Hamilton Insurance Group, Ltd. (NYSE:HG – Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,660,000 shares, an increase of 18.6% from the September 30th total of 1,400,000 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average trading volume of 704,400 shares, the short-interest ratio is presently 2.4 days.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Hamilton Insurance Group by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 2,084,332 shares of the company’s stock worth $34,704,000 after purchasing an additional 313,417 shares during the last quarter. Acadian Asset Management LLC increased its position in Hamilton Insurance Group by 80.3% during the second quarter. Acadian Asset Management LLC now owns 496,981 shares of the company’s stock worth $8,265,000 after buying an additional 221,372 shares during the last quarter. Federated Hermes Inc. bought a new position in Hamilton Insurance Group during the second quarter valued at about $6,454,000. Renaissance Technologies LLC raised its holdings in Hamilton Insurance Group by 40.7% during the second quarter. Renaissance Technologies LLC now owns 357,800 shares of the company’s stock valued at $5,957,000 after buying an additional 103,426 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Hamilton Insurance Group by 22.8% in the second quarter. Sei Investments Co. now owns 250,725 shares of the company’s stock worth $4,175,000 after buying an additional 46,540 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company’s stock.
Analysts Set New Price Targets
HG has been the topic of several recent research reports. Barclays started coverage on shares of Hamilton Insurance Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $26.00 price objective on the stock. Keefe, Bruyette & Woods upped their target price on Hamilton Insurance Group from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley cut Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a research note on Monday, August 19th. Wells Fargo & Company boosted their price target on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, JMP Securities raised their price objective on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.43.
Hamilton Insurance Group Stock Up 1.6 %
Shares of NYSE HG traded up $0.28 during mid-day trading on Wednesday, reaching $17.65. The company had a trading volume of 213,650 shares, compared to its average volume of 430,095. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $1.80 billion and a price-to-earnings ratio of 4.26. The stock has a fifty day moving average of $18.73 and a two-hundred day moving average of $17.09. Hamilton Insurance Group has a 12-month low of $12.44 and a 12-month high of $20.71.
Hamilton Insurance Group (NYSE:HG – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.29. Hamilton Insurance Group had a net margin of 21.45% and a return on equity of 21.77%. The company had revenue of $587.94 million during the quarter, compared to the consensus estimate of $502.37 million. As a group, equities research analysts expect that Hamilton Insurance Group will post 4.12 EPS for the current 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.
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