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Thomas Megan Jane, CEO of Hamilton Re, a subsidiary of Hamilton Insurance Group, Ltd. (NYSE:HG), recently sold 53,256 Class B common shares. The shares were sold at a weighted average price of $20.06, amounting to a total transaction value of approximately $1.07 million. Following this sale, Megan Jane holds 229,674 shares. The transaction was executed as part of a pre-arranged trading plan.The sale comes as HG trades near its 52-week high of $21.05, having delivered an impressive 60% return over the past year. With a market capitalization of $2.06 billion and a P/E ratio of 5.33, InvestingPro analysis indicates the stock is currently fairly valued. InvestingPro subscribers can access comprehensive insider trading analysis and 10 additional key insights about HG, along with detailed financial health metrics showing an overall GREAT rating.
In other recent news, Hamilton Insurance Group reported its Q4 2024 earnings, revealing an EPS of $0.32, which fell short of the forecasted $0.71. Despite this, the company saw a 55% increase in full-year net income, highlighting robust financial performance. Revenue for the year reached $543.94 million, significantly surpassing expectations. Hamilton’s gross written premiums also grew by 24% year-over-year, totaling $2.4 billion. The company achieved record underwriting income and an improved return on equity.
Analysts have adjusted their outlooks on Hamilton Insurance. Keefe, Bruyette & Woods raised their stock target to $25, maintaining an Outperform rating, while JMP Securities increased their target to $27, citing a Market Outperform rating. These revisions follow Hamilton’s earnings report, which included an operating EPS of $0.26, missing JMP’s estimate of $0.62. The company attributed the earnings miss to higher non-controlling interest expenses and increased corporate expenses.
Despite the setbacks, Hamilton reported favorable prior period development and lower-than-expected catastrophe losses. The company also provided an initial estimate for first-quarter losses due to the California wildfires, projecting a net impact of $120 million to $150 million. Analysts, such as JMP Securities, view this estimation as a favorable outcome for the insurer.
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