Company Overview - Hamilton Insurance closed at $18.15, reflecting a -0.71% change from the previous session, underperforming compared to the S&P 500's loss of 0.43% [1] - The stock has decreased by 4.24% over the past month, contrasting with the Finance sector's gain of 3.13% and the S&P 500's gain of 2.6% [1] Upcoming Financial Results - Hamilton Insurance is set to announce its earnings on February 26, 2025, with an expected EPS of $0.76, representing a 33.91% decline from the same quarter last year [2] - The consensus estimate for revenue is $571.22 million, which is a 15.36% increase from the prior-year quarter [2] Analyst Forecasts - Recent revisions to analyst forecasts for Hamilton Insurance are important as they reflect near-term business trends, with positive revisions indicating optimism about the company's outlook [3] - The Zacks Rank system, which assesses these estimate changes, has shown a correlation with stock price performance [4] Zacks Rank and Valuation - Hamilton Insurance currently holds a Zacks Rank of 4 (Sell), with the consensus EPS projection decreasing by 0.81% in the past 30 days [5] - The company's Forward P/E ratio is 4.99, indicating a discount compared to the industry's average Forward P/E of 10.16 [6] Industry Context - The Insurance - Multi line industry is part of the Finance sector and holds a Zacks Industry Rank of 128, placing it in the top 50% of over 250 industries [6] - Research indicates that top-rated industries outperform lower-rated ones by a factor of 2 to 1 [7]

Company Performance - Hamilton Insurance's stock closed at $18.86, showing no change from the previous day, underperforming compared to the S&P 500's gain of 0.16% [1] - Over the past month, Hamilton Insurance shares experienced a loss of 1.77%, which is better than the Finance sector's loss of 4.27% and the S&P 500's loss of 2.7% [1] Upcoming Financial Results - The company is expected to report an EPS of $0.76, reflecting a decline of 33.91% from the same quarter last year [2] - Revenue is projected to be $571.22 million, indicating a 15.36% increase compared to the equivalent quarter last year [2] Analyst Estimates and Market Sentiment - Recent adjustments to analyst estimates for Hamilton Insurance are being monitored, as positive revisions indicate optimism regarding the company's business and profitability [3] - The Zacks Rank system, which evaluates these estimate changes, currently ranks Hamilton Insurance at 3 (Hold) [5] Valuation Metrics - Hamilton Insurance is trading at a Forward P/E ratio of 5.11, which is a discount compared to its industry's Forward P/E of 9.46 [6] - The Insurance - Multi line industry, part of the Finance sector, holds a Zacks Industry Rank of 44, placing it in the top 18% of over 250 industries [6]

Financial Data and Key Metrics Changes - The company reported its third quarter 2024 earnings, with a focus on the impact of recent natural catastrophes on financial performance [4]. Business Line Data and Key Metrics Changes - Specific details regarding changes in various business lines were not provided in the available content [4]. Market Data and Key Metrics Changes - The content does not include specific market data or key metrics changes [4]. Company Strategy and Development Direction and Industry Competition - The CEO expressed concern over the recent natural catastrophes affecting many lives, indicating a potential focus on corporate social responsibility and community support [4]. Management Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by natural disasters in the past quarter, which may influence future operational strategies and risk management [4]. Other Important Information - The call included a reminder about the availability of financial disclosures and forward-looking statements, emphasizing the importance of understanding risks and uncertainties [3]. Q&A Session Summary Question: Impact of natural catastrophes on financial performance - The management acknowledged the impact of recent natural catastrophes but did not provide specific financial metrics or projections related to this issue [4].

