Brokerages Set Hamilton Insurance Group, Ltd. (NYSE:HG) Price Target at $34.00

Shares of Hamilton Insurance Group, Ltd. (NYSE:HG) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $34.00.

HG has been the subject of a number of recent analyst reports. Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a report on Friday, May 1st. Keefe, Bruyette & Woods increased their price objective on Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. UBS Group set a $33.00 price objective on Hamilton Insurance Group in a report on Thursday, May 21st. Weiss Ratings raised Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 12th. Finally, Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, June 13th.

Hamilton Insurance Group Stock Up 0.3%

NYSE:HG opened at $31.49 on Monday. The firm has a market capitalization of $3.13 billion, a PE ratio of 5.15 and a beta of 0.44. The stock has a 50 day moving average of $31.25 and a 200-day moving average of $29.53. Hamilton Insurance Group has a 52 week low of $20.44 and a 52 week high of $33.72. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last posted its earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.08 by $0.56. The company had revenue of $758.91 million during the quarter, compared to analyst estimates of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. Analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Buying and Selling

In other Hamilton Insurance Group news, Treasurer Jonathan B. Levenson sold 6,075 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the treasurer directly owned 39,629 shares in the company, valued at $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 is available at 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 stock was sold at an average price of $32.16, for a total value of $1,199,568.00. Following the completion of the sale, the director owned 450,000 shares of the company’s stock, valued at $14,472,000. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 70,105 shares of company stock valued at $2,220,158 in the last three months. 3.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of institutional investors have recently added to or reduced their stakes in HG. Wellington Management Group LLP lifted its position in Hamilton Insurance Group by 16.2% in the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock worth $131,378,000 after purchasing an additional 737,084 shares during the period. Donald Smith & CO. Inc. lifted its position in Hamilton Insurance Group by 71.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock worth $43,325,000 after purchasing an additional 646,106 shares during the period. Freestone Grove Partners LP acquired a new stake in Hamilton Insurance Group in the fourth quarter worth approximately $16,667,000. Millennium Management LLC lifted its position in Hamilton Insurance Group by 89.8% in the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock worth $24,599,000 after purchasing an additional 417,261 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Hamilton Insurance Group by 101.9% in the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock worth $17,490,000 after purchasing an additional 355,947 shares during the period. 29.17% of the stock is currently owned by institutional investors and hedge funds.

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.