Hamilton Insurance Group (NYSE:HG) Trading 5% Higher After Analyst Upgrade

Hamilton Insurance Group, Ltd. (NYSE:HG) shares were up 5% on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $21.00 to $22.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Hamilton Insurance Group traded as high as $19.33 and last traded at $19.07. Approximately 466,711 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 339,469 shares. The stock had previously closed at $18.17.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Hamilton Insurance Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. JMP Securities raised their price target on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $20.67.

Insider Activity

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $16.70, for a total value of $367,400.00. Following the completion of the sale, the chief accounting officer now owns 18,957 shares in the company, valued at approximately $316,581.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hamilton Insurance Group news, Director Alan Neil Patterson purchased 21,135 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average price of $16.66 per share, for a total transaction of $352,109.10. Following the completion of the purchase, the director now directly owns 21,135 shares in the company, valued at $352,109.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian John Deegan sold 22,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $16.70, for a total value of $367,400.00. Following the completion of the sale, the chief accounting officer now owns 18,957 shares in the company, valued at $316,581.90. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of hedge funds have recently made changes to their positions in HG. Newbridge Financial Services Group Inc. bought a new position in Hamilton Insurance Group in the 4th quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Hamilton Insurance Group in the second quarter valued at about $34,000. American International Group Inc. acquired a new position in Hamilton Insurance Group during the 1st quarter worth about $115,000. Fifth Lane Capital LP acquired a new position in Hamilton Insurance Group during the 1st quarter worth about $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Hamilton Insurance Group during the 2nd quarter worth about $156,000. Institutional investors and hedge funds own 29.17% of the company’s stock.

Hamilton Insurance Group Stock Up 5.1 %

The stock has a market cap of $2.12 billion and a price-to-earnings ratio of 5.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s 50-day simple moving average is $16.52 and its two-hundred day simple moving average is $15.24.

Hamilton Insurance Group (NYSE:HG) last released its earnings results on Wednesday, August 7th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.91 by $0.29. Hamilton Insurance Group had a return on equity of 18.53% and a net margin of 19.11%. The company had revenue of $587.94 million during the quarter, compared to analysts’ expectations of $502.37 million. On average, sell-side analysts expect that Hamilton Insurance Group, Ltd. will post 3.92 EPS for the current fiscal year.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.