Hamilton Insurance Group, Ltd. (NYSE:HG) Short Interest Up 90.9% in September

Hamilton Insurance Group, Ltd. (NYSE:HG) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,400,000 shares, a growth of 90.9% from the September 15th total of 733,200 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 707,900 shares, the short-interest ratio is presently 2.0 days.

Hamilton Insurance Group Stock Down 1.3 %

Hamilton Insurance Group stock opened at $18.50 on Friday. Hamilton Insurance Group has a fifty-two week low of $12.44 and a fifty-two week high of $20.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day simple moving average is $18.57 and its 200 day simple moving average is $16.59. The stock has a market cap of $1.89 billion and a PE ratio of 4.47.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Wednesday, August 7th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.29. The firm had revenue of $587.94 million for the quarter, compared to the consensus estimate of $502.37 million. Hamilton Insurance Group had a return on equity of 21.77% and a net margin of 21.45%. Research analysts predict that Hamilton Insurance Group will post 4.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HG. SG Americas Securities LLC boosted its stake in Hamilton Insurance Group by 61.4% in the third quarter. SG Americas Securities LLC now owns 28,607 shares of the company’s stock valued at $553,000 after acquiring an additional 10,885 shares during the last quarter. Algert Global LLC purchased a new position in Hamilton Insurance Group in the second quarter valued at approximately $214,000. Alpha DNA Investment Management LLC bought a new position in Hamilton Insurance Group during the second quarter valued at $486,000. Cubist Systematic Strategies LLC boosted its holdings in Hamilton Insurance Group by 137.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 110,453 shares of the company’s stock worth $1,839,000 after buying an additional 63,937 shares during the period. Finally, Sei Investments Co. grew its position in shares of Hamilton Insurance Group by 22.8% in the second quarter. Sei Investments Co. now owns 250,725 shares of the company’s stock valued at $4,175,000 after purchasing an additional 46,540 shares in the last quarter. Institutional investors own 29.17% of the company’s stock.

Analysts Set New Price Targets

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