Zacks Research Downgrades Hamilton Insurance Group (NYSE:HG) to Hold

Hamilton Insurance Group (NYSE:HG) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday. Weiss Ratings upgraded Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 12th. Wells Fargo & Company lifted their price objective on Hamilton Insurance Group from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Barclays upped their target price on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Citizens Jmp lifted their target price on Hamilton Insurance Group from $36.00 to $38.00 and gave the stock a “market outperform” rating in a report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.88.

Hamilton Insurance Group Price Performance

Hamilton Insurance Group stock opened at $34.57 on Tuesday. The stock’s 50 day moving average is $31.69 and its 200 day moving average is $30.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $3.43 billion, a P/E ratio of 5.66 and a beta of 0.35. Hamilton Insurance Group has a one year low of $20.44 and a one year high of $35.20.

Hamilton Insurance Group (NYSE:HG) last released its earnings results on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The business had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. As a group, research analysts expect that Hamilton Insurance Group will post 4.12 EPS for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other news, Treasurer Jonathan B. Levenson sold 6,075 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the sale, the treasurer directly owned 39,629 shares of the company’s stock, valued at $1,213,043.69. This represents a 13.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian John Deegan sold 11,000 shares of Hamilton Insurance Group stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total transaction of $337,590.00. Following the transaction, the chief accounting officer directly owned 71,347 shares in the company, valued at $2,189,639.43. This represents a 13.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Hamilton Insurance Group by 186.0% in the first quarter. AQR Capital Management LLC now owns 57,399 shares of the company’s stock valued at $1,190,000 after acquiring an additional 37,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Hamilton Insurance Group by 9.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock worth $510,000 after acquiring an additional 2,071 shares during the period. Millennium Management LLC lifted its holdings in Hamilton Insurance Group by 9.7% during the first quarter. Millennium Management LLC now owns 442,820 shares of the company’s stock worth $9,180,000 after acquiring an additional 39,020 shares during the period. Goldman Sachs Group Inc. boosted its position in Hamilton Insurance Group by 8.1% in the first quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock worth $5,797,000 after purchasing an additional 20,926 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Hamilton Insurance Group by 87.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company’s stock worth $1,777,000 after purchasing an additional 39,927 shares during the last quarter. Institutional investors own 29.17% of the company’s stock.

About Hamilton Insurance Group

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.