Hamilton Insurance Group (NYSE:HG) Shares Up 6.8% – Here’s Why

Hamilton Insurance Group, Ltd. (NYSE:HG) shares were up 6.8% during mid-day trading on Thursday . The company traded as high as $19.71 and last traded at $19.66. Approximately 191,985 shares traded hands during trading, a decline of 53% from the average daily volume of 405,680 shares. The stock had previously closed at $18.41.

Wall Street Analysts Forecast Growth

Separately, Barclays set a $25.00 target price on shares of Hamilton Insurance Group and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.40.

Hamilton Insurance Group Stock Performance

The stock has a 50 day moving average of $18.86 and a two-hundred day moving average of $18.73. The stock has a market capitalization of $1.96 billion, a PE ratio of 4.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77.

Hamilton Insurance Group (NYSE:HG) last issued its earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.44). The company had revenue of $543.94 million for the quarter, compared to analysts’ expectations of $460.17 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. Research analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Hamilton Insurance Group by 198.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock worth $71,859,000 after acquiring an additional 2,469,422 shares during the period. JPMorgan Chase & Co. boosted its position in Hamilton Insurance Group by 538.4% during the third quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock worth $16,677,000 after purchasing an additional 727,242 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Hamilton Insurance Group by 19.7% in the fourth quarter. Lazard Asset Management LLC now owns 811,166 shares of the company’s stock valued at $15,435,000 after purchasing an additional 133,646 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Hamilton Insurance Group by 31.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 642,260 shares of the company’s stock valued at $12,222,000 after buying an additional 155,228 shares in the last quarter. Finally, Private Management Group Inc. acquired a new position in shares of Hamilton Insurance Group during the 4th quarter worth $10,511,000. 29.17% of the stock is owned by hedge funds and other institutional investors.

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.