Hamilton Insurance Group (NYSE:HG) Posts Earnings Results, Beats Expectations By $0.96 EPS

Hamilton Insurance Group (NYSE:HG) posted its quarterly earnings results on Thursday. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.96, FiscalAI reports. The company had revenue of $728.33 million for the quarter, compared to the consensus estimate of $621.00 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%.

Hamilton Insurance Group Stock Performance

Hamilton Insurance Group stock traded up $0.98 during midday trading on Friday, reaching $30.29. 204,442 shares of the company traded hands, compared to its average volume of 560,436. Hamilton Insurance Group has a 12 month low of $16.80 and a 12 month high of $31.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50 day moving average of $28.09 and a two-hundred day moving average of $25.86. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 7.17 and a beta of 0.70.

Hamilton Insurance Group Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 6th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, March 6th.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley set a $28.00 target price on Hamilton Insurance Group in a research note on Tuesday, December 16th. Barclays reiterated an “overweight” rating and issued a $35.00 price target on shares of Hamilton Insurance Group in a research note on Friday. Citizens Jmp increased their price objective on shares of Hamilton Insurance Group from $32.00 to $35.00 and gave the company a “market outperform” rating in a research report on Friday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $26.00 target price on shares of Hamilton Insurance Group in a report on Tuesday, December 23rd. Finally, Zacks Research downgraded shares of Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Hamilton Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $30.43.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Hamilton Insurance Group by 16.7% in the fourth quarter. Invesco Ltd. now owns 40,237 shares of the company’s stock worth $1,123,000 after acquiring an additional 5,756 shares during the period. Corient Private Wealth LLC lifted its holdings in Hamilton Insurance Group by 8.5% in the fourth quarter. Corient Private Wealth LLC now owns 12,095 shares of the company’s stock valued at $337,000 after acquiring an additional 950 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Hamilton Insurance Group by 11.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,990 shares of the company’s stock worth $307,000 after purchasing an additional 1,093 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Hamilton Insurance Group by 13.0% during the 4th quarter. Mackenzie Financial Corp now owns 23,424 shares of the company’s stock valued at $652,000 after purchasing an additional 2,691 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in shares of Hamilton Insurance Group by 18.8% during the 4th quarter. Voloridge Investment Management LLC now owns 230,328 shares of the company’s stock valued at $6,426,000 after purchasing an additional 36,472 shares during the period. 29.17% of the stock is owned by institutional investors.

About Hamilton Insurance Group

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.