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

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

Hamilton Insurance Group Price Performance

Shares of Hamilton Insurance Group stock traded down $0.11 during trading on Monday, reaching $18.97. 317,945 shares of the stock traded hands, compared to its average volume of 429,236. The business has a fifty day simple moving average of $18.42 and a two-hundred day simple moving average of $17.72. Hamilton Insurance Group has a 52-week low of $12.44 and a 52-week high of $20.71. The company has a market capitalization of $1.92 billion and a price-to-earnings ratio of 4.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77.

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

Analyst Upgrades and Downgrades

HG has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley cut shares of Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a research note on Monday, August 19th. Keefe, Bruyette & Woods upped their price target on shares of Hamilton Insurance Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Barclays began coverage on shares of Hamilton Insurance Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $26.00 price objective on the stock. Finally, JMP Securities upped their target price on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

Insider Buying and Selling

In other news, CAO Brian John Deegan sold 17,500 shares of Hamilton Insurance Group stock in a transaction on Monday, November 25th. The shares were sold at an average price of $19.18, for a total transaction of $335,650.00. Following the transaction, the chief accounting officer now owns 20,824 shares in the company, valued at $399,404.32. This trade represents a 45.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Hamilton Insurance Group

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in Hamilton Insurance Group by 198.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock valued at $71,859,000 after buying an additional 2,469,422 shares during the period. American Century Companies Inc. raised its stake in shares of Hamilton Insurance Group by 17.7% in the second quarter. American Century Companies Inc. now owns 2,084,332 shares of the company’s stock valued at $34,704,000 after acquiring an additional 313,417 shares during the period. State Street Corp lifted its holdings in shares of Hamilton Insurance Group by 133.3% in the 3rd quarter. State Street Corp now owns 532,632 shares of the company’s stock worth $10,301,000 after acquiring an additional 304,371 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Hamilton Insurance Group by 80.3% during the 2nd quarter. Acadian Asset Management LLC now owns 496,981 shares of the company’s stock worth $8,265,000 after purchasing an additional 221,372 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Hamilton Insurance Group during the 3rd quarter valued at about $9,419,000. 29.17% of the stock is currently owned by institutional investors.

About Hamilton Insurance Group

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.