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

Hamilton Insurance Group, Ltd. (NYSE:HG) was the target of a significant growth in short interest in 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. Approximately 2.4% of the company’s stock are short sold. Based on an average daily volume of 612,400 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley downgraded 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 report on Monday, August 19th. JMP Securities upped 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 report on Thursday, August 8th. Keefe, Bruyette & Woods upped their price objective on shares of Hamilton Insurance Group from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Barclays assumed coverage on shares of Hamilton Insurance Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $26.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

Insiders Place Their Bets

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 17,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $19.18, for a total value of $335,650.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,824 shares in the company, valued at approximately $399,404.32. The trade was a 45.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in shares of Hamilton Insurance Group by 90.0% during the 3rd quarter. Franklin Resources Inc. now owns 99,190 shares of the company’s stock valued at $1,845,000 after buying an additional 46,978 shares in the last quarter. Barclays PLC lifted its position in shares of Hamilton Insurance Group by 845.0% during the 3rd quarter. Barclays PLC now owns 57,663 shares of the company’s stock valued at $1,114,000 after buying an additional 51,561 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Hamilton Insurance Group during the 3rd quarter valued at approximately $97,000. Geode Capital Management LLC lifted its position in shares of Hamilton Insurance Group by 136.5% during the 3rd quarter. Geode Capital Management LLC now owns 475,553 shares of the company’s stock valued at $9,197,000 after buying an additional 274,483 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Hamilton Insurance Group during the 3rd quarter valued at approximately $525,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Stock Performance

NYSE HG traded up $0.14 during trading hours on Wednesday, reaching $19.22. The stock had a trading volume of 148,535 shares, compared to its average volume of 427,852. The stock has a fifty day moving average of $18.44 and a 200 day moving average of $17.75. The stock has a market cap of $1.95 billion and a P/E ratio of 4.27. Hamilton Insurance Group has a 52-week low of $12.44 and a 52-week high of $20.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77.

Hamilton Insurance Group (NYSE:HG) last issued its earnings results on Wednesday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $512.84 million for the quarter, compared to analyst estimates of $515.96 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Sell-side analysts predict that Hamilton Insurance Group will post 4.03 earnings per share 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.