Financial Performance - Gross premiums written for Q3 2024 reached $553,401,000, a 16.7% increase from $474,123,000 in Q3 2023[16] - Net premiums earned for the nine months ended September 30, 2024, totaled $1,252,862,000, up 31.5% from $952,398,000 in the same period of 2023[16] - Total revenues for Q3 2024 were $512,844,000, representing a 29.3% increase compared to $396,266,000 in Q3 2023[16] - Net income for Q3 2024 was $61,035,000, a 15.4% increase from $52,648,000 in Q3 2023[16] - Basic income per share attributable to common shareholders for Q3 2024 was $0.77, compared to $0.42 in Q3 2023[16] - Total expenses for Q3 2024 were $448,780,000, an increase of 31.6% from $341,231,000 in Q3 2023[16] - Losses and loss adjustment expenses for Q3 2024 amounted to $273,632,000, up 42.9% from $191,577,000 in Q3 2023[16] - Net income for the nine months ended September 30, 2024, was $538,749 thousand, a significant increase from $146,938 thousand in the same period of 2023, representing a growth of 267%[20] - Net income attributable to common shareholders for the three months ended September 30, 2024, was $78.3 million, compared to $43.6 million for the same period in 2023[103][105] - Net income attributable to common shareholders for the nine months ended September 30, 2024, was $366,509, up from $131,862 in 2023, representing a significant increase of 177.5%[109] Assets and Liabilities - Total assets increased to $7,826,547 thousand as of September 30, 2024, compared to $6,671,355 thousand at December 31, 2023, reflecting a growth of approximately 17.3%[15] - Total liabilities rose to $5,452,861 thousand in 2024, compared to $4,623,372 thousand in 2023, indicating an increase of about 17.9%[15] - Shareholders' equity increased to $2,313,626 thousand in 2024 from $2,047,850 thousand in 2023, representing a growth of approximately 13.0%[15] - Cash and cash equivalents increased to $957,372 thousand in 2024, up from $794,509 thousand in 2023, representing a growth of approximately 20.6%[15] - Total fixed maturities and short-term investments amounted to $2,828,131 thousand as of September 30, 2024, with gross unrealized losses of $27,456 thousand[40] - Total cash and cash equivalents and restricted cash and cash equivalents increased to $1.1 billion as of September 30, 2024, up from $900.9 million at December 31, 2023[60] - The company's net unpaid losses and loss adjustment expenses at the end of the period were $2.24 billion as of September 30, 2024, compared to $1.79 billion at the end of September 30, 2023[89] Investments - Total investments rose to $3,760,918 thousand in 2024 from $3,111,616 thousand in 2023, marking an increase of about 20.8%[15] - The company reported a significant increase in investments in Two Sigma Funds, rising to $932,787 thousand in 2024 from $851,470 thousand in 2023, an increase of about 9.5%[15] - The company reported net realized and unrealized gains on investments of $65,558,000 for Q3 2024, compared to $55,412,000 in Q3 2023[16] - The total net realized and unrealized gains on investments and net investment income for the nine months ended September 30, 2024, was $498,518, compared to $119,600 for the same period in 2023[55] - The company reported net realized gains on investments for the three months ended September 30, 2024, were $93,711, compared to $42,403 for the same period in 2023[55] - The company reported a net realized loss on investments of $(382,646) thousand for the nine months ended September 30, 2024, compared to a loss of $(32,363) thousand in 2023[20] Premiums and Underwriting - Premiums receivable grew to $885,744 thousand in 2024, compared to $658,363 thousand in 2023, indicating an increase of around 34.5%[15] - For the three months ended September 30, 2024, gross premiums written totaled $553.4 million, an increase from $474.1 million for the same period in 2023[103][105] - Net premiums earned for the three months ended September 30, 2024, were $448.8 million, compared to $337.0 million for the same period in 2023[103][105] - Underwriting income for the three months ended September 30, 2024, was $29.1 million, up from $24.9 million for the same period in 2023[103][105] - The attritional loss ratio for the current year was 53.2% as of September 30, 2024, compared to 54.8% for the same period in 2023[103][105] - The combined ratio for the three months ended September 30, 2024, was 93.6%, an improvement from 92.6% for the same period in 2023[103][105] Risks and Challenges - The company faces risks related to macroeconomic conditions, including rising energy prices and inflation, which could impact future performance[9] - The company is dependent on key executives and may face challenges in attracting qualified personnel due to competitive hiring conditions[9] - The company remains exposed to market risks including interest rate risk, credit spread risk, equity price risk, and foreign currency risk, with no material changes reported[371] Shareholder Actions - The company completed its initial public offering (IPO) of Class B common shares on November 14, 2023, listed on the NYSE[22] - The company repurchased 9.1 million Class A common shares at $12.00 per share for a total of $109.5 million, which were subsequently canceled[128] - On August 7, 2024, the Board authorized a share repurchase program of up to $150 million, with $140 million remaining available for purchase as of September 30, 2024[129] - The company amended its unsecured credit agreement to provide up to $415 million in letter of credit capacity, with no loan amounts outstanding as of September 30, 2024[116] Compliance and Financial Covenants - The company maintained compliance with all financial covenants related to its $150 million term loan facility as of September 30, 2024[111] - As of September 30, 2024, all applicable entities were in compliance with financial and reporting covenants under the credit facilities[120]

