Hamilton Insurance Group (NYSE:HG) Releases Quarterly Earnings Results, Beats Estimates By $0.36 EPS

Hamilton Insurance Group (NYSE:HG) announced its quarterly earnings results on Thursday. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.20 by $0.36, Zacks reports. The business had revenue of $839.58 million for the quarter, compared to analyst estimates of $599.26 million. Hamilton Insurance Group had a return on equity of 22.78% and a net margin of 19.56%.

Hamilton Insurance Group Stock Up 1.0%

NYSE:HG traded up $0.36 during mid-day trading on Friday, hitting $35.91. The stock had a trading volume of 462,991 shares, compared to its average volume of 439,885. Hamilton Insurance Group has a twelve month low of $22.31 and a twelve month high of $37.31. The stock has a 50-day simple moving average of $33.46 and a two-hundred day simple moving average of $31.32. 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 company has a market capitalization of $3.57 billion, a PE ratio of 6.26 and a beta of 0.33.

Insider Activity at Hamilton Insurance Group

In other news, Director David A. Brown sold 37,300 shares of Hamilton Insurance Group stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the completion of the sale, the director directly owned 450,000 shares of the company’s stock, valued at approximately $14,472,000. The trade was a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total transaction of $185,955.75. Following the transaction, the treasurer owned 39,629 shares of the company’s stock, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,075 shares of company stock valued at $1,789,638 in the last quarter. 3.02% of the stock is currently owned by company insiders.

Institutional Trading of Hamilton Insurance Group

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in shares of Hamilton Insurance Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock valued at $84,000 after purchasing an additional 410 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Hamilton Insurance Group during the 4th quarter worth approximately $25,000. Corient Private Wealth LLC grew its stake in Hamilton Insurance Group by 8.5% during the 4th quarter. Corient Private Wealth LLC now owns 12,095 shares of the company’s stock worth $337,000 after buying an additional 950 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Hamilton Insurance Group by 1.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,126 shares of the company’s stock worth $1,845,000 after buying an additional 1,057 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in Hamilton Insurance Group by 11.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,990 shares of the company’s stock worth $307,000 after buying an additional 1,093 shares during the period. 29.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on shares of Hamilton Insurance Group from $34.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. UBS Group set a $33.00 price target on shares of Hamilton Insurance Group in a research report on Thursday, May 21st. Wall Street Zen raised shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Barclays upped their price objective on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.62.

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.