Hamilton Insurance Group (NYSE:HG) Reaches New 52-Week High – Here’s Why

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $31.85 and last traded at $31.8050, with a volume of 259992 shares traded. The stock had previously closed at $31.25.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research cut Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods lifted their price target on Hamilton Insurance Group from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley set a $28.00 price objective on Hamilton Insurance Group in a report on Tuesday, December 16th. Wells Fargo & Company raised their price objective on Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.29.

Hamilton Insurance Group Trading Up 1.7%

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 stock’s 50-day moving average is $28.31 and its two-hundred day moving average is $26.14. The company has a market cap of $3.13 billion, a P/E ratio of 5.70 and a beta of 0.70.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Thursday, February 19th. The company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.96. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.84%. As a group, equities research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Hamilton Insurance Group Announces Dividend

The company also recently announced a special dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 6th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, March 6th.

Institutional Trading of Hamilton Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Hamilton Insurance Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after buying an additional 737,084 shares in the last quarter. Donald Smith & CO. Inc. bought a new position in shares of Hamilton Insurance Group in the second quarter worth about $14,272,000. Freestone Grove Partners LP purchased a new stake in shares of Hamilton Insurance Group during the fourth quarter worth about $16,667,000. Millennium Management LLC raised its stake in Hamilton Insurance Group by 89.8% during the 4th quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock valued at $24,599,000 after purchasing an additional 417,261 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Hamilton Insurance Group by 101.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock valued at $17,490,000 after purchasing an additional 355,947 shares during the period. 29.17% of the stock is owned by hedge funds and other 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.