Core Viewpoint - Hamilton Insurance reported quarterly earnings of $0.74 per share, exceeding the Zacks Consensus Estimate of $0.69 per share, and showing a significant increase from $0.41 per share a year ago, indicating strong performance in the insurance and reinsurance sector [1][2] Financial Performance - The company achieved revenues of $512.84 million for the quarter ended September 2024, which was slightly below the Zacks Consensus Estimate by 0.60%, but up from $396.27 million in the same quarter last year [2] - Over the last four quarters, Hamilton Insurance has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Performance - Hamilton Insurance shares have increased approximately 19.8% since the beginning of the year, while the S&P 500 has gained 21.2%, indicating a slight underperformance relative to the broader market [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.82 on revenues of $558.95 million, and for the current fiscal year, it is $4.12 on revenues of $2.32 billion [7] - The estimate revisions trend for Hamilton Insurance is currently unfavorable, resulting in a Zacks Rank 4 (Sell), suggesting expected underperformance in the near future [6] Industry Context - The Insurance - Multi line industry, to which Hamilton Insurance belongs, is currently ranked in the top 31% of over 250 Zacks industries, indicating a favorable industry outlook [8]

Financial Performance - Net income for Q3 2024 was $78.3 million, or $0.74 per diluted share, representing a significant increase from $43.6 million in Q3 2023[3][7] - Year-to-date net income reached $366.5 million, with an annualized return on average equity of 22.4%[4] - Net income attributable to common shareholders was $366.5 million, compared to $131.9 million in the previous year, representing a significant increase of $234.6 million[13] - Net income attributable to common shareholders for the three months ended September 30, 2024, was $78,250 thousand, compared to $43,583 thousand in 2023, representing an increase of 79.7%[30] Premiums and Underwriting - Gross premiums written increased by 16.7% to $553.4 million compared to Q3 2023, with net premiums earned rising by 33.2% to $448.8 million[3][8] - The International Segment saw gross premiums written increase by 6.0% to $325.5 million, while the Bermuda Segment experienced a 36.5% increase to $227.9 million[10][11] - Gross premiums written increased by $361.4 million, or 23.8%, to $1.9 billion, with a 15.1% increase in the International Segment and a 34.4% increase in the Bermuda Segment[14] - Net premiums written rose by $351.1 million, or 31.4%, to $1.5 billion, with increases of 24.2% in the International Segment and 38.6% in the Bermuda Segment[14] - Net premiums earned increased by $300.5 million, or 31.5%, to $1.3 billion, with a 26.3% increase in the International Segment and a 37.4% increase in the Bermuda Segment[14] - The combined ratio for Q3 2024 was 93.6%, slightly up from 92.6% in Q3 2023, indicating continued underwriting discipline despite catastrophe losses[2][8] - The combined ratio improved to 89.9%, a decrease of 0.3 percentage points from 90.2% in the previous year[14] - Underwriting income for the three months ended September 30, 2024, was $29,094 thousand, up from $24,866 thousand in 2023, indicating a growth of 16.4%[33] Investment Income - Net investment income for Q3 2024 was $82.8 million, with a notable loss of $11.1 million from the Two Sigma Hamilton Fund[3] - Net investment income for the three months ended September 30, 2024, was $17,330 thousand, compared to $8,069 thousand in 2023, reflecting a significant increase of 114.0%[27] Expenses - Corporate expenses for the year-to-date totaled $41.8 million, including $7.5 million related to the Value Appreciation Pool[4] - Other underwriting expenses for Q3 2024 were $48,332 thousand, an increase of 4.4% from $44,357 thousand in Q3 2023[38] - Corporate expenses decreased to $14,060 thousand in Q3 2024 from $18,678 thousand in Q3 2023, reflecting a reduction of 25.5%[38] - General and administrative expenses for the nine months ended September 30, 2024, totaled $182,164 thousand, up 15.2% from $158,075 thousand in the same period of 2023[38] Assets and Equity - Book value per share increased by 22.8% to $22.82 compared to December 31, 2023[4] - Total invested assets and cash increased to $4.6 billion from $4.0 billion at the end of 2023[19] - Total shareholders' equity rose to $2.3 billion from $2.0 billion at the end of 2023[19] - Total assets increased to $7,826,547 thousand as of September 30, 2024, up from $6,671,355 thousand at December 31, 2023, representing a growth of approximately 17.3%[25] - Cash and cash equivalents rose to $957,372 thousand as of September 30, 2024, compared to $794,509 thousand at December 31, 2023, an increase of 20.6%[25] Catastrophe Losses - The company estimates losses from Hurricane Milton to be between $30 million and $70 million, which will impact Q4 2024 results[5] - Catastrophe losses totaled $38.5 million, primarily driven by Hurricane Helene, the Calgary hailstorms, and Hurricane Debby[15] Risks and Challenges - The company anticipates continued growth in its market position and profitability, although actual results may vary due to various risks and uncertainties[39] - The insurance and reinsurance business is historically cyclical, and pricing for products may decline, impacting profitability and premium growth[40] - Significant foreign operations expose the company to additional risks, including foreign currency and political risks[40] - The company faces potential challenges in accurately assessing underwriting risk and maintaining broker relationships, which could adversely affect operations[40] - The company is dependent on key executives and may face difficulties in attracting qualified personnel in competitive hiring conditions[41] - Future capital needs may arise, and there is a risk that capital may not be available on favorable terms[42] - The company may encounter operational failures or issues with information systems that could impact financial results[42]

