Hamilton Insurance Group (NYSE:HG) Stock Rating Upgraded by Wall Street Zen

Hamilton Insurance Group (NYSE:HG) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

HG has been the topic of several other reports. Keefe, Bruyette & Woods raised their target price on Hamilton Insurance Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Citigroup reiterated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Wednesday, November 5th. JMP Securities set a $32.00 target price on Hamilton Insurance Group in a research note on Wednesday, November 5th. Citizens Jmp raised their price target on Hamilton Insurance Group from $31.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company lifted their price target on shares of Hamilton Insurance Group from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Hamilton Insurance Group Stock Down 2.3%

Shares of NYSE HG opened at $27.27 on Friday. The firm’s fifty day moving average is $26.68 and its 200 day moving average is $24.28. Hamilton Insurance Group has a 52 week low of $16.80 and a 52 week high of $28.72. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 6.49 and a beta of 0.69.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.61. Hamilton Insurance Group had a net margin of 15.95% and a return on equity of 15.07%. The business had revenue of $667.65 million for the quarter, compared to analyst estimates of $537.70 million. On average, equities research analysts expect that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other news, CEO Alexander James Baker sold 18,350 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $26.19, for a total value of $480,586.50. Following the sale, the chief executive officer directly owned 84,136 shares of the company’s stock, valued at $2,203,521.84. This represents a 17.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc increased its stake in shares of Hamilton Insurance Group by 1,404.4% during the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock valued at $42,000 after purchasing an additional 1,587 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Hamilton Insurance Group during the 3rd quarter valued at approximately $71,000. Flaharty Asset Management LLC purchased a new position in Hamilton Insurance Group during the first quarter valued at $62,000. CWM LLC raised its stake in Hamilton Insurance Group by 167.7% during the second quarter. CWM LLC now owns 4,545 shares of the company’s stock valued at $98,000 after buying an additional 2,847 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Hamilton Insurance Group by 14.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock worth $99,000 after acquiring an additional 585 shares in the last quarter. Institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Company Profile

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.