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

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays dropped their price target on shares of Hamilton Insurance Group from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.20.

Insider Buying and Selling

In related news, CAO Brian John Deegan sold 17,500 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 20,824 shares in the company, valued at approximately $399,404.32. This represents a 45.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its position in Hamilton Insurance Group by 198.2% during the third quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock worth $71,859,000 after acquiring an additional 2,469,422 shares during the period. JPMorgan Chase & Co. increased its position in Hamilton Insurance Group by 538.4% during the third quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock worth $16,677,000 after acquiring an additional 727,242 shares during the period. Private Management Group Inc. bought a new position in Hamilton Insurance Group during the fourth quarter worth about $10,511,000. State Street Corp increased its position in Hamilton Insurance Group by 133.3% during the third quarter. State Street Corp now owns 532,632 shares of the company’s stock worth $10,301,000 after acquiring an additional 304,371 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Hamilton Insurance Group during the third quarter worth about $9,419,000. 29.17% of the stock is owned by institutional investors.

Hamilton Insurance Group Price Performance

Shares of HG opened at $19.08 on Monday. The firm has a market capitalization of $1.93 billion, a PE ratio of 4.27 and a beta of 1.03. The company’s 50-day moving average is $19.02 and its 200-day moving average is $18.50. 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 current ratio of 0.77 and a quick ratio of 0.77.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $512.84 million for the quarter, compared to analyst estimates of $515.96 million. Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. During the same period in the prior year, the firm earned $0.41 earnings per share. Equities analysts forecast that Hamilton Insurance Group will post 4.1 EPS for the current year.

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.