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 increase in short interest during the month of September. As of September 30th, there was short interest totalling 1,400,000 shares, an increase of 90.9% from the September 15th total of 733,200 shares. Based on an average daily trading volume, of 707,900 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HG shares. JMP Securities upped their price target on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Thursday, August 8th. Barclays started coverage on shares of Hamilton Insurance Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $26.00 price target for the company. Keefe, Bruyette & Woods upped their price target on shares of Hamilton Insurance Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Morgan Stanley lowered shares of 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 report on Monday, August 19th. Finally, Wells Fargo & Company upped their price target on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Hamilton Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Hamilton Insurance Group in the 4th quarter worth about $19,249,000. Federated Hermes Inc. bought a new position in Hamilton Insurance Group in the 2nd quarter worth about $6,454,000. American Century Companies Inc. grew its stake in Hamilton Insurance Group by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 2,084,332 shares of the company’s stock worth $34,704,000 after acquiring an additional 313,417 shares in the last quarter. Acadian Asset Management LLC bought a new position in Hamilton Insurance Group in the 1st quarter worth about $3,831,000. Finally, Vanguard Group Inc. bought a new position in Hamilton Insurance Group in the 1st quarter worth about $2,545,000. 29.17% of the stock is currently owned by institutional investors.

Hamilton Insurance Group Stock Down 1.3 %

Shares of HG stock opened at $18.50 on Monday. The stock has a market cap of $1.89 billion and a P/E ratio of 4.47. Hamilton Insurance Group has a 52 week low of $12.44 and a 52 week high of $20.71. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $18.60 and its two-hundred day simple moving average is $16.65.

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

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.