Hamilton Insurance Group (NYSE:HG) Hits New 52-Week High – Here’s What Happened

Shares of Hamilton Insurance Group, Ltd. (NYSE:HG) hit a new 52-week high on Wednesday . The stock traded as high as $31.68 and last traded at $31.0750, with a volume of 21059 shares traded. The stock had previously closed at $31.41.

Analysts Set New Price Targets

Several research firms have recently weighed in on HG. Wells Fargo & Company lifted their price objective on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Citigroup reiterated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Wednesday, November 5th. Citizens Jmp set a $32.00 target price on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Thursday, January 22nd. Finally, Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.57.

Hamilton Insurance Group Trading Down 1.6%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a 50-day moving average of $27.99 and a 200-day moving average of $25.80. The firm has a market capitalization of $3.04 billion, a P/E ratio of 7.35 and a beta of 0.70.

Institutional Investors Weigh In On Hamilton Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Hamilton Insurance Group by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after purchasing an additional 737,084 shares during the period. Donald Smith & CO. Inc. purchased a new stake in shares of Hamilton Insurance Group during the 2nd quarter valued at about $14,272,000. Freestone Grove Partners LP purchased a new position in shares of Hamilton Insurance Group during the fourth quarter valued at approximately $16,667,000. Millennium Management LLC lifted its stake in shares of Hamilton Insurance Group by 89.8% in the 4th quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock worth $24,599,000 after purchasing an additional 417,261 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Hamilton Insurance Group by 101.9% in the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock worth $17,490,000 after buying an additional 355,947 shares during the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.