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

Hamilton Insurance Group (NYSE:HG) issued its quarterly earnings results on Thursday. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.87, FiscalAI reports. The business had revenue of $828.04 million during the quarter, compared to analyst estimates of $693.46 million. Hamilton Insurance Group had a net margin of 16.83% and a return on equity of 24.05%.

Hamilton Insurance Group Trading Up 1.7%

Shares of HG traded up $0.59 during trading hours on Friday, hitting $35.02. 588,547 shares of the stock were exchanged, compared to its average volume of 385,353. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50-day moving average of $34.88 and a 200-day moving average of $32.29. Hamilton Insurance Group has a fifty-two week low of $22.66 and a fifty-two week high of $37.31. The firm has a market capitalization of $3.45 billion, a P/E ratio of 6.70 and a beta of 0.36.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on Hamilton Insurance Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Citizens Jmp raised their price objective on Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a report on Wednesday, October 21st. Citigroup reiterated a “neutral” rating on shares of Hamilton Insurance Group in a research note on Wednesday, August 12th. Finally, Morgan Stanley decreased their price objective on shares of Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hamilton Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Insiders Place Their Bets

In related news, Director David Brown sold 50,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the completion of the sale, the director owned 400,000 shares in the company, valued at approximately $14,448,000. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Timothy Duffin sold 28,500 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $34.53, for a total value of $984,105.00. Following the transaction, the insider directly owned 223,459 shares of the company’s stock, valued at approximately $7,716,039.27. This trade represents a 11.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.02% of the stock is owned by company insiders.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.