Hamilton Insurance Group (NYSE:HG) Sees Unusually-High Trading Volume – Here’s What Happened

Hamilton Insurance Group, Ltd. (NYSE:HG) shares saw unusually-high trading volume on Monday . Approximately 1,277,887 shares changed hands during trading, an increase of 174% from the previous session’s volume of 466,466 shares.The stock last traded at $18.51 and had previously closed at $18.53.

Analyst Ratings Changes

A number of equities analysts have commented on HG shares. Barclays cut their price objective on shares of Hamilton Insurance Group from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company upped 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Hamilton Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $22.20.

Hamilton Insurance Group Trading Up 0.1 %

The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 4.15 and a beta of 1.03. The business’s fifty day simple moving average is $18.59 and its 200 day simple moving average is $18.09. 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 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. The company had revenue of $512.84 million during the quarter, compared to the consensus estimate of $515.96 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, research analysts predict that Hamilton Insurance Group, Ltd. will post 4.03 EPS for the current year.

Insider Activity

In other news, CAO Brian John Deegan sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $19.18, for a total transaction 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

Several hedge funds have recently added to or reduced their stakes in HG. Wellington Management Group LLP lifted its holdings in Hamilton Insurance Group by 198.2% in the third quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock worth $71,859,000 after purchasing an additional 2,469,422 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Hamilton Insurance Group by 538.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock worth $16,677,000 after acquiring an additional 727,242 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Hamilton Insurance Group in the third quarter valued at approximately $9,419,000. Federated Hermes Inc. acquired a new position in shares of Hamilton Insurance Group during the second quarter valued at approximately $6,454,000. Finally, American Century Companies Inc. raised its holdings in Hamilton Insurance Group by 17.7% during the second 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 in the last quarter. Institutional investors own 29.17% of the company’s stock.

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.