Hamilton Insurance Group (NYSE:HG) Reaches New 52-Week High – What’s Next?

Hamilton Insurance Group, Ltd. (NYSE:HG) shares hit a new 52-week high on Monday . The company traded as high as $34.71 and last traded at $34.3880, with a volume of 529615 shares. The stock had previously closed at $34.44.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Hamilton Insurance Group from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st. Morgan Stanley lifted their price objective on Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Finally, UBS Group set a $33.00 target price on Hamilton Insurance Group in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.38.

Hamilton Insurance Group Stock Performance

The company’s 50-day moving average price is $31.65 and its 200 day moving average price is $30.08. The stock has a market capitalization of $3.38 billion, a PE ratio of 5.57 and a beta of 0.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The company had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. On average, equities research analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Insider Transactions at Hamilton Insurance Group

In other news, Director David A. Brown sold 37,300 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was 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 owned 450,000 shares in the company, valued at $14,472,000. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the sale, the treasurer directly owned 39,629 shares in the company, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 70,105 shares of company stock valued at $2,220,158. Corporate insiders own 3.02% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in Hamilton Insurance Group by 15.8% during the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock valued at $84,000 after acquiring an additional 410 shares during the period. Parallel Advisors LLC increased its stake in shares of Hamilton Insurance Group by 20.0% during the first quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock valued at $131,000 after purchasing an additional 735 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Hamilton Insurance Group during the fourth quarter valued at approximately $25,000. CWM LLC lifted its holdings in shares of Hamilton Insurance Group by 4.2% during the fourth quarter. CWM LLC now owns 22,594 shares of the company’s stock valued at $630,000 after purchasing an additional 919 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Hamilton Insurance Group by 112.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares in the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

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.