Hamilton Insurance Group (NYSE:HG) Hits New 1-Year High – Should You Buy?

Hamilton Insurance Group, Ltd. (NYSE:HG) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.71 and last traded at $34.3880, with a volume of 529615 shares traded. The stock had previously closed at $34.44.

Wall Street Analyst Weigh In

HG has been the subject of a number of research reports. Weiss Ratings upgraded shares of Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 12th. UBS Group set a $33.00 target price on shares of Hamilton Insurance Group in a report on Thursday, May 21st. Citigroup reiterated an “outperform” rating on shares of Hamilton Insurance Group in a report on Friday, May 1st. Wells Fargo & Company raised their price target on shares of Hamilton Insurance Group from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Barclays boosted their price target on shares of Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.12.

Hamilton Insurance Group Trading Up 2.2%

The firm has a market cap of $3.43 billion, a PE ratio of 5.65 and a beta of 0.35. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $31.59 and a 200 day moving average price of $29.98.

Hamilton Insurance Group (NYSE:HG) last posted its earnings results on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.56. The firm had revenue of $758.91 million during the quarter, compared to analysts’ expectations of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. Analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Insiders Place Their Bets

In other news, Director David A. Brown sold 37,300 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.16, for a total value of $1,199,568.00. Following the completion of the transaction, the director owned 450,000 shares in the company, valued at approximately $14,472,000. This represents a 7.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $185,955.75. Following the completion of the transaction, the treasurer directly owned 39,629 shares in the company, valued at $1,213,043.69. This trade represents a 13.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in shares of Hamilton Insurance Group by 186.0% during the first quarter. AQR Capital Management LLC now owns 57,399 shares of the company’s stock worth $1,190,000 after purchasing an additional 37,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Hamilton Insurance Group by 9.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock valued at $510,000 after purchasing an additional 2,071 shares during the period. Millennium Management LLC boosted its position in shares of Hamilton Insurance Group by 9.7% in the 1st quarter. Millennium Management LLC now owns 442,820 shares of the company’s stock valued at $9,180,000 after purchasing an additional 39,020 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Hamilton Insurance Group by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock valued at $5,797,000 after purchasing an additional 20,926 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Hamilton Insurance Group by 87.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company’s stock worth $1,777,000 after buying an additional 39,927 shares during the last quarter. Institutional investors and hedge funds own 29.17% of the company’s stock.

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.