Hamilton Insurance Group (NYSE:HG) Issues Earnings Results

Hamilton Insurance Group (NYSE:HG) posted its earnings results on Wednesday. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.29, Zacks reports. The company had revenue of $587.94 million for the quarter, compared to the consensus estimate of $502.37 million. Hamilton Insurance Group had a return on equity of 18.53% and a net margin of 19.11%.

Hamilton Insurance Group Price Performance

NYSE:HG traded up $0.52 during trading hours on Friday, reaching $17.18. 350,109 shares of the company traded hands, compared to its average volume of 329,900. The firm’s 50-day moving average is $16.50 and its 200-day moving average is $15.20. The stock has a market cap of $1.91 billion and a P/E ratio of 5.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.83 and a quick ratio of 0.83. Hamilton Insurance Group has a 1-year low of $12.44 and a 1-year high of $18.07.

Insider Buying and Selling at Hamilton Insurance Group

In related news, Director Alan Neil Patterson bought 21,135 shares of the stock in a transaction on Thursday, May 16th. The shares were purchased at an average price of $16.66 per share, for a total transaction of $352,109.10. Following the acquisition, the director now owns 21,135 shares in the company, valued at $352,109.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hamilton Insurance Group news, Director Alan Neil Patterson acquired 21,135 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of $16.66 per share, for a total transaction of $352,109.10. Following the completion of the acquisition, the director now directly owns 21,135 shares of the company’s stock, valued at $352,109.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Brian John Deegan sold 22,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $16.70, for a total value of $367,400.00. Following the sale, the chief accounting officer now owns 18,957 shares in the company, valued at approximately $316,581.90. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Analysts Set New Price Targets

HG has been the subject of several analyst reports. Morgan Stanley lowered their target price on Hamilton Insurance Group from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Wells Fargo & Company upped their price objective on Hamilton Insurance Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday. JMP Securities upped their price objective on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $21.00 price objective (up from $20.00) on shares of Hamilton Insurance Group in a research report on Thursday, May 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $20.50.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.