Hamilton Insurance Group (NYSE:HG) Releases Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Hamilton Insurance Group (NYSE:HG) issued its quarterly earnings data on Wednesday. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.29, Zacks reports. The firm had revenue of $587.94 million during the quarter, compared to the consensus estimate of $502.37 million. Hamilton Insurance Group had a net margin of 19.11% and a return on equity of 18.53%.

Hamilton Insurance Group Price Performance

NYSE HG traded up $0.52 on Friday, reaching $17.18. The company had a trading volume of 350,109 shares, compared to its average volume of 329,900. The firm’s 50 day moving average price is $16.50 and its 200 day moving average price is $15.20. Hamilton Insurance Group has a 12 month low of $12.44 and a 12 month high of $18.07. The stock has a market capitalization of $1.91 billion and a PE ratio of 5.22. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07.

Insider Activity

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 22,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $16.70, for a total value of $367,400.00. Following the sale, the chief accounting officer now owns 18,957 shares of the company’s stock, valued at approximately $316,581.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Hamilton Insurance Group news, Director Alan Neil Patterson bought 21,135 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $16.66 per share, for a total transaction of $352,109.10. Following the transaction, the director now owns 21,135 shares of the company’s stock, valued at $352,109.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brian John Deegan sold 22,000 shares of Hamilton Insurance Group stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $16.70, for a total value of $367,400.00. Following the completion of the transaction, the chief accounting officer now owns 18,957 shares of the company’s stock, valued at approximately $316,581.90. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JMP Securities lifted their price objective on Hamilton Insurance Group from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Thursday. Morgan Stanley reduced their price objective on shares of Hamilton Insurance Group from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Wells Fargo & Company upped their target price on shares of Hamilton Insurance Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $21.00 price target (up from $20.00) on shares of Hamilton Insurance Group in a report on Thursday, May 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $20.50.

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.