Hamilton Insurance Group (NYSE:HG) Posts Quarterly Earnings Results, Beats Estimates By $0.61 EPS

Hamilton Insurance Group (NYSE:HG) announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.61, Zacks reports. The firm had revenue of $667.65 million during the quarter, compared to analysts’ expectations of $537.70 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%.

Hamilton Insurance Group Stock Performance

HG opened at $27.57 on Wednesday. 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 stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 6.56 and a beta of 0.81. The company has a fifty day moving average of $24.86 and a 200 day moving average of $23.00. Hamilton Insurance Group has a fifty-two week low of $16.80 and a fifty-two week high of $27.88.

Wall Street Analysts Forecast Growth

HG has been the subject of a number of research analyst reports. Citizens Jmp raised their price objective on shares of Hamilton Insurance Group from $31.00 to $32.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 5th. Keefe, Bruyette & Woods increased their target price on Hamilton Insurance Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Barclays boosted their price objective on Hamilton Insurance Group from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.62.

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 that occurred on Friday, November 14th. The stock was sold at an average price of $26.19, for a total value of $480,586.50. Following the completion of the transaction, the chief executive officer owned 84,136 shares in the company, valued at approximately $2,203,521.84. The trade was a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keith Donald Bernhard sold 47,000 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $24.37, for a total value of $1,145,390.00. Following the transaction, the insider directly owned 53,893 shares in the company, valued at approximately $1,313,372.41. This represents a 46.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds have recently added to or reduced their stakes in HG. Strs Ohio bought a new position in shares of Hamilton Insurance Group during the first quarter valued at approximately $112,000. Tower Research Capital LLC TRC grew its position in Hamilton Insurance Group by 24.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company’s stock valued at $123,000 after acquiring an additional 1,101 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in Hamilton Insurance Group in the second quarter worth $230,000. Creative Planning bought a new stake in shares of Hamilton Insurance Group during the second quarter worth $234,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Hamilton Insurance Group during the third quarter worth $245,000. 29.17% of the stock is currently owned by institutional investors.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.