Hamilton Insurance Group (NYSE:HG) Price Target Increased to $20.00 by Analysts at Wells Fargo & Company

Hamilton Insurance Group (NYSE:HG) had its target price boosted by Wells Fargo & Company from $18.00 to $20.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on HG. JMP Securities lifted 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. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $21.00 target price (up previously from $20.00) on shares of Hamilton Insurance Group in a research note on Thursday, May 16th. Finally, Morgan Stanley reduced their target price on Hamilton Insurance Group from $21.00 to $20.00 and set an overweight rating on the stock in a report on Monday, April 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $20.50.

Hamilton Insurance Group Price Performance

NYSE HG traded up $0.52 during trading on Friday, reaching $17.18. 350,109 shares of the company traded hands, compared to its average volume of 329,900. Hamilton Insurance Group has a 1-year low of $12.44 and a 1-year high of $18.07. The company has a market cap of $1.91 billion and a price-to-earnings ratio of 5.22. The stock’s 50 day moving average price is $16.50 and its two-hundred day moving average price is $15.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.83 and a current ratio of 0.83.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly 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. The business had revenue of $587.94 million for the quarter, compared to analyst estimates of $502.37 million. Hamilton Insurance Group had a return on equity of 18.53% and a net margin of 19.11%. As a group, analysts anticipate that Hamilton Insurance Group will post 3.92 EPS for the current year.

Insider Activity

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

Institutional Trading of Hamilton Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in shares of Hamilton Insurance Group by 40.7% during the 2nd quarter. Renaissance Technologies LLC now owns 357,800 shares of the company’s stock worth $5,957,000 after buying an additional 103,426 shares during the period. Federated Hermes Inc. acquired a new position in Hamilton Insurance Group during the second quarter valued at approximately $6,454,000. American Century Companies Inc. grew its holdings in Hamilton Insurance Group by 17.7% during the second quarter. American Century Companies Inc. now owns 2,084,332 shares of the company’s stock valued at $34,704,000 after purchasing an additional 313,417 shares during the period. Acadian Asset Management LLC increased its stake in Hamilton Insurance Group by 80.3% in the second quarter. Acadian Asset Management LLC now owns 496,981 shares of the company’s stock valued at $8,265,000 after purchasing an additional 221,372 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Hamilton Insurance Group by 52.0% in the second quarter. Rhumbline Advisers now owns 25,068 shares of the company’s stock worth $417,000 after purchasing an additional 8,572 shares during the period. Institutional investors own 29.17% of the company’s stock.

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.