Hamilton Insurance Group, Ltd.

Hamilton Insurance Group, Ltd.

HG·NYSE

$28.80

-0.40%
Financial ServicesInsurance - Reinsurance

Hamilton Insurance Group, Ltd., through its subsidiaries, engages in underwriting specialty insurance and reinsurance risks in Bermuda and internationally. 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 treaty reinsurance; and specialty reinsurance solutions, including accident and health, aviation, crisis management, financial lines, marine and energy, multiline specialty, and satellite reinsurance. It also provides accident and health, cyber, excess energy, environmental, financial lines, fine art and specie, kidnap and ransom, M&A, marine and energy liability, political risk, professional liability, property binders, property D&F, space, upstream energy, general and excess casualty, war and terrorism, allied medical, management liability, medical professionals, products liability and contractors, and small business casualty insurance plans. The company was incorporated in 2013 and is based in Pembroke, Bermuda with additional locations in Dublin, Ireland; London, United Kingdom; Miami, Florida; New York, New York; and Glen Allen, Virginia.

At a Glance

Live Snapshot
Market Cap$2.87B
EPS5.6800
P/E Ratio5.07
Earnings Date08/05/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

High confidence

Valuation multiple is compressed (P/E 5.1).

Valuation inputs: P/E 5.1, earnings yield +19.7%, momentum -0.4%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is strong (ROE +20.4%, ROIC +27.8%).

Profitability stack: net margin +21.0%, ROE +20.4%, ROIC +27.8%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +70.5%, momentum -0.4%, net margin +21.0%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

hg

Hamilton Insurance Group, Ltd. Market vs Earnings Trajectory

HG · NYSE

Loading price and EPS data...

Hamilton Insurance Group, Ltd.

Hamilton Insurance Group, Ltd. Fair Value Envelope

HG · NYSE

Our analysis suggests that HG has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $28.8, this represents a potential HIDDEN relative to our calculated worth for Hamilton Insurance Group, Ltd..

Intrinsic Value
Current Price: $28.8
3Y-738.0%
5Y-377.0%
10Y-377.0%
3Y+113.0%
5Y+271.0%
10Y+271.0%
3Y-688.0%
5Y-374.0%
10Y-374.0%
3Y+341.0%
5Y+31214.0%
10Y+31214.0%
3Y+341.0%
5Y+31214.0%
10Y+31214.0%
3Y+64.0%
5Y+71.0%
10Y+71.0%
Hamilton Insurance Group, Ltd.

Hamilton Insurance Group, Ltd. Profit Bridge

HG · NYSE
Revenue2.74B
Cost of Goods Sold (1.26B)
Gross Profit1.48B
Operating Expenses (659.32M)
Operating Income824.90M
Interest Expense (20.19M)
Other Income/Expense0.00
Pretax Income824.90M
Income Tax (-15.12M)
Net Income576.67M
Net Income
576.67M

Profitability Analysis

Gross Margin

54.1%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

30.1%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

21.0%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

-1.8%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.

54.11%
Gross Profit Margin
38%
3Y+242.0%
5Y+2381.0%
10Y+2381.0%
30.08%
Operating Profit Margin
15%
3Y-1543.0%
5Y-228.0%
10Y-228.0%
21.03%
Net Profit Margin
25%
3Y-376.0%
5Y-174.0%
10Y-174.0%
20.43%
Return on Equity
19%
3Y-447.0%
5Y-
10Y-
6.02%
Return on Assets
17%
3Y-458.0%
5Y-
10Y-
27.76%
Return on Invested Capital
233%
3Y-5126.0%
5Y-
10Y-
HG

Hamilton Insurance Group, Ltd. Cash Conversion Engine

HG · NYSE
Net Income840.03M
Depreciation & Amortization15.93M
Stock-Based Compensation29.26M
Change in Working Capital672.91M
Others-715.78M
Capital Expenditures0.00
Free Cash Flow842.35M

Cash Flow Quality Analysis

FCF Conversion Rate

100.3%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

FCF Growth Trend

+10.9%

Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.

Working Capital Impact

+$672.91M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

hg

Hamilton Insurance Group, Ltd. Funding & Solvency Profile

HG · NYSE
Cash & Cash Equivalents955.52M
Net Receivables1.15B
Inventory0.00
Other Current Assets-4.51B
Total Current Assets956 M
Property, Plant & Equipment0.00
Goodwill & Intangible Assets84.33M
Long-Term Investments1.69B
Other Non-Current Assets-1.69B
Total Non-Current Assets0
Total Assets
9.86B

Financial Health Analysis

Debt-to-Equity Ratio

2.58x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

956 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

10% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

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Hamilton Insurance Group, Ltd. Street Expectations Map

HG · NYSE

Wall Street analysts project that HG stock may experience modest gains over the coming 12 months. The consensus 1-year price target stands at 31.20, with estimates ranging from a low of 26.00 to a high of 35.00.

Lowest Target
26.00
-9.72%
Consensus Target
31.20
8.33%
Highest Target
35.00
21.53%

The consensus 1-year price target stands at 31.20, with estimates ranging from a low of 26.00 to a high of 35.00.

Analyst Consensus Analysis

Upside Potential

+8.3%

Moderate upside. Analysts expect positive returns but with limited margin of safety. Consider entry timing.

Analyst Agreement

28.8% spread

Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.

Risk-Reward Profile

2.21x

Favorable risk-reward. Potential upside significantly exceeds downside risk, offering asymmetric return profile attractive for risk-tolerant investors.

Analyst Conviction

High

Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

hg

Hamilton Insurance Group, Ltd. Insider Positioning

HG · NYSE

During the last 12 months, insiders have purchased $3K and sold $6.80M worth of HG shares, resulting in $6.79M of net selling activity.

3 Months

Bought

99

3.07K

Sold

70.1K

2.22M

Net Activity

-2.2M

-$2.22M

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

18.4K

480.64K

Net Activity

-481K

-$481K

9-12 Months

Bought

0

0.00

Sold

172.0K

4.09M

Net Activity

-4.1M

-$4.09M

Top Buyers

1
CBE

Cooper Bradley E

Director

99 shares1 transactions

$3K

Top Sellers

1
GMJ

Graves Megan Jane

Officer: Ceo, Hamilton Re

100.0K shares2 transactions

$2.35M

2
BDA

Brown David A

Director

50.0K shares2 transactions

$1.60M

3
BKD

Bernhard Keith Donald

Officer: Group Chief Audit Officer

47.0K shares1 transactions

$1.15M

4
BAJ

Baker Alexander James

Officer: Ceo, Hamilton Global Specialty

24.4K shares2 transactions

$623K

5
KV

Krishnamoorthy Venkatanarayanan

Officer: Group Cto And Group Cdo

19.0K shares1 transactions

$456K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $6.79M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$2.22M

Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.

Insider Participation

High Selling

5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.

6.59%
Dividend Yield
3Y-
5Y-
10Y-
 

hg Dividend History

HG
10Y CAGR +0%
Latest $2
Annual $2
Stable dividend payments
Last Period: +0%