Hamilton Insurance Group, Ltd. (NYSE:HG) Short Interest Update

Hamilton Insurance Group, Ltd. (NYSE:HG) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,310,000 shares, an increase of 10.1% from the October 31st total of 1,190,000 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 612,400 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays assumed coverage on shares of Hamilton Insurance Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $26.00 target price on the stock. JMP Securities lifted their price objective on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Thursday, August 8th. Morgan Stanley cut shares of Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock. in a research report on Monday, August 19th. Wells Fargo & Company lifted their price objective on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Hamilton Insurance Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.43.

Insider Activity

In related news, CAO Brian John Deegan sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $19.18, for a total value of $335,650.00. Following the transaction, the chief accounting officer now owns 20,824 shares of the company’s stock, valued at approximately $399,404.32. This trade represents a 45.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

Large investors have recently made changes to their positions in the stock. Quarry LP boosted its stake in shares of Hamilton Insurance Group by 448.5% during the third quarter. Quarry LP now owns 1,640 shares of the company’s stock valued at $32,000 after purchasing an additional 1,341 shares during the period. Financial Management Professionals Inc. purchased a new stake in Hamilton Insurance Group in the third quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Hamilton Insurance Group in the second quarter worth about $34,000. Toronto Dominion Bank purchased a new stake in Hamilton Insurance Group in the third quarter worth about $97,000. Finally, US Bancorp DE purchased a new stake in Hamilton Insurance Group in the third quarter worth about $107,000. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Price Performance

HG traded up $0.14 during trading hours on Wednesday, hitting $19.22. The company’s stock had a trading volume of 148,535 shares, compared to its average volume of 427,852. The business’s 50-day moving average price is $18.44 and its 200-day moving average price is $17.75. Hamilton Insurance Group has a 12 month low of $12.44 and a 12 month high of $20.71. The stock has a market cap of $1.95 billion and a price-to-earnings ratio of 4.27. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $512.84 million during the quarter, compared to analyst estimates of $515.96 million. Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. During the same period in the previous year, the firm earned $0.41 earnings per share. Sell-side analysts expect that Hamilton Insurance Group will post 4.03 earnings per share for the current fiscal year.

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.