Hamilton Insurance Group, Ltd. (NYSE:HG – Get Free Report) stock rose in pre-market trading on Thursday after the company reported better-than-expected quarterly results. The stock had previously closed at $15.47 but opened at $17.40. Hamilton Insurance Group shares were last seen trading at $16.64 on volume of 50,226 shares.
The company reported earnings per share of $1.20 for the quarter, beating the consensus estimate of $0.91 by $0.29. The company had revenue of $587.94 million for the quarter, compared to analyst expectations of $502.37 million. Hamilton Insurance Group posted a return on equity of 18.53% and a net margin of 19.11%.
Analysts set new price targets
Several equities analysts have commented on the company. JMP Securities increased their price target on Hamilton Insurance Group from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Thursday. Wells Fargo & Company increased their price target on Hamilton Insurance Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley decreased their price target on Hamilton Insurance Group from $21.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, April 15. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $21.00 price target (previously $20.00) on shares of Hamilton Insurance Group in a report on Thursday, May 16. Six research analysts have rated the stock with a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $20.50.
Check out our latest report on HG
Insider buying and selling
In other Hamilton Insurance Group news, Director Alan Neil Patterson bought 21,135 shares of the company’s stock in a transaction that occurred on Thursday, May 16. The shares were bought at an average price of $16.66 per share, for a total value of $352,109.10. Following the purchase, the director now owns 21,135 shares of the company’s stock, valued at $352,109.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. In other Hamilton Insurance Group news, Director Alan Neil Patterson bought 21,135 shares of the company’s stock in a transaction that occurred on Thursday, May 16. The shares were bought at an average price of $16.66 per share, for a total value of $352,109.10. Following the purchase, the director now owns 21,135 shares of the company’s stock, valued at $352,109.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, CAO Brian John Deegan sold 22,000 shares of Hamilton Insurance Group stock on Thursday, May 16. The shares were sold at an average price of $16.70, for a total value of $367,400.00. Following the sale, the Chief Accounting Officer now directly owns 18,957 shares of the company’s stock, valued at $316,581.90. The disclosure regarding this sale can be found here. 2.70% of the shares are owned by company insiders.
Institutional investors comment on Hamilton Insurance Group
A number of institutional investors and hedge funds have recently bought and sold shares of HG. Newbridge Financial Services Group Inc. bought a new position in shares of Hamilton Insurance Group during the 4th quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Hamilton Insurance Group during the 2nd quarter worth $34,000. American International Group Inc. bought a new position in shares of Hamilton Insurance Group during the 1st quarter worth $115,000. Fifth Lane Capital LP bought a new position in shares of Hamilton Insurance Group during the 1st quarter worth $151,000. Finally, Zürcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Hamilton Insurance Group during the 2nd quarter worth $156,000. 29.17% of the shares are owned by institutional investors.
Hamilton Insurance Group: Close of trading up 3.1%
The company has a 50 day moving average price of $16.50 and a 200 day moving average price of $15.20. 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 stock has a market cap of $1.91 billion and a P/E ratio of 5.22.
About Hamilton Insurance Group
(Get free report)
Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting of specialty insurance and reinsurance risks in Bermuda and internationally. The Company operates the Hamilton Global Specialty, Hamilton Select and Hamilton Re underwriting platforms. The Company offers liability reinsurance products including commercial auto, general liability, health, multi-line, personal auto, professional liability, excess liability and workers’ compensation, and employers’ liability reinsurance; property reinsurance and insurance, and specialty reinsurance solutions including accident and health, aviation and space, crisis management, mortgage, financial services, marine and energy, and multi-line specialty.
More stories
Get daily news and reviews about Hamilton Insurance Group – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Hamilton Insurance Group and related companies with MarketBeat.com’s FREE daily email newsletter.
