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

Hamilton Insurance Group, Ltd. (NYSE:HG) saw a large increase in short interest in 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 volume of 707,900 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.7% of the company’s stock are short sold.

Hedge Funds Weigh In On Hamilton Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new stake in Hamilton Insurance Group during the fourth quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Hamilton Insurance Group during the 2nd quarter valued at about $34,000. American International Group Inc. purchased a new position in shares of Hamilton Insurance Group in the 1st quarter valued at about $115,000. Fifth Lane Capital LP purchased a new position in shares of Hamilton Insurance Group in the 1st quarter valued at about $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Hamilton Insurance Group in the 2nd quarter worth about $156,000. Institutional investors and hedge funds own 29.17% of the company’s stock.

Hamilton Insurance Group Stock Down 1.3 %

Shares of HG stock opened at $18.50 on Friday. Hamilton Insurance Group has a 1-year low of $12.44 and a 1-year high of $20.71. The company has a market cap of $1.89 billion and a price-to-earnings ratio of 4.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average price is $18.57 and its 200 day moving average price is $16.59.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data 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 analyst estimates of $502.37 million. Hamilton Insurance Group had a net margin of 21.45% and a return on equity of 21.77%. On average, research analysts expect that Hamilton Insurance Group will post 4.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.