Hamilton Insurance Group (NYSE:HG) Announces Quarterly Earnings Results

Hamilton Insurance Group (NYSE:HG) released its quarterly earnings data on Thursday. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.36, Zacks reports. The business had revenue of $839.58 million during the quarter, compared to analysts’ expectations of $599.26 million. Hamilton Insurance Group had a return on equity of 22.78% and a net margin of 19.56%.

Hamilton Insurance Group Stock Up 1.0%

Shares of NYSE HG traded up $0.36 on Friday, reaching $35.91. 462,991 shares of the company’s stock traded hands, compared to its average volume of 439,885. The business’s 50 day simple moving average is $33.46 and its two-hundred day simple moving average is $31.32. Hamilton Insurance Group has a 12 month low of $22.31 and a 12 month high of $37.31. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 6.26 and a beta of 0.33. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Analysts Set New Price Targets

HG has been the subject of a number of research analyst reports. Citizens Jmp raised their price target on Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Friday. Morgan Stanley boosted their price objective on shares of Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Weiss Ratings upgraded shares of Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 12th. Barclays 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 research report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Hamilton Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $35.62.

Insiders Place Their Bets

In other Hamilton Insurance Group news, Director David A. Brown sold 37,300 shares of Hamilton Insurance Group stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.16, for a total value of $1,199,568.00. Following the completion of the transaction, the director directly owned 450,000 shares of the company’s stock, valued at approximately $14,472,000. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the transaction, the treasurer directly owned 39,629 shares in the company, valued at $1,213,043.69. This trade represents a 13.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 56,075 shares of company stock valued at $1,789,638 in the last quarter. 3.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in shares of Hamilton Insurance Group by 16.7% in the fourth quarter. Invesco Ltd. now owns 40,237 shares of the company’s stock worth $1,123,000 after acquiring an additional 5,756 shares during the period. Corient Private Wealth LLC increased its holdings in Hamilton Insurance Group by 8.5% during the fourth quarter. Corient Private Wealth LLC now owns 12,095 shares of the company’s stock valued at $337,000 after buying an additional 950 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Hamilton Insurance Group by 11.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,990 shares of the company’s stock valued at $307,000 after buying an additional 1,093 shares during the last quarter. Mackenzie Financial Corp raised its position in Hamilton Insurance Group by 13.0% in the fourth quarter. Mackenzie Financial Corp now owns 23,424 shares of the company’s stock worth $652,000 after acquiring an additional 2,691 shares during the period. Finally, Voloridge Investment Management LLC raised its position in Hamilton Insurance Group by 18.8% in the fourth quarter. Voloridge Investment Management LLC now owns 230,328 shares of the company’s stock worth $6,426,000 after acquiring an additional 36,472 shares during the period. Institutional investors 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.