Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 437,800 shares, an increase of 7.5% from the June 30th total of 407,400 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 361,700 shares, the short-interest ratio is currently 1.2 days.
Analysts Set New Price Targets
Several analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $21.00 target price (up from $20.00) on shares of Hamilton Insurance Group in a research note on Thursday, May 16th. JMP Securities increased their target price on Hamilton Insurance Group from $22.00 to $23.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 9th. Wells Fargo & Company lifted their price target on Hamilton Insurance Group from $16.00 to $19.00 and gave the company an "overweight" rating in a report on Friday, May 10th. Finally, Morgan Stanley cut their price objective on shares of Hamilton Insurance Group from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, April 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $20.00.
View Our Latest Report on Hamilton Insurance Group
Insider Activity at Hamilton Insurance Group
In other Hamilton Insurance Group news, Director Alan Neil Patterson bought 21,135 shares of the business's stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $16.66 per share, for a total transaction of $352,109.10. Following the completion of the transaction, the director now owns 21,135 shares in the company, valued at approximately $352,109.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Alan Neil Patterson purchased 21,135 shares of the company's stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $16.66 per share, with a total value of $352,109.10. Following the completion of the transaction, the director now owns 21,135 shares of the company's stock, valued at approximately $352,109.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian John Deegan sold 22,000 shares of the company's stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $16.70, for a total value of $367,400.00. Following the completion of the sale, the chief accounting officer now owns 18,957 shares in the company, valued at $316,581.90. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Hamilton Insurance Group
Hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of Hamilton Insurance Group during the 4th quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Hamilton Insurance Group during the second quarter valued at approximately $34,000. American International Group Inc. acquired a new position in shares of Hamilton Insurance Group during the first quarter worth $115,000. Fifth Lane Capital LP purchased a new position in shares of Hamilton Insurance Group in the first quarter valued at $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Hamilton Insurance Group in the second quarter valued at $156,000. Hedge funds and other institutional investors own 29.17% of the company's stock.
Hamilton Insurance Group Trading Down 3.3 %
Shares of Hamilton Insurance Group stock traded down $0.57 during trading hours on Thursday, reaching $16.86. The stock had a trading volume of 455,508 shares, compared to its average volume of 320,660. The firm has a market capitalization of $1.87 billion and a price-to-earnings ratio of 5.19. Hamilton Insurance Group has a 1 year low of $12.44 and a 1 year high of $18.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $16.59 and a two-hundred day simple moving average of $15.15.
Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.30. The firm had revenue of $658.65 million during the quarter, compared to the consensus estimate of $464.96 million. Hamilton Insurance Group had a net margin of 19.11% and a return on equity of 18.53%. As a group, equities research analysts anticipate that Hamilton Insurance Group will post 3.92 earnings per share for the current year.
About Hamilton Insurance Group
(Get Free Report)
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.
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