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

Hamilton Insurance Group (NYSE:HG) released its quarterly earnings data on Tuesday. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $0.51 by $0.81, Zacks reports. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%.

Hamilton Insurance Group Price Performance

Shares of HG stock traded up $0.26 during trading hours on Tuesday, reaching $23.50. The stock had a trading volume of 516,007 shares, compared to its average volume of 309,094. The stock’s fifty day simple moving average is $24.19 and its 200 day simple moving average is $22.21. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group has a 12 month low of $16.80 and a 12 month high of $25.37. The firm has a market capitalization of $2.35 billion, a PE ratio of 7.55 and a beta of 0.81.

Insider Activity at Hamilton Insurance Group

In other news, insider Alexander James Baker sold 6,000 shares of Hamilton Insurance Group stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total transaction of $142,740.00. Following the completion of the sale, the insider directly owned 116,338 shares of the company’s stock, valued at approximately $2,767,681.02. The trade was a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $24.00, for a total value of $455,712.00. Following the sale, the insider directly owned 64,512 shares of the company’s stock, valued at approximately $1,548,288. This trade represents a 22.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 71,988 shares of company stock valued at $1,743,842 over the last three months. 17.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HG. AQR Capital Management LLC grew its position in shares of Hamilton Insurance Group by 186.0% during the first quarter. AQR Capital Management LLC now owns 57,399 shares of the company’s stock valued at $1,190,000 after purchasing an additional 37,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Hamilton Insurance Group by 9.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock valued at $510,000 after buying an additional 2,071 shares during the last quarter. Millennium Management LLC lifted its holdings in Hamilton Insurance Group by 9.7% in the first quarter. Millennium Management LLC now owns 442,820 shares of the company’s stock valued at $9,180,000 after acquiring an additional 39,020 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Hamilton Insurance Group by 8.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock valued at $5,797,000 after acquiring an additional 20,926 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Hamilton Insurance Group by 87.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company’s stock valued at $1,777,000 after buying an additional 39,927 shares in the last quarter. 29.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on HG. Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods boosted their target price on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Morgan Stanley raised their target price on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. JMP Securities increased their price target on Hamilton Insurance Group from $29.00 to $31.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 14th. Finally, Barclays increased their price objective on Hamilton Insurance Group from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Hamilton Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

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.