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

Hamilton Insurance Group, Ltd. (NYSE:HG) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,330,000 shares, an increase of 5.6% from the December 15th total of 1,260,000 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 413,400 shares, the days-to-cover ratio is currently 3.2 days.

Hamilton Insurance Group Stock Performance

Hamilton Insurance Group stock remained flat at $19.39 during mid-day trading on Monday. The company’s stock had a trading volume of 523,069 shares, compared to its average volume of 366,030. The firm’s 50-day moving average is $18.81 and its two-hundred day moving average is $18.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 4.34 and a beta of 1.03. Hamilton Insurance Group has a one year low of $12.44 and a one year high of $20.71.

Hamilton Insurance Group (NYSE:HG) last posted its earnings results 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. The company had revenue of $512.84 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $0.41 earnings per share. Sell-side analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current year.

Analysts Set New Price Targets

HG has been the subject of a number of research reports. Barclays lowered their price target on Hamilton Insurance Group from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, January 6th. 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Hamilton Insurance Group has an average rating of “Moderate Buy” and an average target price of $22.20.

Insider Activity

In other news, CAO Brian John Deegan sold 17,500 shares of the company’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 owns 20,824 shares of the company’s stock, valued at approximately $399,404.32. This represents a 45.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of large investors have recently made changes to their positions in HG. Bank of New York Mellon Corp increased its position in shares of Hamilton Insurance Group by 63.7% during the second quarter. Bank of New York Mellon Corp now owns 51,359 shares of the company’s stock worth $855,000 after purchasing an additional 19,991 shares in the last quarter. Rhumbline Advisers increased its position in shares of Hamilton Insurance Group by 52.0% in the 2nd quarter. Rhumbline Advisers now owns 25,068 shares of the company’s stock valued at $417,000 after acquiring an additional 8,572 shares during the period. Renaissance Technologies LLC increased its position in shares of Hamilton Insurance Group by 40.7% in the 2nd quarter. Renaissance Technologies LLC now owns 357,800 shares of the company’s stock valued at $5,957,000 after acquiring an additional 103,426 shares during the period. Sei Investments Co. increased its position in shares of Hamilton Insurance Group by 22.8% in the 2nd quarter. Sei Investments Co. now owns 250,725 shares of the company’s stock valued at $4,175,000 after acquiring an additional 46,540 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in shares of Hamilton Insurance Group by 137.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 110,453 shares of the company’s stock valued at $1,839,000 after acquiring an additional 63,937 shares during the period. 29.17% of the stock is owned by institutional investors and hedge funds.

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.