Hamilton Insurance Group (NYSE:HG) Sets New 52-Week High – Time to Buy?

by · The Cerbat Gem

Hamilton Insurance Group, Ltd. (NYSE:HG – Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $27.94 and last traded at $27.8550, with a volume of 27138 shares changing hands. The stock had previously closed at $27.61.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HG shares. Wall Street Zen raised shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Citizens Jmp raised their price objective on shares of Hamilton Insurance Group from $31.00 to $32.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 5th. Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Barclays boosted their price objective on Hamilton Insurance Group from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Hamilton Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.63.

Read Our Latest Stock Analysis on HG

Hamilton Insurance Group Trading Up 1.1%

The firm has a market cap of $2.74 billion, a P/E ratio of 6.64 and a beta of 0.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a fifty day moving average of $25.49 and a 200-day moving average of $23.49.

Hamilton Insurance Group (NYSE:HG – Get Free Report) last issued its earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.61. The firm had revenue of $667.65 million for the quarter, compared to analyst estimates of $537.70 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%. Equities research analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current year.

Insider Activity

In other news, CEO Alexander James Baker sold 18,350 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $26.19, for a total transaction of $480,586.50. Following the completion of the transaction, the chief executive officer directly owned 84,136 shares in the company, valued at approximately $2,203,521.84. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.46% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

Several hedge funds have recently added to or reduced their stakes in the business. Polymer Capital Management US LLC bought a new position in shares of Hamilton Insurance Group in the third quarter worth $363,000. Mariner LLC raised its stake in shares of Hamilton Insurance Group by 107.3% during the third quarter. Mariner LLC now owns 57,687 shares of the company’s stock valued at $1,431,000 after purchasing an additional 29,856 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Hamilton Insurance Group in the third quarter worth about $245,000. Millennium Management LLC lifted its holdings in Hamilton Insurance Group by 2.9% in the third quarter. Millennium Management LLC now owns 464,406 shares of the company’s stock worth $11,517,000 after purchasing an additional 13,018 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in Hamilton Insurance Group in the 3rd quarter valued at about $3,962,000. Institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Company Profile

(Get Free Report)

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.

Read More