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Investing.com - JMP Securities has raised its price target on Hamilton Insurance Group (NYSE:HG) to $29.00 from $27.00 while maintaining a Market Outperform rating following the company’s second-quarter 2025 results. The stock, currently trading at $21.55 and near its 52-week high of $22.33, appears attractively valued with a P/E ratio of 6.8x. According to InvestingPro, the company maintains a "GREAT" overall financial health score of 3.4.
Hamilton reported operating earnings per share of $1.55, significantly exceeding both JMP’s estimate of $1.09 and the consensus forecast of $1.05. The earnings beat was primarily driven by higher-than-expected net investment income of $149 million, compared to estimates of $88 million, fueled by strong returns from the Two Sigma Hamilton Fund. The company’s strong financial position is evidenced by its healthy current ratio of 2.15, indicating robust liquidity management.
The insurer also benefited from lower-than-anticipated catastrophe losses of $1.8 million versus estimates of $31 million, and favorable prior period development of $2.4 million, exceeding the expected $1.3 million. These positive factors were partially offset by a higher expense ratio of 34% compared to the 32% estimate.
Gross written premiums increased 18% during the quarter, surpassing JMP’s projection of 14% growth. The company saw accelerated growth in its Bermuda/Reinsurance segment, which rose 26% against estimates of 15%, while the International segment grew 11%.
Hamilton’s book value reached $25.55 per share as of June 30, above JMP’s estimate of $24.84 and representing an 8% sequential increase from March 31. JMP’s new $29 price target represents approximately 0.9 times forward book value and 7 times estimated 2026 earnings per share. With impressive revenue growth of 27.7% and management actively buying back shares, InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report for deeper analysis of Hamilton’s growth trajectory.
In other recent news, Hamilton Insurance Group has announced several significant leadership changes and appointments. The company has appointed Russ Buckley as Group Chief Risk Officer, who will join the Executive Management team and report directly to CEO Pina Albo. Additionally, Raymond (NSE:RYMD) Karrenbauer has been named Group Chief Information Officer, effective September 15, 2025, succeeding Venkat Krishnamoorthy. Hamilton Insurance has also revealed that Adrian Daws will become CEO of Hamilton Re, while Alex Baker will take over as CEO of Hamilton Global Specialty in London. Tim Duffin will step into the newly created role of Group Chief Underwriting Officer in Bermuda, effective January 1, 2026. The company further announced the addition of Karen Green and David Priebe to its Board of Directors, while marking the retirement of Bill Freda. David A. Brown, Chair of Hamilton’s Board, expressed enthusiasm for these new board appointments, highlighting the valuable insights they are expected to bring. These developments reflect Hamilton Insurance Group’s ongoing efforts to strengthen its leadership team and strategic direction.
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