Hamilton Insurance Group (NYSE:HG) Reaches New 1-Year High – Time to Buy?

Hamilton Insurance Group, Ltd. (NYSE:HG) shares reached 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. The stock had previously closed at $36.16.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HG shares. Morgan Stanley lifted 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 stock a “market outperform” rating in a report on Friday, July 10th. Wells Fargo & Company raised their price objective on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Wall Street Zen upgraded shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.38.

Hamilton Insurance Group Trading Down 0.3%

The company has a fifty day moving average of $32.55 and a two-hundred day moving average of $30.69. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 5.90 and a beta of 0.35.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The company had revenue of $758.91 million for the quarter, compared to the consensus estimate of $933.90 million. On average, research analysts expect that Hamilton Insurance Group, Ltd. will post 4.12 EPS for the current year.

Insider Buying and Selling

In related news, CAO Brian John Deegan sold 11,000 shares of Hamilton Insurance Group stock in a transaction 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 transaction, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. This trade represents a 13.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total transaction of $185,955.75. Following the transaction, the treasurer directly owned 39,629 shares of the company’s stock, valued at approximately $1,213,043.69. This represents a 13.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 70,105 shares of company stock valued at $2,220,158. Company insiders own 3.02% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB acquired a new position in shares of Hamilton Insurance Group during the 2nd quarter worth about $244,000. Cim LLC grew its holdings in Hamilton Insurance Group by 78.9% in the 1st quarter. Cim LLC now owns 21,262 shares of the company’s stock valued at $634,000 after buying an additional 9,374 shares during the last quarter. California State Teachers Retirement System grew its holdings in Hamilton Insurance Group by 38.0% in the 1st quarter. California State Teachers Retirement System now owns 59,732 shares of the company’s stock valued at $1,782,000 after buying an additional 16,437 shares during the last quarter. Empowered Funds LLC increased its position in Hamilton Insurance Group by 10.9% in the 1st quarter. Empowered Funds LLC now owns 456,436 shares of the company’s stock worth $13,615,000 after buying an additional 44,690 shares during the period. Finally, Quantinno Capital Management LP increased its position in Hamilton Insurance Group by 30.9% in the 1st quarter. Quantinno Capital Management LP now owns 17,928 shares of the company’s stock worth $535,000 after buying an additional 4,232 shares during the period. 29.17% of the stock is 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.