Hamilton Insurance Group (NYSE:HG) Sets New 1-Year High – Still a Buy?

Hamilton Insurance Group, Ltd. (NYSE:HG)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.85 and last traded at $31.8050, with a volume of 259992 shares traded. The stock had previously closed at $31.25.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HG. Wall Street Zen cut shares of Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday. 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. Wells Fargo & Company lifted their target price 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. Citigroup boosted their price objective on shares of Hamilton Insurance Group from $28.50 to $33.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Citizens Jmp increased their target price on shares of Hamilton Insurance Group from $32.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.29.

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 market capitalization of $3.11 billion, a price-to-earnings ratio of 5.67 and a beta of 0.70. The firm has a 50-day simple moving average of $28.45 and a two-hundred day simple moving average of $26.24.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Thursday, February 19th. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.84%. On average, sell-side 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 paid a $2.00 dividend. The ex-dividend date is Friday, March 6th.

Institutional Trading of Hamilton Insurance Group

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Hamilton Insurance Group by 16.2% in the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock worth $131,378,000 after acquiring an additional 737,084 shares during the last quarter. Donald Smith & CO. Inc. acquired a new stake in shares of Hamilton Insurance Group in the 2nd quarter valued at $14,272,000. Freestone Grove Partners LP purchased a new stake in shares of Hamilton Insurance Group during the 4th quarter worth $16,667,000. Millennium Management LLC lifted its position in shares of Hamilton Insurance Group by 89.8% during the 4th quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock worth $24,599,000 after purchasing an additional 417,261 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Hamilton Insurance Group by 101.9% during the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock worth $17,490,000 after purchasing an additional 355,947 shares in the last quarter. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

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.