Core Viewpoint - Hamilton Insurance is anticipated to report a year-over-year increase in earnings and revenues for the quarter ended September 2024, with earnings expected to be $0.69 per share, reflecting a +68.3% change, and revenues projected at $515.96 million, up 30.2% from the previous year [1][3]. Earnings Expectations - The upcoming earnings report is scheduled for November 6, and the stock may rise if the actual results exceed expectations, while a miss could lead to a decline [2]. - The consensus EPS estimate has been revised down by 4.65% over the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for Hamilton Insurance aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [10]. - The stock currently holds a Zacks Rank of 4, suggesting a challenging outlook for beating the consensus EPS estimate [10][11]. Historical Performance - In the last reported quarter, Hamilton Insurance exceeded the expected earnings of $0.91 per share by delivering $1.20, resulting in a surprise of +31.87% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [13]. Industry Comparison - Assurant, another player in the Zacks Insurance - Multi line industry, is expected to post earnings of $2.64 per share for the same quarter, indicating a year-over-year decline of -38.5%, with revenues projected at $2.91 billion, up 4.2% [17]. - Assurant's consensus EPS estimate has been revised down by 28.8% in the last 30 days, leading to an Earnings ESP of -5.30% and a Zacks Rank of 3 [18].

The latest trading session saw Hamilton Insurance (HG) ending at $18.50, denoting a -1.28% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%. Coming into today, shares of the provider of insurance and reinsurance services had gained 1.35% in the past month. In that same time, the Finance sector lost 4.31%, while the S&P 500 gained 5.36%. The investment community will be ...

Company Overview - Hamilton Insurance closed at $18.75, with a daily increase of 0.7%, underperforming the S&P 500 which gained 0.9% [1] - Over the past month, Hamilton Insurance shares have decreased by 3.67%, while the Finance sector gained 0.34% and the S&P 500 increased by 3.15% [1] Upcoming Financial Results - Hamilton Insurance is set to announce its earnings on November 6, 2024, with an expected EPS of $0.74, reflecting an increase of 80.49% from the same quarter last year [2] - The Zacks Consensus Estimate projects net sales of $519.32 million, up 31.05% from the previous year [2] Full Year Projections - For the full year, earnings are projected at $4.21 per share and revenue at $2.33 billion, indicating increases of 72.54% and 48.24% respectively from the prior year [3] Analyst Estimates and Market Sentiment - Recent changes to analyst estimates for Hamilton Insurance indicate a positive outlook, suggesting analyst optimism regarding the company's business and profitability [3] - The Zacks Rank system, which assesses these estimate changes, currently rates Hamilton Insurance as 2 (Buy) [5] Valuation Metrics - Hamilton Insurance has a Forward P/E ratio of 4.42, which is a discount compared to the industry average Forward P/E of 10.39 [6] - The Insurance - Multi line industry is part of the Finance sector and holds a Zacks Industry Rank of 65, placing it in the top 26% of over 250 industries [6]

Hamilton Insurance (HG) closed the most recent trading day at $19.80, moving -0.25% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.13%. Meanwhile, the Dow experienced a rise of 0.33%, and the technology-dominated Nasdaq saw a decrease of 0.39%. Shares of the provider of insurance and reinsurance services have appreciated by 0.76% over the course of the past month, underperforming the Finance sector's gain of 1.5% and the S&P 500's gain of 2.43%. The upcom ...