Hamilton Insurance Group (NYSE:HG) Shares Gap Down – Here’s What Happened

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $30.54, but opened at $27.89. Hamilton Insurance Group shares last traded at $28.0360, with a volume of 130,226 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HG shares. BMO Capital Markets restated a “market perform” rating and issued a $26.00 target price on shares of Hamilton Insurance Group in a research note on Tuesday, December 23rd. Morgan Stanley set a $28.00 price target on shares of Hamilton Insurance Group in a report on Tuesday, December 16th. Wall Street Zen lowered Hamilton Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup boosted their target price on Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.29.

Hamilton Insurance Group Stock Performance

The stock’s fifty day simple moving average is $28.67 and its 200-day simple moving average is $26.44. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.78 billion, a PE ratio of 5.06 and a beta of 0.56.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Thursday, February 19th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a return on equity of 19.43% and a net margin of 19.85%. On average, research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Hamilton Insurance Group Dividend Announcement

The company also recently announced a special dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 6th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, March 6th.

Institutional Investors Weigh In On Hamilton Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in HG. Wellington Management Group LLP increased its holdings in Hamilton Insurance Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after acquiring an additional 737,084 shares in the last quarter. Nuveen LLC grew its position in shares of Hamilton Insurance Group by 3.5% in the fourth quarter. Nuveen LLC now owns 2,220,738 shares of the company’s stock valued at $61,959,000 after purchasing an additional 74,194 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Hamilton Insurance Group by 15.7% during the 2nd quarter. American Century Companies Inc. now owns 2,214,591 shares of the company’s stock worth $47,879,000 after purchasing an additional 301,334 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in Hamilton Insurance Group by 71.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock valued at $43,325,000 after buying an additional 646,106 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Hamilton Insurance Group by 1.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,373,491 shares of the company’s stock valued at $34,063,000 after buying an additional 15,615 shares during the last quarter. 29.17% of the stock is currently 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.