Hamilton Insurance Group (NYSE:HG) Hits New 52-Week High – Here’s What Happened

Hamilton Insurance Group, Ltd. (NYSE:HG) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $31.68 and last traded at $31.0750, with a volume of 21059 shares traded. The stock had previously closed at $31.41.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HG. 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 report on Tuesday, January 13th. BMO Capital Markets reiterated a “market perform” rating and set a $26.00 price target on shares of Hamilton Insurance Group in a research report on Tuesday, December 23rd. Barclays raised their price objective on shares of Hamilton Insurance Group from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Morgan Stanley set a $28.00 target price on shares of Hamilton Insurance Group in a research report on Tuesday, December 16th. Finally, Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.57.

Hamilton Insurance Group Stock Performance

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 company has a fifty day moving average of $27.99 and a two-hundred day moving average of $25.80. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 7.35 and a beta of 0.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HG. AQR Capital Management LLC lifted its position in 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 purchasing an additional 37,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hamilton Insurance Group by 9.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock worth $510,000 after acquiring an additional 2,071 shares during the period. Millennium Management LLC boosted 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 worth $9,180,000 after acquiring an additional 39,020 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in 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 acquiring an additional 20,926 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 purchasing an additional 39,927 shares in 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.