Wells Fargo & Company Issues Positive Forecast for Hamilton Insurance Group (NYSE:HG) Stock Price

Hamilton Insurance Group (NYSE:HG) had its price target upped by Wells Fargo & Company from $37.00 to $39.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on HG. Citizens Jmp increased their target price on Hamilton Insurance Group from $36.00 to $38.00 and gave the company a “market outperform” rating in a research note on Friday, May 1st. Morgan Stanley increased their price objective on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group set a $33.00 price objective on Hamilton Insurance Group in a report on Thursday, May 21st. Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st. Finally, Zacks Research cut shares of Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Hamilton Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.12.

Hamilton Insurance Group Stock Performance

Shares of HG opened at $34.13 on Thursday. Hamilton Insurance Group has a 12-month low of $20.44 and a 12-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 market cap of $3.39 billion, a PE ratio of 5.59 and a beta of 0.35. The stock has a 50-day moving average price of $31.72 and a 200-day moving average price of $30.16.

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, 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 for the quarter, compared to the consensus estimate of $933.90 million. As a group, equities analysts forecast that Hamilton Insurance Group will post 4.12 earnings per share for the current fiscal 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 transaction of $185,955.75. Following the completion of the sale, the treasurer owned 39,629 shares of the company’s stock, valued at approximately $1,213,043.69. This represents a 13.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David A. Brown sold 37,300 shares of Hamilton Insurance Group stock in a transaction 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 transaction, the director directly owned 450,000 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of HG. Kestra Advisory Services LLC bought a new stake in shares of Hamilton Insurance Group in the fourth quarter worth about $25,000. Chesapeake Asset Management LLC increased its holdings in 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 period. Harbor Capital Advisors Inc. raised its position in Hamilton Insurance Group by 112.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock valued at $49,000 after purchasing an additional 937 shares during the last quarter. KBC Group NV bought a new position in Hamilton Insurance Group during the 1st quarter valued at approximately $65,000. Finally, Royal Bank of Canada lifted its holdings 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 buying an additional 410 shares during the period. 29.17% of the stock is owned by institutional investors.

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.