Hamilton Insurance Group (NYSE:HG) Raised to “Buy” at Wall Street Zen

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

A number of other equities research analysts have also recently commented on the company. Morgan Stanley lifted their target price on Hamilton Insurance Group from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Barclays lifted their target price on Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. UBS Group set a $33.00 target price on Hamilton Insurance Group in a research note on Thursday, May 21st. Finally, Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Hamilton Insurance Group has an average rating of “Moderate Buy” and an average price target of $34.00.

Hamilton Insurance Group Price Performance

Shares of NYSE HG opened at $31.86 on Friday. Hamilton Insurance Group has a twelve month low of $20.44 and a twelve month high of $33.72. The stock’s 50 day moving average price is $31.14 and its 200-day moving average price is $29.38. The company has a market capitalization of $3.16 billion, a PE ratio of 5.21 and a beta of 0.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Thursday, April 30th. The company reported $1.64 earnings per share 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 the consensus estimate of $933.90 million. On average, equities analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Transactions at Hamilton Insurance Group

In other news, CAO Brian John Deegan sold 11,000 shares of the 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 completion of the transaction, the chief accounting officer owned 71,347 shares in the company, valued at approximately $2,189,639.43. This represents a 13.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Brown sold 37,300 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the sale, the director owned 450,000 shares in the company, valued at $14,472,000. The trade was a 7.65% 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 company insiders.

Institutional Trading of Hamilton Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new position in Hamilton Insurance Group during the fourth quarter valued at approximately $25,000. Chesapeake Asset Management LLC boosted its stake in Hamilton Insurance Group by 487.8% in the fourth quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares during the last quarter. KBC Group NV bought a new stake in Hamilton Insurance Group in the first quarter worth $65,000. Finally, Royal Bank of Canada increased its stake in Hamilton Insurance Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock worth $84,000 after purchasing an additional 410 shares during the period. 29.17% of the stock is currently owned by 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.