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

Hamilton Insurance Group, Ltd. (NYSE:HG) shares reached a new 52-week high during trading on Monday . The company traded as high as $36.48 and last traded at $36.34, with a volume of 18888 shares trading hands. The stock had previously closed at $36.16.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HG shares. Morgan Stanley upped their price target on Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Zacks Research lowered Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. 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. Wall Street Zen raised shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, UBS Group set a $33.00 price target on shares of Hamilton Insurance Group in a research note on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Hamilton Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

Hamilton Insurance Group Price Performance

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 cap of $3.69 billion, a PE ratio of 6.08 and a beta of 0.35. The firm has a 50 day moving average of $32.74 and a two-hundred day moving average of $30.83.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The company had revenue of $758.91 million during the quarter, compared to analyst estimates of $933.90 million. Research analysts predict that Hamilton Insurance Group, Ltd. will post 4.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Brian John Deegan sold 11,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total value of $337,590.00. Following the transaction, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. The trade was a 13.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David A. Brown sold 37,300 shares of the stock in a transaction dated 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 sale, the director directly owned 450,000 shares in the company, valued at $14,472,000. This trade represents a 7.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 70,105 shares of company stock worth $2,220,158 over the last three months. 3.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Hamilton Insurance Group by 15.8% during the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock valued at $84,000 after buying an additional 410 shares during the last quarter. Parallel Advisors LLC lifted its position in Hamilton Insurance Group by 20.0% in the 1st quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock valued at $131,000 after acquiring an additional 735 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Hamilton Insurance Group during the 4th quarter valued at $25,000. CWM LLC boosted its stake in Hamilton Insurance Group by 4.2% during the 4th quarter. CWM LLC now owns 22,594 shares of the company’s stock valued at $630,000 after purchasing an additional 919 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Hamilton Insurance Group by 112.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares in the last quarter. Institutional investors 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.