Hamilton Insurance Group (NYSE:HG) Sets New 52-Week High – Time to Buy?

Shares of Hamilton Insurance Group, Ltd. (NYSE:HG) reached a new 52-week high on Thursday . The company traded as high as $21.50 and last traded at $19.77, with a volume of 302 shares traded. The stock had previously closed at $19.72.

Wall Street Analyst Weigh In

A number of research firms have commented on HG. Wells Fargo & Company increased their price objective on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays dropped their target price on shares of Hamilton Insurance Group from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Hamilton Insurance Group Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day moving average of $19.02 and a 200 day moving average of $18.48. The stock has a market capitalization of $1.93 billion, a P/E ratio of 4.27 and a beta of 1.03.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $512.84 million for the quarter, compared to analyst estimates of $515.96 million. Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. During the same quarter last year, the business earned $0.41 earnings per share. Equities analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 17,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $19.18, for a total transaction of $335,650.00. Following the transaction, the chief accounting officer now owns 20,824 shares of the company’s stock, valued at approximately $399,404.32. This trade represents a 45.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by company insiders.

Institutional Trading of Hamilton Insurance Group

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in Hamilton Insurance Group by 176.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 110,794 shares of the company’s stock worth $2,143,000 after acquiring an additional 70,732 shares in the last quarter. Barclays PLC raised its holdings in shares of Hamilton Insurance Group by 845.0% in the 3rd quarter. Barclays PLC now owns 57,663 shares of the company’s stock worth $1,114,000 after purchasing an additional 51,561 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Hamilton Insurance Group during the third quarter worth approximately $525,000. Geode Capital Management LLC boosted its holdings in Hamilton Insurance Group by 136.5% during the third quarter. Geode Capital Management LLC now owns 475,553 shares of the company’s stock worth $9,197,000 after buying an additional 274,483 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Hamilton Insurance Group by 90.0% in the third quarter. Franklin Resources Inc. now owns 99,190 shares of the company’s stock valued at $1,845,000 after buying an additional 46,978 shares in the last quarter. 29.17% of the stock is owned by institutional investors and hedge funds.

About Hamilton Insurance Group

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.