Hamilton Insurance Group (NYSE:HG) Hits New 12-Month High – Should You Buy?

Shares of Hamilton Insurance Group, Ltd. (NYSE:HG) reached a new 52-week high on Tuesday . The company traded as high as $28.72 and last traded at $28.5630, with a volume of 155233 shares traded. The stock had previously closed at $28.37.

Analyst Upgrades and Downgrades

HG has been the topic of several research reports. BMO Capital Markets reissued a “market perform” rating and set a $26.00 price objective on shares of Hamilton Insurance Group in a research note on Tuesday. Morgan Stanley set a $28.00 price target on Hamilton Insurance Group in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods upped their price target on Hamilton Insurance Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Citizens Jmp lifted their price objective on Hamilton Insurance Group from $31.00 to $32.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Finally, Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.13.

Hamilton Insurance Group Trading Down 0.4%

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $26.15 and a 200 day simple moving average of $23.92. The firm has a market capitalization of $2.79 billion, a PE ratio of 6.75 and a beta of 0.70.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.61. The firm had revenue of $667.65 million during the quarter, compared to the consensus estimate of $537.70 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%. Equities analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Alexander James Baker sold 18,350 shares of Hamilton Insurance Group stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $26.19, for a total transaction of $480,586.50. Following the transaction, the chief executive officer directly owned 84,136 shares of the company’s stock, valued at $2,203,521.84. This trade represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 17.46% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Polymer Capital Management US LLC acquired a new stake in Hamilton Insurance Group in the third quarter valued at approximately $363,000. Mariner LLC lifted its holdings in shares of Hamilton Insurance Group by 107.3% during the 3rd quarter. Mariner LLC now owns 57,687 shares of the company’s stock valued at $1,431,000 after purchasing an additional 29,856 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Hamilton Insurance Group in the 3rd quarter worth $245,000. Millennium Management LLC grew its stake in Hamilton Insurance Group by 2.9% during the 3rd quarter. Millennium Management LLC now owns 464,406 shares of the company’s stock worth $11,517,000 after buying an additional 13,018 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Hamilton Insurance Group during the 3rd quarter valued at about $3,962,000. 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.