Hamilton Insurance Group (NYSE:HG) Reaches New 12-Month High – Should You Buy?

Hamilton Insurance Group, Ltd. (NYSE:HG)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $28.72 and last traded at $28.5630, with a volume of 155233 shares traded. The stock had previously closed at $28.37.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HG shares. Morgan Stanley set a $28.00 target price on Hamilton Insurance Group in a research note on Tuesday, December 16th. Barclays lifted their price target on Hamilton Insurance Group from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Keefe, Bruyette & Woods lifted their target price on shares of Hamilton Insurance Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $26.00 price target on shares of Hamilton Insurance Group in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.13.

Hamilton Insurance Group Stock Performance

The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.81 billion, a P/E ratio of 6.81 and a beta of 0.69. The business has a fifty day moving average of $26.00 and a 200 day moving average of $23.84.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.61. The business had revenue of $667.65 million for the quarter, compared to analysts’ expectations of $537.70 million. Hamilton Insurance Group had a net margin of 15.95% and a return on equity of 15.07%. On average, equities analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In related news, CEO Alexander James Baker sold 18,350 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $26.19, for a total transaction of $480,586.50. Following the transaction, the chief executive officer owned 84,136 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of Hamilton Insurance Group by 4.0% in the 1st quarter. Invesco Ltd. now owns 25,442 shares of the company’s stock worth $527,000 after acquiring an additional 987 shares in the last quarter. Corebridge Financial Inc. grew its stake in Hamilton Insurance Group by 3.1% in the first quarter. Corebridge Financial Inc. now owns 20,297 shares of the company’s stock worth $421,000 after purchasing an additional 616 shares during the period. Trexquant Investment LP raised its holdings in Hamilton Insurance Group by 94.1% in the first quarter. Trexquant Investment LP now owns 223,166 shares of the company’s stock worth $4,626,000 after purchasing an additional 108,218 shares in the last quarter. New Vernon Investment Management LLC lifted its position in Hamilton Insurance Group by 65.5% during the first quarter. New Vernon Investment Management LLC now owns 73,891 shares of the company’s stock valued at $1,532,000 after buying an additional 29,248 shares during the period. Finally, Dark Forest Capital Management LP lifted its position in Hamilton Insurance Group by 983.7% during the first quarter. Dark Forest Capital Management LP now owns 177,162 shares of the company’s stock valued at $3,673,000 after buying an additional 160,814 shares during the period. Hedge funds and other institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.