Hamilton Insurance Group (NYSE:HG) Price Target Raised to $39.00

Hamilton Insurance Group (NYSE:HG) had its price objective upped by research analysts at Wells Fargo & Company from $37.00 to $39.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 14.57% from the stock’s previous close.

A number of other analysts also recently issued reports on HG. Zacks Research downgraded shares of Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. UBS Group set a $33.00 price objective on shares of Hamilton Insurance Group in a research note on Thursday, May 21st. Citizens Jmp lifted their target price on shares of Hamilton Insurance Group from $36.00 to $38.00 and gave the company a “market outperform” rating in a report on Friday, May 1st. Wall Street Zen upgraded Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Hamilton Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $35.12.

Hamilton Insurance Group Trading Down 1.3%

Shares of Hamilton Insurance Group stock traded down $0.45 during mid-day trading on Thursday, hitting $34.04. 461,843 shares of the stock were exchanged, compared to its average volume of 521,367. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 5.58 and a beta of 0.35. Hamilton Insurance Group has a twelve month low of $20.44 and a twelve month high of $35.20. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $31.69 and a 200 day simple moving average of $30.12.

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

Insider Activity

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 11,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total value of $337,590.00. Following the transaction, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. The trade was a 13.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $185,955.75. Following the completion of the transaction, the treasurer directly owned 39,629 shares of the company’s stock, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is currently owned by company insiders.

Institutional Trading of Hamilton Insurance Group

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

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.