Hamilton Insurance Group (NYSE:HG) Price Target Raised to $39.00 at Keefe, Bruyette & Woods

Hamilton Insurance Group (NYSE:HG) had its price target raised by Keefe, Bruyette & Woods from $34.00 to $39.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts have also commented on the company. 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 report on Wednesday, May 6th. Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st. Morgan Stanley boosted their price target on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday. Zacks Research raised shares of Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Finally, UBS Group set a $33.00 price objective on shares of Hamilton Insurance Group in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Hamilton Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $34.88.

Hamilton Insurance Group Stock Performance

Shares of Hamilton Insurance Group stock opened at $34.57 on Wednesday. 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 firm has a market capitalization of $3.43 billion, a P/E ratio of 5.66 and a beta of 0.35. The business has a fifty day simple moving average of $31.69 and a two-hundred day simple moving average of $30.12. Hamilton Insurance Group has a 12 month low of $20.44 and a 12 month high of $35.20.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The firm had revenue of $758.91 million for the quarter, compared to analysts’ expectations of $933.90 million. On average, equities analysts forecast that Hamilton Insurance Group will post 4.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David A. Brown sold 37,300 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the completion of the sale, the director directly owned 450,000 shares of the company’s stock, valued at approximately $14,472,000. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction 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 sale, the treasurer owned 39,629 shares of the company’s stock, valued at approximately $1,213,043.69. This trade represents a 13.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 70,105 shares of company stock worth $2,220,158. Corporate insiders own 3.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new position in shares of Hamilton Insurance Group during the 4th quarter worth approximately $25,000. Chesapeake Asset Management LLC lifted its holdings in shares of Hamilton Insurance Group by 487.8% during the 4th quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Hamilton Insurance Group by 112.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares in the last quarter. KBC Group NV purchased a new position in Hamilton Insurance Group during the 1st quarter worth $65,000. Finally, Royal Bank of Canada grew its stake in Hamilton Insurance Group by 15.8% during the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock worth $84,000 after buying an additional 410 shares during the last quarter. Hedge funds and other 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.