Hamilton Insurance Group (NYSE:HG) Issues Earnings Results, Beats Estimates By $0.88 EPS

Hamilton Insurance Group (NYSE:HG) issued its quarterly earnings data on Thursday. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.88, FiscalAI reports. Hamilton Insurance Group had a net margin of 19.56% and a return on equity of 22.60%. The company had revenue of $828.04 million for the quarter, compared to the consensus estimate of $693.46 million.

Hamilton Insurance Group Stock Performance

HG traded down $0.30 during midday trading on Thursday, reaching $34.38. The company had a trading volume of 827,815 shares, compared to its average volume of 361,093. The business has a 50-day moving average of $34.87 and a two-hundred day moving average of $32.25. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group has a 1 year low of $22.66 and a 1 year high of $37.31. The company has a market cap of $3.39 billion, a P/E ratio of 5.99 and a beta of 0.36.

Insider Transactions at Hamilton Insurance Group

In other news, Director David Brown sold 50,000 shares of Hamilton Insurance Group stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the transaction, the director directly owned 400,000 shares of the company’s stock, valued at $14,448,000. The trade was a 11.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy Duffin sold 28,500 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $34.53, for a total value of $984,105.00. Following the transaction, the insider owned 223,459 shares of the company’s stock, valued at approximately $7,716,039.27. This trade represents a 11.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citizens Jmp lifted their target price on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Weiss Ratings raised Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a report on Wednesday, October 21st. Morgan Stanley dropped their price target on Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods lifted their price objective on Hamilton Insurance Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, Barclays upped their price objective on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.