 200 day simple moving average is $30.69. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 5.90 and a beta of 0.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (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 for the quarter, compared to analyst estimates of $933.90 million. On average, sell-side analysts forecast that Hamilton Insurance Group, Ltd. will post 4.12 EPS for the current year.

Insiders Place Their Bets

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 completion of the sale, the director directly owned 450,000 shares in the company, valued at approximately $14,472,000. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total value of $185,955.75. Following the transaction, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HG. Wellington Management Group LLP grew its holdings in shares of Hamilton Insurance Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after acquiring an additional 737,084 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Hamilton Insurance Group by 71.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock worth $43,325,000 after acquiring an additional 646,106 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Hamilton Insurance Group during the fourth quarter worth $16,667,000. Millennium Management LLC raised its holdings in shares of Hamilton Insurance Group by 89.8% during the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock worth $24,599,000 after acquiring an additional 417,261 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Hamilton Insurance Group by 101.9% during the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock valued at $17,490,000 after purchasing an additional 355,947 shares during the last quarter. Institutional investors and hedge funds own 29.17% of the company’s stock.

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.