Hamilton Insurance Group (NYSE:HG) Sets New 52-Week High – Here’s What Happened

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price reached a new 52-week high during trading on Tuesday. The company traded as high as $38.39 and last traded at $38.38, with a volume of 207,501 shares traded. The stock had previously closed at $37.36.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HG shares. Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 29th. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley dropped their target price on Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Weiss Ratings upgraded shares of Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company increased their price target on shares of Hamilton Insurance Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.62.

Hamilton Insurance Group Trading Up 3.2%

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.80 billion, a PE ratio of 7.36 and a beta of 0.33. The company has a fifty day simple moving average of $35.09 and a two-hundred day simple moving average of $32.60.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.87. Hamilton Insurance Group had a return on equity of 24.05% and a net margin of 16.83%. The business had revenue of $828.04 million during the quarter, compared to analysts’ expectations of $693.46 million. Analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.90 EPS for the current year.

Insider Activity at Hamilton Insurance Group

In related news, insider Timothy Duffin sold 28,500 shares of Hamilton Insurance Group stock in a transaction that occurred 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 completion of the transaction, the insider owned 223,459 shares in the company, valued at $7,716,039.27. The trade was a 11.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Brown sold 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 400,000 shares of the company’s stock, valued at $14,448,000. This trade represents a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC purchased a new stake in Hamilton Insurance Group during the second quarter worth approximately $34,000. Allworth Financial LP increased its stake in Hamilton Insurance Group by 45.8% in the second quarter. Allworth Financial LP now owns 1,407 shares of the company’s stock valued at $48,000 after purchasing an additional 442 shares during the last quarter. KBC Group NV acquired a new stake in Hamilton Insurance Group during the first quarter worth approximately $65,000. Parallel Advisors LLC raised its holdings in Hamilton Insurance Group by 20.0% during the first quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock worth $131,000 after purchasing an additional 735 shares in the last quarter. Finally, MGO One Seven LLC purchased a new stake in shares of Hamilton Insurance Group during the 3rd quarter worth approximately $210,000. Institutional investors and hedge funds own 29.17% of the company’s stock.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group is a global specialty insurance and reinsurance company headquartered in Bermuda. Founded in 2013, it operates through businesses in Bermuda, the United States and the United Kingdom. The company underwrites a range of property, casualty and specialty risks, offering insurance and reinsurance products to businesses and other clients. Its operations include Hamilton Re in Bermuda, Hamilton Global Specialty in London and Hamilton Select in the United States. Pina Albo became Hamilton Insurance Group’s chief executive officer in 2023.