Hamilton Insurance Group, Ltd. (NYSE:HG) Sees Significant Increase in Short Interest

Hamilton Insurance Group, Ltd. (NYSE:HG) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 1,330,000 shares, a growth of 5.6% from the December 31st total of 1,260,000 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 413,400 shares, the short-interest ratio is presently 3.2 days.

Insiders Place Their Bets

In related news, CAO Brian John Deegan sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $19.18, for a total transaction of $335,650.00. Following the completion of the transaction, the chief accounting officer now owns 20,824 shares in the company, valued at $399,404.32. The trade was a 45.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quarry LP grew its position in shares of Hamilton Insurance Group by 448.5% in the third quarter. Quarry LP now owns 1,640 shares of the company’s stock valued at $32,000 after purchasing an additional 1,341 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of Hamilton Insurance Group during the 3rd quarter worth approximately $34,000. Spire Wealth Management purchased a new stake in shares of Hamilton Insurance Group in the fourth quarter valued at approximately $38,000. Bfsg LLC acquired a new stake in shares of Hamilton Insurance Group in the fourth quarter valued at approximately $77,000. Finally, Toronto Dominion Bank purchased a new position in Hamilton Insurance Group during the third quarter worth approximately $97,000. Institutional investors and hedge funds own 29.17% of the company’s stock.

Hamilton Insurance Group Price Performance

Shares of NYSE HG opened at $18.83 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group has a 52 week low of $12.44 and a 52 week high of $20.71. The business’s 50 day moving average price is $19.02 and its 200 day moving average price is $18.51. The firm has a market cap of $1.91 billion, a P/E ratio of 4.21 and a beta of 1.02.

Hamilton Insurance Group (NYSE:HG) last issued its earnings results on Wednesday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $512.84 million for the quarter, compared to the consensus estimate of $515.96 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, sell-side analysts expect that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HG shares. Wells Fargo & Company upped their price objective on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays cut their price target on shares of Hamilton Insurance Group from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hamilton Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $22.20.

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.