Hamilton Insurance Group (NYSE:HG) Hits New 1-Year High – Here’s Why

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $30.00 and last traded at $29.5750, with a volume of 124694 shares changing hands. The stock had previously closed at $29.48.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JMP Securities set a $32.00 price target on Hamilton Insurance Group in a research report on Wednesday, November 5th. Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their target price on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Finally, Zacks Research cut Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.88.

Hamilton Insurance Group Stock Up 0.4%

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.66 and a quick ratio of 0.66. The company has a 50-day moving average of $27.48 and a two-hundred day moving average of $25.41. The company has a market capitalization of $2.91 billion, a PE ratio of 7.05 and a beta of 0.70.

Insider Transactions at Hamilton Insurance Group

In other news, CEO Alexander James Baker sold 18,350 shares of Hamilton Insurance Group stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $26.19, for a total value of $480,586.50. Following the sale, the chief executive officer directly owned 84,136 shares of the company’s stock, valued at approximately $2,203,521.84. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new position in Hamilton Insurance Group during the 4th quarter valued at $279,000. Intech Investment Management LLC grew its holdings in shares of Hamilton Insurance Group by 11.3% in the fourth quarter. Intech Investment Management LLC now owns 23,541 shares of the company’s stock worth $657,000 after purchasing an additional 2,388 shares during the last quarter. ProShare Advisors LLC purchased a new position in Hamilton Insurance Group in the 4th quarter worth about $229,000. Ameritas Advisory Services LLC lifted its holdings in Hamilton Insurance Group by 657.2% during the 4th quarter. Ameritas Advisory Services LLC now owns 15,318 shares of the company’s stock valued at $427,000 after buying an additional 13,295 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Hamilton Insurance Group by 129.2% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 27,050 shares of the company’s stock valued at $755,000 after buying an additional 15,250 shares during the period. Hedge funds and other institutional investors own 29.17% of the company’s stock.

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.