Hamilton Insurance Group, Ltd. (NYSE:HG) Short Interest Up 10.1% in November

Hamilton Insurance Group, Ltd. (NYSE:HG) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,310,000 shares, an increase of 10.1% from the October 31st total of 1,190,000 shares. Based on an average daily volume of 612,400 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.4% of the shares of the company are sold short.

Hamilton Insurance Group Trading Up 0.8 %

Hamilton Insurance Group stock traded up $0.16 during trading hours on Wednesday, reaching $19.24. 142,361 shares of the company’s stock were exchanged, compared to its average volume of 427,816. The firm’s 50 day simple moving average is $18.44 and its 200 day simple moving average is $17.75. Hamilton Insurance Group has a twelve month low of $12.44 and a twelve month high of $20.71. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.95 billion and a PE ratio of 4.27.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $512.84 million for 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 period in the previous year, the firm earned $0.41 earnings per share. Research analysts predict that Hamilton Insurance Group will post 4.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Brian John Deegan sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 of the company’s stock, valued at approximately $399,404.32. This trade represents a 45.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of institutional investors have recently modified their holdings of HG. Quarry LP grew its stake in Hamilton Insurance Group by 448.5% in the 3rd 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. Financial Management Professionals Inc. purchased a new stake in Hamilton Insurance Group during the third quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Hamilton Insurance Group in the second quarter worth about $34,000. Toronto Dominion Bank bought a new position in shares of Hamilton Insurance Group during the 3rd quarter valued at approximately $97,000. Finally, US Bancorp DE purchased a new stake in shares of Hamilton Insurance Group during the 3rd quarter worth approximately $107,000. 29.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on HG shares. JMP Securities increased their price target on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods boosted their price target on Hamilton Insurance Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Wells Fargo & Company raised their price objective on Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley downgraded Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 target price for the company. in a research note on Monday, August 19th. Finally, Barclays assumed coverage on shares of Hamilton Insurance Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $26.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

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.