Hamilton Insurance Group, Ltd. (NYSE:HG) Short Interest Update

Hamilton Insurance Group, Ltd. (NYSE:HG) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,330,000 shares, a growth of 5.6% from the December 15th total of 1,260,000 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily volume of 413,400 shares, the short-interest ratio is presently 3.2 days.

Hamilton Insurance Group Price Performance

Hamilton Insurance Group stock remained flat at $19.39 during midday trading on Monday. 523,069 shares of the company were exchanged, compared to its average volume of 366,030. The company has a market capitalization of $1.97 billion, a P/E ratio of 4.34 and a beta of 1.03. Hamilton Insurance Group has a 1 year low of $12.44 and a 1 year high of $20.71. The business has a 50-day moving average of $18.81 and a two-hundred day moving average of $18.29. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $512.84 million for the quarter, compared to analyst estimates of $515.96 million. Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. During the same period last year, the company posted $0.41 EPS. On average, analysts expect that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HG shares. Barclays lowered their target price on shares of Hamilton Insurance Group from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Insiders Place Their Bets

In other news, CAO Brian John Deegan sold 17,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $19.18, for a total transaction of $335,650.00. Following the sale, the chief accounting officer now directly owns 20,824 shares of the company’s stock, valued at $399,404.32. This represents a 45.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Hamilton Insurance Group by 63.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 51,359 shares of the company’s stock worth $855,000 after purchasing an additional 19,991 shares in the last quarter. Rhumbline Advisers lifted its stake in Hamilton Insurance Group by 52.0% in the 2nd quarter. Rhumbline Advisers now owns 25,068 shares of the company’s stock worth $417,000 after purchasing an additional 8,572 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Hamilton Insurance Group by 40.7% in the 2nd quarter. Renaissance Technologies LLC now owns 357,800 shares of the company’s stock worth $5,957,000 after purchasing an additional 103,426 shares in the last quarter. Sei Investments Co. lifted its stake in Hamilton Insurance Group by 22.8% in the 2nd quarter. Sei Investments Co. now owns 250,725 shares of the company’s stock worth $4,175,000 after purchasing an additional 46,540 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Hamilton Insurance Group by 137.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 110,453 shares of the company’s stock worth $1,839,000 after purchasing an additional 63,937 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., 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.