Hamilton Insurance Group, Ltd. (NYSE:HG) Sees Large Growth in Short Interest

Hamilton Insurance Group, Ltd. (NYSE:HG) saw a large growth in short interest during 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 stock are short sold.

Hamilton Insurance Group Stock Up 0.8 %

Shares of HG traded up $0.16 during midday trading on Wednesday, reaching $19.24. 142,361 shares of the stock were exchanged, compared to its average volume of 427,816. Hamilton Insurance Group has a 52 week low of $12.44 and a 52 week high of $20.71. The company’s 50 day moving average is $18.44 and its two-hundred day moving average is $17.75. The company has a market capitalization of $1.95 billion and a P/E ratio of 4.27. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $515.96 million. During the same quarter last year, the firm earned $0.41 EPS. On average, sell-side analysts anticipate that Hamilton Insurance Group will post 4.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HG shares. Barclays started coverage on Hamilton Insurance Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $26.00 price target on the stock. Keefe, Bruyette & Woods upped their price target 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 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 boosted 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 research report on Thursday, August 8th. Finally, Wells Fargo & Company boosted their price target on Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

Insider Transactions at Hamilton Insurance Group

In related news, CAO Brian John Deegan sold 17,500 shares of the firm’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 transaction, the chief accounting officer now directly owns 20,824 shares in the company, valued at $399,404.32. This trade represents a 45.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Hamilton Insurance Group

Institutional investors have recently made changes to their positions in the company. Quarry LP boosted its holdings in Hamilton Insurance Group by 448.5% in the third quarter. Quarry LP now owns 1,640 shares of the company’s stock valued at $32,000 after purchasing an additional 1,341 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Hamilton Insurance Group during the 2nd quarter worth about $34,000. Financial Management Professionals Inc. purchased a new position in Hamilton Insurance Group in the third quarter valued at approximately $34,000. Toronto Dominion Bank purchased a new stake in shares of Hamilton Insurance Group during the 3rd quarter worth approximately $97,000. Finally, US Bancorp DE purchased a new position in shares of Hamilton Insurance Group in the 3rd quarter valued at $107,000. Hedge funds and other 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.