Hamilton Insurance Group, Ltd.’s (NYSE:HG) Lock-Up Period Set To End on May 8th

Hamilton Insurance Group’s (NYSE:HG) lock-up period is set to end on Wednesday, May 8th. Hamilton Insurance Group had issued 15,000,000 shares in its initial public offering on November 10th. The total size of the offering was $225,000,000 based on an initial share price of $15.00. After the expiration of Hamilton Insurance Group’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HG. Morgan Stanley cut their price target on Hamilton Insurance Group from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company upgraded shares of Hamilton Insurance Group from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a research note on Thursday, April 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $22.00 price target on shares of Hamilton Insurance Group in a research note on Monday, April 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Hamilton Insurance Group has an average rating of “Buy” and an average price target of $19.00.

Hamilton Insurance Group Stock Down 1.2 %

Shares of NYSE HG opened at $14.09 on Friday. The business’s 50-day simple moving average is $13.68. Hamilton Insurance Group has a 1 year low of $12.44 and a 1 year high of $16.35. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.07.

Hamilton Insurance Group (NYSE:HG) last issued its earnings results on Wednesday, March 6th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.58. The business had revenue of $495.16 million for the quarter, compared to analyst estimates of $412.55 million. Equities research analysts anticipate that Hamilton Insurance Group will post 3.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Hamilton Insurance Group during the fourth quarter worth approximately $25,000. Fifth Lane Capital LP acquired a new stake in Hamilton Insurance Group during the 1st quarter worth $151,000. Oxford Asset Management LLP acquired a new stake in shares of Hamilton Insurance Group during the fourth quarter worth about $199,000. Belfer Management LLC purchased a new position in shares of Hamilton Insurance Group during the fourth quarter worth about $352,000. Finally, Russell Investments Group Ltd. acquired a new position in Hamilton Insurance Group in the 4th quarter valued at about $477,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.

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.