Hamilton Insurance Group (NYSE:HG) Trading 6.8% Higher – Still a Buy?

Hamilton Insurance Group, Ltd. (NYSE:HG) was up 6.8% on Thursday . The stock traded as high as $19.71 and last traded at $19.66. Approximately 191,985 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 405,680 shares. The stock had previously closed at $18.41.

Analysts Set New Price Targets

Separately, Barclays set a $25.00 price target on shares of Hamilton Insurance Group and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.40.

Hamilton Insurance Group Price Performance

The company has a 50 day moving average of $18.86 and a 200 day moving average of $18.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 4.32 and a beta of 1.02.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.44). The company had revenue of $543.94 million for the quarter, compared to analyst estimates of $460.17 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. As a group, equities research analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Hamilton Insurance Group by 198.2% during the third quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock worth $71,859,000 after purchasing an additional 2,469,422 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Hamilton Insurance Group by 538.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock worth $16,677,000 after buying an additional 727,242 shares during the last quarter. Private Management Group Inc. acquired a new position in shares of Hamilton Insurance Group in the 4th quarter valued at $10,511,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Hamilton Insurance Group in the 3rd quarter valued at $9,419,000. Finally, State Street Corp grew its position in shares of Hamilton Insurance Group by 133.3% in the 3rd quarter. State Street Corp now owns 532,632 shares of the company’s stock valued at $10,301,000 after buying an additional 304,371 shares during the last quarter. 29.17% of the stock is currently owned by institutional investors and hedge funds.

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.